SF REIT asset, Asia Logistics Hub.SF REIT asset, Asia Logistics Hub.

SF REIT has recorded a revenue of HKD197.5 million for its 1H 2022.

Net property income for the period came in at HKD161.6 million and the distributable income was HKD109.4 million.

The independently appraised value of SF REIT’s portfolio was HKD7,356.8 million, representing an increase of 12.5% from that as at 31 December 2021.

This was mainly attributable to a new acquisition and growth in the Tsing Yi Property, said SF REIT.

SF REIT’s board has resolved to declare an interim distribution of HKD13.67 cents per unit for the period, which represents a payout ratio of 100%.

Distribution will be paid on 29 September 2022 to unitholders whose names appear on the SF REIT’s register as at 5 September 2022.

“Despite the many challenges in the first half of 2022, SF REIT benefitted from the sustained demands for logistics services and delivered solid operational performance”, said Hubert Chak, CEO of the REIT’s manager.

“We are pleased to have completed our first post-IPO acquisition in June 2022, with the addition of a modern logistics property in Changsha, China. It has extended our geographical footprint to Central China, complementing our portfolio which covers the Greater Bay Area and Yangtze River Delta”.

“The enlarged portfolio is expected to bring better economies of scale from enhanced operating synergies”, he added.

SF REIT was last done on the HKSE at HKD3.08, which presently implies a distribution yield of 8.6% according to data on the Hong Kong REITs table.

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.