China Merchants Commercial REIT Interim Rental Income Falls 17.9% to RMB195.7 Million for 2025 Half-Year
China Merchants Commercial Real Estate Investment Trust (CMC REIT) reported a 17.9% decline in interim rental income for 2025, totaling RMB195.7 million, down from RMB238.4 million in 2024. Property operating expenses decreased to RMB56.3 million. Notable changes in rental income included a 33.8% drop at New Times Plaza and a 50.6% decrease at Onward Science & Trade Center. Despite some properties showing growth, CMC REIT faces challenges such as declining office rental rates and rising vacancy rates, prompting adjustments in leasing strategies.
China Merchants Commercial Real Estate Investment Trust (CMC REIT) reported rental income of RMB195.7 million for the interim period of 2025, representing a decrease of 17.9% compared to RMB238.4 million in the corresponding period in 2024. Property operating expenses for the period were RMB56.3 million, down from RMB65.4 million in the previous year, with property management expenses accounting for RMB23.7 million, or 42.1% of the total. In terms of property performance, New Times Plaza registered rental income of RMB33.7 million, down 33.8% from RMB50.9 million. Cyberport Building reported RMB23.3 million, a decrease of 6.4%. Technology Building and Technology Building 2 recorded increases in rental income, reaching RMB33.7 million (up 3.7%) and RMB28.6 million (up 3.6%) respectively. Garden City Shopping Centre saw rental income rise by 18.5% to RMB44.2 million, while Onward Science & Trade Center reported rental income of RMB32.2 million, down 50.6% from RMB65.2 million. In the first half of the year, the Onward Science & Trade Center in Beijing experienced a 20.1 percentage point rebound in occupancy rate during the second quarter, reducing its vacancy rate to single digits. The Garden City Shopping Center also improved in metrics such as foot traffic, active loyalty program members, and total revenue. Looking ahead, CMC REIT stated that it continues to face challenges including declining office rental rates, rising vacancy rates, and pressure from aging properties despite asset enhancement efforts. The manager plans to monitor market conditions and adjust leasing and operating strategies in response to market changes. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. China Merchants Commercial Real Estate Investment Trust published the original content used to generate this news brief on September 29, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT) Original Document: here
