Champion REIT sees lower rental income amid weak office market

Champion REIT has reported a decline in financial performance for 2024, as weakness in the Hong Kong office rental market weighed on its earnings.

The REIT recorded a 5.5% drop in total rental income to HKD2.185 billion, while net property income fell 6.5% to HKD1.82 billion.

Distributable income declined by 14.6% to HKD958 million, leading to a 15.5% cut in distribution per unit (DPU) to HKD0.1422.