China Rental ReversionsSignificant rental reversions in China, including declines around 21.6%, have reduced effective rents and pressured rental income in that market.
Occupancy-driven Pricing PressureEmphasis on maintaining high committed occupancies may require accepting lower rents, limiting revenue upside as leasing markets recover.
Overseas Portfolio Recovery RiskContinued challenges in overseas operations could delay portfolio recovery and slow the anticipated re-rating from improved asset performance.