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Fortune REIT’s 1H15 Distributable Income Rose 12.8% To HK$440.3 Million
Daily Bulletin | 28 July 2015
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Fortune REIT announced total revenue of HK$922.6 million an increase of 13.4 percent from the same period last year, boosting income available for distribution by 12.8 percent to HK$440.3 million.

The growth in revenue was mainly attributed to rental reversion of 22.1 percent across the portfolio as well as the additional contributions from Laguna Plaza acquired in January 2015.

During the period, the trust acquired Laguna Plaza for HK$1,918.5 million at 4.7 percent net property yield and disposed Nob Hill Square for HK$648.0 million at 2.9 percent net property yield.

The valuation of the trust’s 17 retail properties was appraised at HK$35,238 million by Savills Valuation and Professional Services, as at 30 June 2015, representing a 7.7 percent increase from HK$32,720 million as at 31 December 2014.

Fortune REIT  9.440 -0.08 -0.84%   
Business: Engages in the ownership and investment of retail shopping malls in Hong Kong.

Insight: Aug-17, 1H17 revenue increased by 2.5% benefiting ... Read More


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