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REIT owning a portfolio of suburban retail malls across Hong Kong, dual-listed in HK and Singapore.
REIT owning a portfolio of suburban retail malls across Hong Kong, dual-listed in HK and Singapore.
Collects rent from shop tenants, with leases usually combining a base rent and a share of tenant sales, so mall footfall matters. As a REIT it must pass nearly all rental income to unit holders as distributions. Its malls serve neighbourhood needs such as supermarkets, restaurants and services.
In one line: A HK community-mall REIT.
Moat: narrow (installed base). Diversified portfolio of well-located, essential-needs suburban malls.
Headquarters: Hong Kong · Founded: 2003
Size Fortune Real Estate Investment Trust (0778.HK) is a Hong Kong Real Estate company (Real Estate Investment Trusts) with a market value of $1.19B, the 553rd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$4.51 on 6 Nov 2026.
Performance Over six months the shares fell 10.9%, against -7.7% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 9.3% over the last twelve months (peer median +4.7%); the operating margin is 64.3% (peer median 38.2%).
Valuation It trades at 0.37× book value against a peer median of 0.99× (2nd cheapest of 21).
Price implies The share price implies a return on equity of about 4.5%; Fortune Real Estate Investment Trust delivers -0.3%, so the price asks more than the business earns today.
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$1.69B | HK$1.76B | HK$1.91B | HK$1.97B | HK$1.76B |
| Revenue growth | — | -8% | -3% | +12% | — |
| Gross profit | HK$1.08B | HK$1.15B | HK$1.30B | HK$1.36B | HK$1.17B |
| EBITDA | HK$1.08B | HK$980M | HK$1.19B | HK$1.16B | HK$1.71B |
| Net income | -HK$86.7M | -HK$1.16B | -HK$519M | -HK$155M | HK$503M |
| Free cash flow | HK$685M | HK$703M | HK$573M | HK$716M | HK$750M |
| Capital expenditure | HK$51.3M | HK$38.1M | HK$85.0M | HK$113M | HK$168M |
| Total debt | n/a | HK$9.86B | HK$9.81B | HK$9.66B | HK$9.58B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Fortune Real Estate Investment Trust 0778.HK | $1.19B | -11% | -9% | 0% | 0.37× | 4.5% |
| Link REIT 0823.HK | $13.8B | +3% | -3% | -5% | 0.71× | 5.9% |
| Champion Real Estate Investment Trust 2778.HK | $1.80B | -8% | -8% | -3% | 0.35× | 4.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0778.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +4.5% | -0.4% | 7th highest of 21 |
| 6-month return | -10.9% | -7.7% | 10th lowest of 21 |
| Return on equity | -0.3% | 6.0% | 4th lowest of 21 |
| Price / book | 0.37× | 0.99× | 2nd cheapest of 21 |
| ROE the price implies | 4.5% | 8.1% | least demanding of 21 |
| ROE delivered | -0.3% | 6.0% | 4th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Fortune Real Estate Investment Trust 0778.HK | Hong Kong | $1.19B | -11% | -9% | 0% | 0.37× | 4.5% | -0.3% |
| Daiwa Securities Living Investment 8986.T | Japan | $1.22B | -25% | +42% | 7% | 1.02× | 5.4% | 7.1% |
| Mitsui Fudosan Retail Fund Investment 8964.T | Japan | $1.23B | -16% | -6% | 7% | 1.10× | 4.6% | 6.8% |
| Hulic Reit 3295.T | Japan | $1.23B | -17% | +5% | 6% | 0.96× | 4.6% | 5.9% |
| Piedmont Realty Trust PDM | United States | $1.23B | +18% | +3% | -6% | 0.85× | 10.5% | -5.9% |
| Ladder Capital LADR | United States | $1.12B | -13% | +2% | 7% | 0.77× | 8.3% | 6.7% |
| UMH Properties UMH | United States | $1.28B | -6% | +9% | 3% | 2.37× | 18.9% | 2.8% |
| National Healthcare Properties NHP | United States | $1.11B | +8% | -1% | -5% | 1.05× | 16.3% | -5.3% |
| Centuria Industrial REIT CIP.AX | Australia | $1.28B | +1% | +6% | 6% | 0.74× | 9.5% | 6.4% |
| Alexander's ALX | United States | $1.29B | +3% | +8% | 107% | 5.67× | 34.9% | 107.4% |
| TOKYU REIT 8957.T | Japan | $1.10B | -6% | +10% | 9% | 1.37× | 5.2% | 8.6% |
| Growthpoint Properties Australia GOZ.AX | Australia | $1.09B | -2% | 0% | 4% | 0.69× | 8.7% | 3.9% |
| Medical Properties Trust MPT | United States | $1.08B | -65% | +11% | 5% | 0.23× | 5.2% | 5.3% |
| American Assets Trust AAT | United States | $1.32B | +2% | -8% | 2% | 1.19× | 11.1% | 1.9% |
| Esr-reit 9A4U.SI | Singapore | $1.33B | -14% | +5% | 1% | 0.84× | 5.5% | 0.8% |
| Easterly Government Properties DEA | United States | $1.06B | -4% | +11% | 1% | 0.82× | 8.6% | 1.0% |
| NTT UD REIT Investment 8956.T | Japan | $1.06B | -16% | +14% | 6% | 1.15× | 4.8% | 6.1% |
| Altareit AREIT.PA | France | $1.06B | -9% | -20% | -5% | 1.38× | 7.7% | -5.4% |
| Heiwa Real Estate REIT 8966.T | Japan | $1.06B | -15% | +24% | 8% | 1.15× | 5.5% | 8.4% |
| Waypoint REIT WPR.AX | Australia | $1.05B | -2% | -1% | 7% | 0.80× | 8.8% | 6.8% |
| Storage King SKG.AX | Australia | $1.05B | -17% | 0% | 7% | 0.64× | 7.8% | 6.5% |