Champion REIT Records 15.5% Drop in DPU, Shares Decline

Champion Real Estate Investment Trust (REIT) announced a 15.5% decrease in its distribution per unit (DPU) to 14.22 HK cents for the year ending December 31, 2024, amid ongoing challenges in the Hong Kong commercial property market. The Trust's net property income fell by 6.5% to HK$1.82 billion, driven by a 5.5% decline in total rental income to HK$2.19 billion due to poor office rental demand. Despite these challenges, occupancy rates showed resilience, with Three Garden Road maintaining 82.6% occupancy and Langham Place Mall at 99.3%. The mall's tenants' sales outperformed the overall market, although they still experienced a 4.3% decline. The Trust has launched a