Link REIT: New CEO named; “good progress” in asset disposals talks; Buy

Research evidence excerpt

Link REIT: New CEO named; “good progress” in asset disposals talks; Buy

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Link REIT

New CEO named; “good progress” in asset

disposals talks; Buy

Maintain Rating: BUY | PO: 46.00 HKD | Price: 37.28 HKD

New CEO appointed; good progress in asset disposals 06 July 2026

We maintain our Buy on Link following the appointment of a new CEO after an extensive Equity

global search. Incoming CEO Neil Slater brings strong credentials, including significant

Karl Choi, CFA >>

real estate investment experience across Asia, including HK. More importantly, mgmt. Research Analyst

emphasized that the appointment does not imply any change to Link’s current “back-to- Merrill Lynch (Hong Kong) +852 3508 3108

basics” strategy of focusing on retail-led real estate assets in Asia. Mgmt. also noted karl.choi@bofa.com

that the group has made “good progress” on talks to sell non-core assets and would Fan Tso, CFA >>

make appropriate announcements in due course. Following the completion of its AGM Research Analyst Merrill Lynch (Hong Kong)

and scrip program in mid July, we expect Link to start repurchasing units, funded with its +852 3508 2875

Singapore disposal proceeds (as previously communicated). With HK retail fundamentals fan.tso@bofa.com

stabilizing, potential asset sales to unlock value, and likely resumption of unit buybacks,

we continue to view Link’s valuation (FY27E dividend yield of 6.6%) as attractive.

Stock Data

No change to back-to-basics strategy

Price 37.28 HKD

Link has appointed Neil Slater, currently CEO of European real estate investment

Price Objective 46.00 HKD

manager Redevco, as its new CEO effective 1 March 2027. Slater previously held senior

Date Established 29-May-2026

leadership roles at Aberdeen Investments, including Global Head of Real Assets and CEO