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Higher rents lift Fortune Reit DPU up 15.3% in Q1
Published Thu, May 8, 2014 · 10:00 PM
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FORTUNE Real Estate Investment Trust (Reit) posted a 15.3 per cent increase in first-quarter distribution per unit after reaping the benefits of a new property and rental reversions.
Fortune Reit said income available for distribution rose 26.5 per cent to HK$193.9 million (S$31.2 million), or 10.38 HK cents per unit, for the January-to-March period.
Net property income increased to HK$289.2 million as the retail property trust recognised income from Fortune Kingswood, which was acquired in October 2013.
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