According to the Zhitong Finance App, Sunshine Real Estate Fund (00435) announced that the rental rate of Sunshine Real Estate Fund's property portfolio was 90.8% on March 31, 2024, compared to 93.1% on December 31, 2023. The current rent for the overall property portfolio remained at HK$45.3 per square foot on 31 March 2024, similar to the corresponding figure for the previous quarter. The office property portfolio experienced a negative 2.5% increase in renewable rents, reflecting that rental demand remains cautious. In contrast, the retail property portfolio recorded a 2.2% increase in rental renewals in the review quarter.

As far as the office property portfolio is concerned, the decline in the occupancy rate is mainly due to the temporary vacancy period of Daxin Financial Center. As several new leases will take effect in the coming months, the manager is cautiously optimistic that the rental rate of Daxin Financial Center will gradually improve during the year. In the Kowloon district, despite a slight decrease in the rental rate of FTSE Centre and Fung Yee Centre, the current rent is still at an ideal level.

In terms of retail properties, the occupancy rates for Sheung Shui Centre Shopping Mall and Metro City Phase I properties were 89.4% and 94.1% respectively on March 31, 2024, while the corresponding current rent was stable at HK$103.8 per square foot and HK$53.8 per square foot.