Link REIT has reported an interim distribution per unit (DPU) 121.50 Hong Kong cents for the first half of its 2017/2018 financial year, representing a year-on-year increase of 8.7%.
This after the retail REIT’s total revenue and net property income increased by 7.4% and 9.5% year-on-year to HKD4,949 million and HKD3,767 million respectively.
Link REIT’s valuation of the property portfolio, including property under development and properties in mainland China, reached HKD189,818 million, representing an increase of 9.1% compared to 31 March 2017.
Correspondingly, the REIT’s net asset value (NAV) increased by 7.4% to HKD67.11 per unit.
The results came in as Hong Kong sees an overall positive growth in its retail market for the first time since 2014, a sentiment that bodes well on the outlook of Link REIT.
For the period, the REIT’s aggregate occupancy for its Hong Kong and China properties were at 96.3% and 97.4% respectively.