Capital Recycling Opportunities May Be More Limited Going Forward
After Link REIT completed its latest asset disposal in February, the company engaged its principal valuer for a review of the remaining portfolio. The valuer indicated continued capitalization rate compression, leading to increasing valuation for the company’s Hong Kong portfolio. However, against the backdrop of rising interest rate and tighter liquidity, we believe the window for future capital recycling may be limited. As such, we maintain our fair value estimate of HKD 64, as well as our nar...Link Real Estate Investment Trust is a collective investment scheme constituted as a unit trust that invests primarily in retail and carpark operations.
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