Annual Results Highlights
(in HK$' million, unless otherwise specified)
| Year ended | 18 months ended | Year ended 30 June | |||
| 31 December 2025 | 31 December 2024 | 2023 | 2022 | 2021 | |
| Revenue | 778.1 | 1,236.3 | 783.3 | 802.9 | 799.3 |
| Property operating expenses | 177.1 | 278.6 | 159.3 | 161.0 | 159.6 |
| Net property income | 601.0 | 957.7 | 624.0 | 641.9 | 639.7 |
| Cost-to-income ratio (%) | 22.8 | 22.5 | 20.3 | 20.1 | 20.0 |
| (Loss) / Profit after taxation | (275.4) | (173.0) | (28.4) | 102.9 | (233.7) |
| Distributable income | 330.2 | 499.7 | 380.3 | 431.1 | 438.3 |
| DPU (HK cents) | 18.2 | 27.4 | 22.0 | 25.0 | 25.6 |
| Payout ratio (%) | 96.1 | 94.0 | 97.9 | 97.4 | 97.5 |
| At 31 December | At 30 June | ||||
| 2025 | 2024 | 2023 | 2022 | 2021 | |
| Portfolio valuation | 17,403.0 | 17,933.6 | 18,512.2 | 18,095.2 | 18,341.7 |
| Total assets | 17,944.4 | 18,515.8 | 19,217.9 | 18,960.4 | 19,199.7 |
| Total liabilities | 5,541.8 | 5,505.7 | 5,548.7 | 4,909.0 | 5,075.4 |
| Net asset value | 12,402.6 | 13,010.1 | 13,669.2 | 14,051.4 | 14,124.3 |
| Net asset value per unit (HK$) | 7.09 | 7.53 | 8.06 | 8.36 | 8.45 |
| Gearing ratio (%) | 27.8 | 27.0 | 26.1 | 23.3 | 23.0 |
Interim Results Highlights
(in HK$' million, unless otherwise specified)
| Six months ended | Six months ended | |
| 30 June 2026 | 30 June 2025 | |
| Revenue | 382.4 | 391.2 |
| Net property income | 299.7 | 307.4 |
| Cost-to-income ratio (%) | 21.6 | 21.4 |
| Loss after taxation | (124.1) | (172.2) |
| Distributable income | 164.0 | 168.6 |
| DPU (HK cents) | 8.8 | 9.1 |
| Payout ratio (%) | 94.3 | 93.8 |
| At 30 June 2026 | At 31 December 2025 | |
| Portfolio valuation | 17,118.1 | 17,403.0 |
| Total assets | 17,728.3 | 17,944.4 |
| Total liabilities | 5,560.1 | 5,541.8 |
| Net asset value | 12,168.2 | 12,402.6 |
| Net asset value per unit (HK$) | 6.92 | 7.09 |
| Gearing ratio (%) | 28.3 | 27.8 |