Sunlight Reit (00435) announced that the rental rate of the Sunlight Reit real estate fund portfolio in 2024 ...
Financial news app Zhitong reported that Sunlight Reit (00435) announced that the rental rate of the Sunlight Reit real estate fund portfolio was 91.1% on September 30, 2024, with the office property rental rate remaining unchanged at 91.3%, and the retail property portfolio rental rate mildly dropping to 90.8%. The current rent for the overall property portfolio is HK$45.0 per square foot, while the renewal rent saw a negative growth of 3.6% in the previous quarter.
On September 30, 2024, Dah Sing Financial Center achieved a rental rate of 89.9%, with the current rent slightly decreasing to HK$39.1 per square foot. Meanwhile, the rental rate of Cloud Hill Tower rose to 94.3%. In the Kowloon district, Joyous Center's rental rate dropped to 83.4%, indicating that tenants in the service industry are adopting a more cautious approach due to uncertain economic conditions.
As for retail properties, the rental rate of the Shangshui Center shopping mall was 90.7% on September 30, 2024, with the current rent maintained at HK$105.0 per square foot. On the other hand, Phase 1 of Newtown City achieved a rental rate of 92.6%, with the current rent at HK$53.5 per square foot.