Champion REIT H1 2026 slides: income falls but stabilization emerges
Champion Real Estate Investment Trust (HKEX:2778) reported a 9.2% year-over-year decline in distributable income to HK$432 million for H1 2026, despite indicating signs of market stabilization. The Hong Kong-based REIT owns premium office and retail assets, including Three Garden Road and Langham Place Mall. Three Garden Road, their flagship Central office tower, experienced a 7.8% decline in total rental income to HK$465 million, down from HK$540 million.
Langham Place Office showed resilience with a slight increase in rental income to HK$154 million. Langham Place Mall saw a modest decrease to HK$331 million. Occupancy remained stable across the portfolio. Lower average HIBOR rates helped reduce cash finance costs, with the average effective interest rate falling to 3.6% from 4.0%.
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