DBS issued a report indicating that FORTUNE REIT (00778.HK) maintained an overall lease renewal rental adjustment rate in the mid-single digits negative for the second half of last year, affected by a decrease in tenants such as supermarkets, kindergartens, Chinese restaurants, and Real Estate Agents, which offset the positive growth in renewal rents from fast-food restaurants, services, and Education tenants. The operating environment for Real Estate Agents and kindergartens has recently improved, benefiting from the relaxation of real estate market policies and the increased housing and Education demand from new tenants, along with a decrease in expired tenants, indicating that the growth trend is expected to gradually improve over the next year.

The bank stated that population growth should lay the foundation for retail Consumer, providing a good long-term outlook for FORTUNE REIT. The forecast distribution yield for this property trust over the next two years is 8.1% to 8.2%, compared to the USA ten-year government bond yield premium of 3.8% to 3.9%, which is similar to the ten-year average of 3.8%. DBS maintains a "Buy" rating on FORTUNE REIT, with a Target Price of 5.12 HKD.