New | Link Reit says net property income up 10.6pc, revenues up as well

The Link Real Estate Investment Trust (The Link REIT) announced that net property income increased by 10.6 per cent to HK$2.78 billion for the six months to September 30 on higher rental income while total revenue rose 9.6 per cent to HK$3.83 billion.

The Link Reit, which was included in the constituent stock of the Hang Seng Index last week, said interim distribution per unit (DPU) for the period amounted to 89.56 HK cents, against 80.22 HK cents over the same period in 2013. The interim DPU represents a year-on-year increase of 11.6 per cent, according to the reit’s manager, The Link Management.

Net asset value per unit grew to HK$48.23 as of September, against HK$41.69 as of March 31, 2014.

The overall occupancy rates of the retail portfolio remained stable at 94.4 per cent. The average monthly unit rent improved from HK$42.1 per square foot (psf) as of March 31 2014 to HK$43.6 psf as of September 30 2014.

Valuation of the investment properties portfolio continued to improve and reached about HK$125.49 billion as of September 30, 2014, representing an increase of 14.2 per cent compared to HK$109.9 billion as of March 31, 2014.