0823.HK

What drives the range

This REIT analysis combines reported NAV of HKD 57.75 per unit with the latest full-year distribution of HKD 2.5361. The base case applies a 25% NAV discount, a 9% required return and 1% perpetual distribution growth, producing HKD 37.51 per unit, 1.9% below the recorded market price of HKD 38.22. The range extends from HKD 30.20 under wider discount and funding pressure to HKD 44.93 if the NAV discount narrows and distributions improve. The recorded price sits near the centre of the range, so the evidence is more consistent with roughly balanced valuation than a clear mispricing. This is scenario research, not an investment recommendation.

Method valuation-v1 · Calculated 2026-09-08 13:10 · Reviewed by hsitradenotification@gmail.com