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

SF REIT reported on 16 March that its total revenue and net property income for 2022 were HKD421.5 million and HKD343.6 million respectively.

This represents an increase of 16.8% and 19.3% respectively, on an annualised basis.

Total appraised value of the REIT’s portfolio was HKD7,377.6 million, up by 12.8% as compared to that as at 31 December 2021.

Accordingly, the total distributable income for the year amounted to HKD221.9 million.

The REIT has declared a final distribution of HKD 14.07 cents per unit for the second half of the year, which is 2.9% higher than the interim distribution.

As such, the REIT’s total distribution per unit for 2022 amounted to HKD 27.74 cents.

“SF REIT has clear growth strategies through acquisitions and organic growth”, said Hubert Chak, CEO of the REIT.

“Despite the many challenges we faced in 2022, SF REIT continued to deliver solid performance, attributable to improved occupancy rate, effective cost management, the addition of a new property in Changsha acquired during the year and prudent financial management”, he added.

He indicated that moving forward, SF REIT will place more focus to expand its portfolio in Southern China, in particular the Greater Bay Area, as well as key cities in South Western China to leverage the sponsor’s business in those areas as well as in Southeast Asia.

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.