Fortune REIT announced on 14 December that it has launched the first open-concept new energy vehicle showroom in a Hong Kong shopping mall.

The showroom has opened at Fortune Metropolis and it is tenanted by MG, which is also the REIT’s first new energy vehicle (NEV) tenant.

Its opening heralds the start of a new trend of NEV showrooms in shopping malls in Hong Kong, given the vehicle’s popularity across the country, said the REIT.

“With the introduction of MG Showroom, Fortune Malls brings the trend of NEV showrooms to Hong Kong’s shopping malls”, said Justina Chiu, CEO of the REIT’s manager.

“That will certainly give Fortune Malls new momentum and a unique appeal, enhancing the competitiveness of Fortune Metropolis and contributing to environmental protection and sustainable development”, she added.

Fortune REIT was last done on the HKSE at HKD4.90, which presently implies a distribution yield of 9.13% 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.