--- title: "SF Reit reports 7.3% drop in distributable income for first half of 2026" type: "News" locale: "en" url: "https://longbridge.com/en/news/295856735.md" description: "SF Reit reported a 7.3% year-on-year drop in distributable income to HK$110.7 million for H1 2026, with total revenue down 4.6%. Net property income fell 7.1%, leading to an interim distribution of 12.15 HK cents per unit. Occupancy remained high at 96.8%, supported by SF Holding's strong backing and sustained leasing demand from e-commerce and logistics sectors." datetime: "2026-08-13T23:03:47.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295856735.md) - [en](https://longbridge.com/en/news/295856735.md) - [zh-HK](https://longbridge.com/zh-HK/news/295856735.md) generator: "portal-rs" --- # SF Reit reports 7.3% drop in distributable income for first half of 2026 SF Reit, Hong Kong’s first real estate investment trust to focus on logistics properties, saw its distributable income fall by 7.3 per cent year on year to HK$110.7 million (US$14.11 million) in the first half of the year. The firm – which is controlled by the Chinese logistics giant SF Holding – recorded total revenue of HK$219.3 million for the first six months of 2026, down 4.6 per cent from a year earlier, according to its exchange filing on Thursday. Net property income stood at HK$178.4 million, down 7.1 per cent from the previous year. That led the company’s interim distribution to fall to 12.15 HK cents per unit from 13.11 HK cents a year earlier, despite its payout ratio remaining constant at 90 per cent. SF Reit’s portfolio of logistics assets in Hong Kong’s Tsing Yi and mainland Chinese cities including Foshan, Wuhu and Changsha maintained an overall occupancy rate of 96.8 per cent as of June 30, slightly down from 96.9 per cent at the end of December, according to the company. “In Hong Kong, the logistics property market is transitioning from a phase of adjustment towards a phase of stabilisation, supported by a recovery in trade activity and broader economic confidence,” the company said in a statement. “Leasing demand has been sustained by core drivers including e-commerce platforms, third-party logistics providers and specialised industrial sectors.” Alan Lam Chung Chi, executive director and CEO of Reit Manager, the Hong Kong company that manages SF Reit’s assets, said the renewal of major leases with SF Holding in the first half had provided a “solid foundation of income visibility and occupancy stability for the years ahead.” “Looking forward, we will continue to prioritise proactive asset management, cost discipline and prudent capital management, while remaining alert to market opportunities that can create long-term value for unit holders,” Lam added. The company said rent collection and tenant retention remained steady, underpinned by strong backing from SF Holding, which accounted for 77.1 per cent of total revenue and 83.5 per cent of the portfolio’s gross lettable area during the first half. On a portfolio-wide basis, the appraised value of SF Reit’s portfolio was HK$6.21 billion as of June 30, up by 0.6 per cent compared with a year earlier, thanks partly to a rise in the yuan. ### Related Stocks - [02191.HK](https://longbridge.com/en/quote/02191.HK.md) - [06936.HK](https://longbridge.com/en/quote/06936.HK.md) - [002352.CN](https://longbridge.com/en/quote/002352.CN.md) ## Related News & Research - [S.F. Holding unit subscribes for RMB 133 million Hive Box Class A shares](https://longbridge.com/en/news/296798866.md) - [S.F. Holding unit exercises preferential rights in Hive Box capital increase, triggering related-party transaction](https://longbridge.com/en/news/296786924.md) - [DBS Reaffirms Their Buy Rating on SF Real Estate Investment Trust (8ET)](https://longbridge.com/en/news/296051939.md) - [J&T Global Express appoints S.F. Holding founder Wang Wei as non-executive director](https://longbridge.com/en/news/296458249.md) - [Leadway Technology clarifies lease rent set after market comparison, arm’s-length talks](https://longbridge.com/en/news/296618542.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**