Link REIT's Choi Yuen Plaza (Photo: Link REIT)Link REIT's Choi Yuen Plaza (Photo: Link REIT)

Hong Kong-listed Link REIT has reiterated that it will not lower rents at its wet markets despite seeing angry demonstrations at its annual general meeting on 27 July.

The demonstrations, which have been conducted by a number of groups including current tenants, called on the Hong Kong government to dissolve the REIT and re-acquire properties under its portfolio.

In a statement responding to REITsWeek's enquiries on 28 July, Link REIT refuted the results of a private survey claiming that 30% of its stalls are vacant.

"Our tenants’ business sales has continued to increase, and the portfolio’s occupancy rate has risen to 96%, reflecting the strong demand for our retail space and the growing business opportunities across our portfolio...", said the REIT.

"As a publicly-listed entity with no majority unitholder and units freely traded on the stock exchange, we welcome any investors and will leave it to the government to decide what is in the best interest for the public and the treasury", it added.

Units of Link REIT finished the trading day about 1.8% higher from its previous close on the Hong Kong stock exchange to end at HKD58.30.

By Anushia Kandasivam

Anushia Kandasivam is REITsWeek's Asia-Pacific writer based in Kuala Lumpur, Malaysia. She writes on a broad range of topics and is especially keen on financial matters.