Hong Kong REITs brace for losses as property valuations fall

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Two more Hong Kong-listed REITs have issued profit warnings, as property values across the country plunge in tandem with rising fears over a second wave of COVID-19 cases.

The city is also reeling from uncertainties that have arisen in the wake of the passing of a broad security law, which has since soured relations with major economies including the US, the UK, Canada and Australia.

Earlier in the week, New Century REIT warned that it will not be paying an interim dividend, given difficult operating conditions.

Related: New Century REIT looks set to discard interim distribution amid falling rents


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