Fortune REIT annual income available dips 2.4 pc to HK$970m

Fortune Real Estate Investment Trust (0778) announced the income available for distribution fell 2.4 percent year-on-year to HK$970 million in 2020.

The final distribution per unit fell 2.3 percent to 24.56 HK cents. The full-year distribution per unit fell 8 percent to 47.16 HK cents. 

Fortune  REIT explained the drop in distributable income was attributable to negative rental reversions, lower carpark income and certain rental concessions granted to tenants. 

The overall average occupancy of its property fell 1.1 percentage points.