FORTUNE REIT (00778) announced a 3.5% year-on-year decrease in property income net amount for 2024 to HK$12.533 billion.

FORTUNE REIT (00778) announced its performance for 2024, with total revenue decreasing by 2.2% to HK$17.463 billion annually, net property income decreasing by 3.5% to HK$12.533 billion annually, and income available for distribution to unit holders of the fund declining by 10.8% to HK$7.234 billion annually. The distribution per unit is HK$0.3559, with a final distribution per unit of HK$0.1736. The announcement stated that the decrease in total revenue was mainly due to negative growth in rental revision rates in certain industries, although overall average occupancy rates improved to offset some of the rental losses.