| Link Real Estate Investment Trust, in terms of market capitalisation, is the largest REIT in Asia, and also the only internally-managed REIT in the region. They invest and manage a diversified portfolio comprising retail facilities, car parks, offices and logistic centres. With the base in Hong Kong (130 out of 155 in total investments, accounting for 90% of total GFA), their properties also located in Beijing, Shanghai, Greater Bay Area (Guangzhou and Shenzhen), London, Sydney and Melbourne. As at 30 September, 2022, they are managing a portfolio value of over HK$230 billion. |
| Competitive Advantages |
- Resilient Hong Kong Retail and Car park business
As at 30 September 2022 interim results, the retail occupancy rate is 97.5%, a level close to record high. The reversion rate increased from 5.9% in 2HFY22 to 8.5% in 1HFY23, showing strong momentum in rate recovery. Revenue from car parks and related business also recorded a double-digit growth year-on-year, with hourly car park rental revenue has already surpassed pre-COVID level. Hong Kong retail and car park business contributed 73% in company's total revenue.
- Favourable capital access by maintaining strong credit ratings
Link's credit rating have been affirmed at A2/Stable (Moody's), A/Stable (S&P) and A/Stable (Fitch). Strong credit rating can facilitate favourable capital financing.
- DPU continued to grow
In 1HFY23, excluding the discretionary distribution in the same period of last year, interim DPU for the first half continued to increase by 1.9%, representing 5.5% dividend yield which is the company's highest level in 10 years.
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| Strategic Plan |
Executing Vision 2025 strategy, company aims to achieve a high single-digit CAGR in AUM. Also, they will continue their diversification strategy and grow their portfolio in markets including Hong Kong, Mainland China and Overseas where suitable opportunities arise. In terms of asset classes, they will leverage on proven asset management strengths in retail, car park and office while cautiously extend into high-potential logistics market. |
| Market Capitalization |
Around HK$110 billion |
Webinar Details
| Date: |
6 Dec, 2022 (Tue) |
| Time: |
7:00pm – 8:00pm
(Preparation time: 6:30pm - 7:00pm) |
| Language: |
Cantonese |
| Moderator: |
Mr. Curtis Yeung Wan Yui
Strategist, UOB Kay Hian (Hong Kong)
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| Guest Speaker: |
Mr. Ronald THAM
Chief Corporate Development Officer, Link Real Estate Investment Trust
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Register now!
Disclosures/Disclaimers
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