sydneykiwi property group ltd said an unrealized drop of 58 in the fair value of its realestate portfolio had driven it a halfyear net loss kiwi property reported a net loss of 1511 million new zealand dollars us922 million in the six months through september in the absence of relevant transactional evidence valuers have responded to the current high inflation rising interest rate economic climate by softening property capitalization rates the company said other metrics improved with rent reviews and new leasing rising by 52 and 41 respectively in the halfyear period kiwi property said its adjusted funds from operations rose 36 to nz652 million supported by the release of covid19 rental abatement accruals kiwi property said the sales performance across its asset base rose by 96 compared to a year earlier as foot traffic at its mixeduse and retail centers recovers from the pandemic at its flagship sylvia park property kiwi property said visitation is now broadly back at prepandemic levels while were pleased to have achieved another robust operating performance and strong cash flows the continued discount of our stock price relative to asset values is disappointing and something were squarely focussed on said mark ford the companys chairman kiwi property reaffirmed annual dividend guidance of 570 new zealand cents per share its firsthalf payout totaled 285 cents per share