Prosperity REIT property, Prosperity Millenia Plaza. (Photo: Google Maps)

Hong Kong’s Prosperity REIT has recorded an investment property revaluation loss of HKD557.4 million (USD71 million) for the six months ended in June 2020.

The REIT’s revenue and net property income declined by 0.7% and 1.4% respectively to HKD228.7 million and HKD181.1 million.

Accordingly, its distribution per unit (DPU) slid by 3.6% to HKD0.0899.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.