SF Reit’s distributable income falls 7.3% in first half as occupancy holds steady

Company’s logistics assets were 96.8 per cent occupied as of the end of June, with macroeconomic headwinds and lease expirations looming

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.

“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.”