Financial Summary

PROFIT (HK$ MIL) 2020 2021 2022 2023 2024
Total Rental Income $2,633 $2,495 $2,359 $2,312 $2,185
Net Property Income $2,347 $2,197 $2,031 $1,946 $1,820
DISTRIBUTION (HK$) 2020 2021 2022 2023 2024
Distributable Income (mil) $1,554 $1,503 $1,298 $1,122 $958
Distribution Amount (mil) $1,476 $1,353 $1,168 $1,010 $862
Distribution per Unit $0.2496 $0.2275 $0.1954 $0.1683 $0.1422
VALUATION (HK$) 2020 2021 2022 2023 2024
Gross Value of Portfolio (mil) $67,318 $65,296 $63,555 $62,950 $60,104
Net Asset Value per Unit $8.61 $8.25 $7.91 $7.72 $7.16
FINANCIAL RATIOS 2020 2021 2022 2023 2024
Net Expense Ratio 10.9% 11.9% 13.9% 15.8% 16.7%
Payout Ratio 95.0% 90.0% 90.0% 90.0% 90.0%
Gearing Ratio 23.0% 22.9% 22.5% 22.8% 23.7%
OPERATIONAL STATISTICS 2020 2021 2022 2023 2024
Three Garden Road Office Occupancy 86.8% 89.0% 82.7% 82.8% 82.6%
Three Garden Road Office Passing Rent (HK$ psf) $110.4 $108.3 $99.7 $91.7 $87
Langham Place Office Occupancy 88.7% 96.3% 93.3% 93.3% 87.2%
Langham Place Office Passing Rent (HK$ psf) $47.7 $47.1 $46.0 $45.9 $44
Langham Place Mall Occupancy 100.0% 100.0% 100.0% 98.6% 99.3%
Langham Place Mall Passing Rent (HK$ psf) $179.3 $165.9 $157.1 $185.3 $157.5
PROFIT (HK$ MIL)
2024
2023
2022
2021
2020
Total Rental Income
$2,185
Net Property Income
$1,820
DISTRIBUTION (HK$)
2024
2023
2022
2021
2020
Distributable Income (mil)
$958
Distribution Amount (mil)
$862
Distribution per Unit
$0.1422
VALUATION (HK$)
2024
2023
2022
2021
2020
Gross Value of Portfolio (mil)
$60,104
Net Asset Value per Unit
$7.16
FINANCIAL RATIOS
2024
2023
2022
2021
2020
Net Expense Ratio
16.7%
Payout Ratio
90.0%
Gearing Ratio
23.7%
OPERATIONAL STATISTICS
2024
2023
2022
2021
2020
Three Garden Road Office Occupancy
82.6%
Three Garden Road Office Passing Rent (HK$ psf)
$87
Langham Place Office Occupancy
87.2%
Langham Place Office Passing Rent (HK$ psf)
$44
Langham Place Mall Occupancy
99.3%
Langham Place Mall Passing Rent (HK$ psf)
$157.5