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LINK REIT: Rent Adjustment Takes Time; Expected Persistent Pressure in 2H
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LINK REIT (00823.HK) has just announced its interim results, with revenue from its Hong Kong property portfolio sinking 2.4% YoY, and net property income falling by 3.7%. The group's Chairman, Duncan Owen, stated that the Hong Kong retail market is under pressure, while leasing demand in the market is recovering. He assumed that retail sales data have bottomed out and rebounded. Due to the typical three-year lease cycle, there is a natural lag effect, and it will take time for rents to adjust to normal growth, he added, expecting persistent pressure in the second half of the year. AASTOCKS Financial News Website: www.aastocks.com |
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