Financial Summary

PROFIT (HK$ MIL) 2018 2019 2020 2021 2022
Total Rental Income $2,677 $2,778 $2,633 $2,495 $2,359
Net Property Income $2,405 $2,481 $2,347 $2,197 $2,031
DISTRIBUTION (HK$) 2018 2019 2020 2021 2022
Distributable Income (mil) $1,611 $1,648 $1,554 $1,503 $1,298
Distribution Amount (mil) $1,530 $1,566 $1,476 $1,353 $1,168
Distribution per Unit $0.2614 $0.2662 $0.2496 $0.2275 $0.1954
VALUATION (HK$) 2018 2019 2020 2021 2022
Gross Value of Portfolio (mil) $83,135 $81,178 $67,318 $65,296 $63,555
Net Asset Value per Unit $11.42 $11.04 $8.61 $8.25 $7.91
FINANCIAL RATIOS 2018 2019 2020 2021 2022
Net Expense Ratio 10.2% 10.7% 10.9% 11.9% 13.9%
Payout Ratio 95.0% 95.0% 95.0% 90.0% 90.0%
Gearing Ratio 17.6% 18.0% 23.0% 22.9% 22.5%
OPERATIONAL STATISTICS 2018 2019 2020 2021 2022
Three Garden Road Office Occupancy 99.1% 93.0% 86.8% 89.0% 82.7%
Three Garden Road Office Passing Rent (HK$ psf) $98.6 $107.8 $110.4 $108.3 $99.7
Langham Place Office Occupancy 100.0% 97.7% 88.7% 96.3% 93.3%
Langham Place Office Passing Rent (HK$ psf) $42.7 $46.5 $47.7 $47.1 $46.0
Langham Place Mall Occupancy 100.0% 100.0% 100.0% 100.0% 100.0%
Langham Place Mall Passing Rent (HK$ psf) $259.1 $209.5 $179.3 $165.9 $157.1
PROFIT (HK$ MIL)
2022
2021
2020
2019
2018
Total Rental Income
$2,359
Net Property Income
$2,031
DISTRIBUTION (HK$)
2022
2021
2020
2019
2018
Distributable Income (mil)
$1,298
Distribution Amount (mil)
$1,168
Distribution per Unit
$0.1954
VALUATION (HK$)
2022
2021
2020
2019
2018
Gross Value of Portfolio (mil)
$63,555
Net Asset Value per Unit
$7.91
FINANCIAL RATIOS
2022
2021
2020
2019
2018
Net Expense Ratio
13.9%
Payout Ratio
90.0%
Gearing Ratio
22.5%
OPERATIONAL STATISTICS
2022
2021
2020
2019
2018
Three Garden Road Office Occupancy
82.7%
Three Garden Road Office Passing Rent (HK$ psf)
$99.7
Langham Place Office Occupancy
93.3%
Langham Place Office Passing Rent (HK$ psf)
$46.0
Langham Place Mall Occupancy
100.0%
Langham Place Mall Passing Rent (HK$ psf)
$157.1