招商局商业房托(01503)：第四季度写字楼组合的平均出租率为77%

Group 1 - The average occupancy rate of the office portfolio for China Merchants Commercial REIT was 77% in Q4, with an overall property occupancy rate of 80.8% [1] - The Shenzhen office leasing market remains under pressure due to high supply and rental declines, with structural differentiation in demand and ongoing de-leveraging pressure [1] - The Grade A office building, New Era Plaza, saw a 9.2 percentage point increase in occupancy to 66.1%, with rental rates rising from RMB 139.2 per square meter to RMB 141.9 per square meter [1] Group 2 - The occupancy rate of the Technology Tower decreased by 6.6 percentage points to 72.8% due to the expiration of leases from major tenants, who may continue to adjust their leasing strategies [2] - The occupancy rates for the second phase of the Technology Tower and Digital Tower also declined by 10.3 percentage points and 6.4 percentage points, respectively, prompting the REIT manager to develop de-leveraging plans [2] - The Garden City Shopping Center maintained a high occupancy rate, benefiting from increased foot traffic and sales during the year-end peak season, with positive outlooks for future performance driven by the upcoming Spring Festival and continued passenger flow from Metro Line 12 [2]