165 views
Photo from Shutterstock

Hongkong Land’s Q3 profit rises on China build-to-sell completions

However, the company will no longer pursue new standalone build-to-sell projects.

Build-to-sell completions in China boosted Hongkong Land’s underlying profit in Q3 2024.

In Q3, the group recorded attributable interest in contracted sales of US$169m.

Hongkong Land, however, will no longer pursue new standalone build-to-sell projects, focusing solely on ultra-premium integrated commercial property opportunities.

Meanwhile, the group also reported lower contributions from investment properties due to reduced income from its Hong Kong Central portfolio.

In Hong Kong, flight-to-quality demand underpinned the performance of the group’s Central office portfolio, pushing vacancy to 7.6%.

The group also suffered from lower contributions from its Landmark retail portfolio amidst tenant movements.

Vacancy for its Landmark retail portfolio, however, remained low at 1.9%.

In Singapore, the group’s office portfolio remained fully occupied and had positive rental reversions.

Physical vacancy in Singapore was 1.5%, down from 2.6% in Q2.

 

 

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!