CapitaLand Integrated Commercial Trust (C38U) announced that its trustee has signed a two-year lease with City Energy Pte. Ltd., acting as trustee of City Energy Trust, for units #03-77 and #03-78 at The Atrium @ Orchard.

The lease runs from Oct, 13 2026 to Oct, 12 2028 and will generate total rent of about 0.997 million Singapore dollars. City Energy is deemed an interested person because it is an associate of Temasek Holdings, which holds an approximately 20.92% stake in CICT.

When aggregated with other transactions involving Temasek-related entities this financial year, the deal lifts CICT’s total interested person transactions to roughly 5,007.67 million Singapore dollars under Rule 905 of the SGX listing manual.

CICT said the rent is in line with market benchmarks, as confirmed by independent valuer CBRE, and the agreement will help maintain occupancy and provide stable income during asset enhancement works scheduled for 2026 and 2027.

The Audit and Risk Committee considers the lease to be on normal commercial terms and not prejudicial to minority unitholders.