Link REIT has laid out an ambitious plan that will eventually make it the largest private provider of electric vehicles (EV) charging point in Hong Kong.
The REIT disclosed on 3 November that it is aiming to provide a total of 3,000 public EV charging points in its 113 car parks across various locations in Hong Kong by 2024.
The ambition was laid out amid an exponential growth in the number of electric vehicles in Hong Kong.
Figures released by the Secretary for Environment and Ecology indicate that the number of new registration of EVs in Hong Kong has risen from 6% in 2019 to 45% over the first three quarters of 2022.
This represents an almost 100% annual growth rate, said the REIT.
To achieve the target of having 3,000 EV charging points by 2024, Link REIT will partner with three leading EV charging service providers in the territory.
These are Cornerstone Technologies Holdings Limited, Hong Kong EV Power Limited and Shell Hong Kong Limited.
The REIT will also partner with other providers to install multiple types of EV chargers, in addition to the existing 600 chargers, at the 113 Link REIT car parks in various locations throughout Hong Kong.
The programme demonstrates Link REIT’s commitment to contributing its part in powering Hong Kong’s rapid transition into a greener and smarter city, said the REIT.
Link REIT was last done on the HKSE at HKD49.80, which presently implies a distribution yield of 6.43% according to data on the Hong Kong REITs table.