---
title: "Capitaland Investment revenue dips to $1.5b in 9M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/304206773.md"
description: "Capitaland Investment reported a 3% YoY revenue decline to $1.5b for the first nine months, driven by a 23% drop in Real Estate Investment Business (REIB) due to divestments. However, fee-related revenue grew 15% to $1b, boosted by strong performance in listed and private funds management. REIB non-fund investments decreased slightly, while commercial and lodging management revenues also saw gains. The company highlighted improved operating cash flow at $721m and plans to focus on scaling fund growth and capital recycling."
datetime: "2026-11-04T04:01:27.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/304206773.md)
  - [en](https://longbridge.com/en/news/304206773.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/304206773.md)
generator: "portal-rs"
---

# Capitaland Investment revenue dips to $1.5b in 9M

**This was linked to a 23% decline in its Real Estate Investment Business.**

Capitaland Investment reports a 3% decrease in total revenue to $1.5b year on year (YoY), as Real Estate Investment Business (REIB) fell by 23% in nine months (9M).

However, fee-related revenue grew 15% YoY to $1b, higher than $900m year to date (YTD), driven by listed funds management (+30%) and private funds management (+32%).

REIB revenue fell 23% to $580m from $753m YTD following divestments and deconsolidations.

The report highlighted the absence of contributions from Synergy and Dalian IT Park as main contributors, although this was partially offset by contributions from the One iPark development for sale assets.

Capitaland’s REIB non-fund investments fell 0.4 points in carrying value after divestments of CapitaMall LuOne and Arlington Park for capital recycling. REIB listed funds and private funds remained stable at 8.2 and 5.3 points, respectively.

Listed funds management under fee-related businesses increased by 30% to $336m from $258m YoY, driven by stronger recurring fees and increased event-driven fees.

Private funds management is up 32% to $133m from $101m, attributed to higher contributions from the credit business and SC Capital partners and increased performance fees.

Commercial Management also increased by 8% to $304m from $282m YoY, driven by positive leasing and operational momentum and retained margin improvement.

Lodging Management is up 1% to $262m from $259m due to stable performance, slightly offset by lower event-driven fees.

Capitaland said its deep expertise in commercial and lodging management drives asset performance and boosts fund management.

Capitaland also recorded a 71% fixed-rate debt from the previous year’s 72%. The firm also recorded a higher operating cash flow at $721m, stating that its improved balance sheet provides capacity for growth.

It will sharpen priorities and focus in FeeCo and China AssetCo.

For FeeCo, it will scale growth of listed and private funds to grow recurring earnings and leverage its deep operating expertise in commercial and lodging management. It will push monetisation through capital recycling platforms and explore long-term strategies for China AssetCo.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**