Is it sound to build a portfolio consisting heavily on reits? Im looking for good dividends?

Good dividend stocks does not have to only consist of REITs. You can also consider large consumer companies or utility companies that have relatively consistent dividends. Those will help diversify your concentration risk in your portfolio.

Your current portfolio has a higher interest rate risk attached to it and are co-related to each other. It will be better to find 1 - 2 more industries to invest in.

If you just want a stream of passive income and are okay if your capital fluctuates, then feel free to place your money in REITs. It's nice seeing a lump-sum of money being transferred to your bank account every quarter / half-yearly. ​​​

Absolutely not. Like holy crap no. Shudders

That's way too much concentration in property as an asset class. I'd limit property exposure to 20% at max, and even then I think it's way too much. 10-15% would be more ideal for an aggresive portfolio.

Diversify diversify diversify. Across asset classes, industries, and geographies.

50% in financials is also a tad bit high. Too cyclical especially with real estate, another cyclical industry. You'd want to hold more defensive and sensitive industries like Tech, Telecommunications, consumer staples, healthcare.