Link Real Estate Investment Trust, Hong Kong’s biggest property trust, proposed a 13% increase in payout after full-year income surged as it brought shopping-mall rents up to market levels.

The trust, which runs 180 parking garages and shopping malls previously owned by Hong Kong’s government, said today total income for distribution to unitholders rose 13.5% to HK$1.82bn ($235m) from HK$1.6bn a year earlier. It proposed a payment of 83.99 Hong Kong cents per unit.