SINGAPORE (July 25): Hong Kong retail real-estate investment trust Fortune REIT posted a distribution per unit of 24.78 HK cents (4.3 cents) for the six months ended 30 June 2016 (1H16), 6% higher from its DPU of 23.38 HK cents in 1H15.  

During the half-year under review, Fortune REIT achieved a 6.1% y-o-y growth in revenue to HK$979.1 million.

In a Monday filing, the REIT’s manager, ARA Asset Management, says the growth in revenue is due to a healthy rental reversion across the portfolio, as well as the asset enhancement initiatives (AEIs) at Belvedere Square, which were completed in phases during 2015.

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