Fortune Real Estate Investment Trust was established in 2003 as the first real estate investment trust fund holding Hong Kong assets, and is currently listed on the Main Board of the Hong Kong Stock Exchange. The manager is Fortune Asset Management Limited, a subsidiary of ESR Group. Fortune Real Estate Investment Trust holds 17 retail properties, including 16 in Hong Kong and 1 in Singapore, with a total of approximately 3 million square feet of retail space and 2,793 parking spaces. In the first half of 2024, Fortune Real Estate Investment Trust faced challenges of slow recovery of tourist arrivals to Hong Kong and changing consumer patterns, recording a total revenue of HK$871.8 million, a decrease of 4.1% compared to the same period last year. Net property income...Show More

Fortune Real Estate Investment Trust was established in 2003 as the first real estate investment trust fund holding Hong Kong assets, and is currently listed on the Main Board of the Hong Kong Stock Exchange. The manager is Fortune Asset Management Limited, a subsidiary of ESR Group. Fortune Real Estate Investment Trust holds 17 retail properties, including 16 in Hong Kong and 1 in Singapore, with a total of approximately 3 million square feet of retail space and 2,793 parking spaces. In the first half of 2024, Fortune Real Estate Investment Trust faced challenges of slow recovery of tourist arrivals to Hong Kong and changing consumer patterns, recording a total revenue of HK$871.8 million, a decrease of 4.1% compared to the same period last year. Net property income was HK$633.1 million, a decrease of 5.8%. During the period, distributable income was HK$369.5 million, with a distribution of 18.23 Hong Kong cents per unit, a decrease of 18.5%. As of June 30, 2024, the occupancy rate was 94.8%, and the net asset value per unit was HK$13.67, a decrease of 1.9% compared to the end of the previous year. Fortune Real Estate Investment Trust will distribute an interim distribution per unit on September 17, 2024.