Financial Summary

PROFIT (HK$ MIL) 2019 2020 2021 2022 2023
Total Rental Income $2,778 $2,633 $2,495 $2,359 $2,312
Net Property Income $2,481 $2,347 $2,197 $2,031 $1,946
DISTRIBUTION (HK$) 2019 2020 2021 2022 2023
Distributable Income (mil) $1,648 $1,554 $1,503 $1,298 $1,122
Distribution Amount (mil) $1,566 $1,476 $1,353 $1,168 $1,012
Distribution per Unit $0.2662 $0.2496 $0.2275 $0.1954 $0.1683
VALUATION (HK$) 2019 2020 2021 2022 2023
Gross Value of Portfolio (mil) $81,178 $67,318 $65,296 $63,555 $62,950
Net Asset Value per Unit $11.04 $8.61 $8.25 $7.91 $7.72
FINANCIAL RATIOS 2019 2020 2021 2022 2023
Net Expense Ratio 10.7% 10.9% 11.9% 13.9% 15.8%
Payout Ratio 95.0% 95.0% 90.0% 90.0% 90.2%
Gearing Ratio 18.0% 23.0% 22.9% 22.5% 22.8%
OPERATIONAL STATISTICS 2019 2020 2021 2022 2023
Three Garden Road Office Occupancy 93.0% 86.8% 89.0% 82.7% 82.8%
Three Garden Road Office Passing Rent (HK$ psf) $107.8 $110.4 $108.3 $99.7 $91.7
Langham Place Office Occupancy 97.7% 88.7% 96.3% 93.3% 93.3%
Langham Place Office Passing Rent (HK$ psf) $46.5 $47.7 $47.1 $46.0 $45.9
Langham Place Mall Occupancy 100.0% 100.0% 100.0% 100.0% 98.6%
Langham Place Mall Passing Rent (HK$ psf) $209.5 $179.3 $165.9 $157.1 $185.3
PROFIT (HK$ MIL)
2023
2022
2021
2020
2019
Total Rental Income
$2,312
Net Property Income
$1,946
DISTRIBUTION (HK$)
2023
2022
2021
2020
2019
Distributable Income (mil)
$1,122
Distribution Amount (mil)
$1,012
Distribution per Unit
$0.1683
VALUATION (HK$)
2023
2022
2021
2020
2019
Gross Value of Portfolio (mil)
$62,950
Net Asset Value per Unit
$7.72
FINANCIAL RATIOS
2023
2022
2021
2020
2019
Net Expense Ratio
15.8%
Payout Ratio
90.2%
Gearing Ratio
22.8%
OPERATIONAL STATISTICS
2023
2022
2021
2020
2019
Three Garden Road Office Occupancy
82.8%
Three Garden Road Office Passing Rent (HK$ psf)
$91.7
Langham Place Office Occupancy
93.3%
Langham Place Office Passing Rent (HK$ psf)
$45.9
Langham Place Mall Occupancy
98.6%
Langham Place Mall Passing Rent (HK$ psf)
$185.3