Vicinity’s retail portfolio value declines 11% in 1H 2020 and other APAC REIT news

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In Australia, the value of Vicinity Centres’ retail portfolio declined by A$1.79bn, or 11.3%, during the six months to end-June, reflecting the impact of COVID-19 and challenging retail conditions.

The value of its flagship portfolio, which includes the Chadstone, premium CBD and DFO outlet centres, fell by 8.8%, the company said in a statement.

“While the overall portfolio net valuation decline was 11.3%, the results highlighted the resilience of our Flagship portfolio, affirming our strategy and weighting towards metropolitan markets with strong long-term fundamentals,” said Vicinity CEO and managing director Grant Kelley. (Read more)

The REIT’s shares closed 2.49% lower at A$1.37.

Home Consortium (HMC) raised A$10.64m from existing shareholders through its security purchase plan, issuing  3.76m new shares at $2.83 per stock.

The SPP was announced earlier this month in conjunction with its A$140m institutional placement. (Read more) HMC’s shares finished trading flat at A$3. 

The S&P/ASX 200 A-REIT index slipped 1.83% to 1,227.40, as the S&P/ASX 200 index closed 1.16% to 6,024.


Keppel REIT (K71U) reported a 5.4% decline in net property income to S$58.9m during the first half of 2020, the company said in its earnings. 

Profit after tax rose 28.5% to S$70.7m during the half, while distribution per unit rose 0.7% to 2.8 cents per share.

The REIT said its prime office portfolio and tenant profile had provided income stability and resilience during the period, however targeted tenant support measures had increased over the past quarter. (Read more)

Keppel DC REIT (AJBU) grew net property income 32.1% to S$114.2m during the six months to end-June, according to its 1H 2020 earnings. 

THe company’s profit after tax increased 38.7% to S$84.3m, and its distribution per unit jumped 13.6% to 4.375 cents per share. (Read more)

The FTSE ST Real Estate Investment Trusts index declined 0.47% to 847.31, and the Straits Times Index fell 1.26% to 2,579.51.

Hong Kong 

The Hang Seng REIT index declined 1.07% to 5,368.96, while the Hang Seng index 2.21% tumbled to 24,705.33.

Shares in New Century REIT (1275) plummeted 12.07% to HK$1.02, however the reason was unclear. 

The Tokyo stock exchange was closed for a public holiday.