CapitaLand Integrated Commercial Trust to Acquire Paragon, a Premier Integrated Development on Orchard Road, for S$3.9 Billion

NewTimeSpace News: April 20, 2026,CapitaLand Integrated Commercial Trust (CICT) announced that it proposes to acquire 100% interest in Paragon, a freehold integrated development on Orchard Road, for S$3.9 billion. Paragon is an integrated development comprising retail, office and medical suites, with a committed occupancy rate of 100% as of January 31, 2026. On the same day, CICT announced the divestment of Asia Square Tower 2 for S$2.476 billion, with the proceeds to be redeployed into the higher-yielding Paragon.

The manager of CICT stated that Paragon's medical component benefits from structural tailwinds such as an ageing population and rising medical tourism. The proposed acquisition is expected to deliver distribution per unit (DPU) accretion of 2.1%. The total acquisition outlay is approximately S$3.919 billion, and pro forma aggregate leverage is expected to be 39.2% upon completion.

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