Summary by Futu AI
Henderson Sunlight Asset Management Limited, a Sunlight Property Fund Management Limited, has announced operating data for the quarter ended 31 March 2024. The report showed that the total rental rate for the Sunshine Property Fund's property portfolio for the quarter fell to 90.8% from 93.1% at 31 December 2023, while current rents remained at HK$45.3 per sq. ft. The decrease in rental rates for the office property portfolio was mainly due to the transitional vacancy period in the Tai Chi Financial Centre, but managers remain cautiously optimistic about the improvement in their rental rates over the year. In terms of the retail property portfolio, Sheung Shui Centre Shopping Mall and New Town Phase 1 property rental rates were 89.4% and 94.1%, respectively, with renewal rental growth of 2.2%.