Here's why CCT is undeterred by the tanking economy

Office net demand was positive in 1H12 and CCT's portfolio remains resilient.

In a presentation for investor meetings to be held in Europe, which was shared to the Singapore Exchange, CCT admitted that there is presently an "uncertain global economic environment" led by souring GDP numbers.

CCT cited official government numbers that showed Singapore 2Q 2012 GDP contracted at 0.7% on a quarter-on-quarter annualised basis reversing expansion of 9.5% in the previous quarter; 2012 GDP growth forecast narrowed to 1.5% to 2.5%.

"Yet office net demand was positive in 1H 2012," the firm noted.

CCT is banking on its "resilient portfolio" to weather the looming uncertainties. Its current portfolio committed occupancy was said to be higher at 96.2%, and its top 10 tenants' weighted average lease term to expiry is now 17.9 years, suggesting stability.

It also noted how only 4% of office leases are due for renewal on portfolio income basis, which will "limit the impact of any market rent decline in 2012 and downside leasing risks."

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