China Merchants REIT payout rises by 32.4pc

Business | 11 Mar 2020 5:57 pm

China Merchants REIT (0978) said its annual distributable income grew by 32.4 percent to 12.25 million yuan in 2019 due to an increase in rent and occupancy rate.

Annualized distribution of 23.9 HK cents per unit was declared, which represents an annualized provisional distribution yield of 6.1 percent, based on the closing price of the units of HK$3.33 on  December 31, 2019.

The rent and occupancy rate of the five properties under China Merchants Commercial REIT achieved  steady growth. Revenue of China Merchants Commercial REIT was 28.759 million yuan. It is expected that the completion of asset enhancement initiatives together with the approaching launch of Metro Line 12 in 2022 will promote the overall rental level of the properties and for the acquisition of new assets, the group will search for the assets of China Merchants Group for suitable injections into China Merchants Commercial REIT.


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