Fortune Real Estate Investment Trust has announced the payment of its manager's base fee to ESR Asset Management (Fortune) Limited. The base fee amounts to 0.3% per annum of the property values and is payable quarterly in arrears. For this period, the payment will be made through a combination of cash and the issuance of 4,518,257 new units in Fortune REIT to the manager. The number of units issued as part of the fee is within the limits set by the REIT Code, which restricts such issuances to a maximum of 3% of the total number of outstanding units for each financial year without requiring unitholder approval.

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