SF REIT distributable income rises

SF Real Estate Investment Trust (2191) said its distributable income rose by 1.9 percent year-on-year in 2024 to HK$234.4 million thanks to high occupancy levels at 98 percent.

The full-year distribution per unit fell by 4.4 percent to 27.4 HK cents and the distribution payout ratio fell to 95 percent, yielding an 8.8 percent distribution yield.

Revenue rose 2.4 percent year-on-year to HK$451.4 million, while net property income grew by 1.5 percent to HK$361.2 million.

SF Holding (6936) occupied 80.3 percent of the gross lettable area, driving 75.1 percent of revenue.

SF REIT's property portfolio comprises four logistics properties located in Tsing Yi, Changsha, Foshan and Wuhu, with a total gross lettable area of 427,657 square meters.

Dannie Li