Even before proposed merger, CCT and CMT have already been diversifying: managers

"The case for a larger and more diversified Reit has become even more compelling in the post-Covid-19 environment. While Singapore retail and office remain relevant, the onset of Covid-19 is likely to accelerate the trend towards more mixed-use precincts and integrated developments across Singapore."

The accretion figures of +4.1 per cent and +7.6 per cent for CMT and CCT unitholders respectively have come about as a result of the consolidation of CMT's retail and CCT's office portfolios and the ability of both platforms to unlock synergies and create value for the merged entity over time. The Reit managers simply replied that the pro forma financial effects do not take into consideration the synergies and opportunities that may be derived from the leadership, resilience and growth potential of the merged platform."It is important that we look at the transaction in its entirety," they said, adding that the combined platform is expected to unlock further synergies.

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