The main reason for the decline is due to general weaker economic and market environment, lower passing rent, negative reversion in rental rate and lower occupancy rate, says the trust.
Dasin Retail Trust has reported a decline in the fair value of its investment properties. After obtaining independent valuations as at June 30, 2023, the trust’s properties are now valued at RMB9.09 billion, 4.6% lower than the RMB9.53 billion as at Dec 31, 2022.
In Singapore dollars (SGD), the trust’s portfolio fell by 8.27% h-o-h to $1.7 billion from $1.85 billion previously. The larger decline was attributable to the weaker RMB against the SGD.
