China Merchants Commercial Real Estate Investment Trust reported unaudited operating statistics for the three months ended 30 June 2022. For the period, the company reported overall occupancy rate of CMC REIT's office portfolio was little changed at around 87%. Passing rents rose slightly at New Times Plaza and Technology building while at Cyberport Building they weakened marginally because of the higher vacancy.

The retail sector is more sensitive to the effects of the ongoing COVID-19 epidemic and Garden City Shopping Centre did not fare as well as its office assets in the second quarter. The occupancy fell from 88.2% to 84.5%. At the same time the passing rent also deteriorated from RMB 179.0 to RMB 173.3 per sq.m.