The Zhitong Finance App learned that Guanjun Industrial Trust (02778) rose nearly 6% in early trading. As of press release, it rose 4.30% to HK$2.185, with a turnover of HK$3,9461 million.
According to the news, according to media reports on October 12, the old store Gold has leased an entire floor area of about 13,000 square feet in Hong Kong's Central Exchange Square to support its global expansion plans. Global real estate services company Colliers previously published a research report stating that the pace of recovery in Hong Kong's central office market is clearly ahead of the overall market, mainly due to the recovery of the capital market, the expansion of the financial services industry, and the continued increase in demand for high-quality office buildings.
UBS released a research report stating that the investment rating of Guanjun Real Estate Trust was upgraded from “neutral” to “buy”, and the target price was raised by 4.3% from HK$2.3 to HK$2.4. The bank believes that due to Guanjun Real Estate Trust's small market capitalization and limited transaction liquidity, the market has always underestimated its potential as a beneficiary of the recovery of the Central Office Building Market. As the vacancy rate of Class A office buildings in Central fell below 8%, the bank expects that the implementation of the “framed equity” tax reform, which proposes a zero tax rate on performance-linked bonuses for hedge funds and alternative asset management professionals, will further stimulate asset management companies' demand for central office leasing.