Kerry Properties profit up 16% to $938m in 2025

Revenue also increased 17% to $25.02b.

Kerry Properties posted a 16% increase in profit attributable to shareholders to $938m in 2025, up from $808m a year earlier.

Underlying profit, however, fell 22% year on year to $2,008m due to weaker office rental performance, higher taxes, and increased project-related expenses. Lower impairment provisions partly offset the decline.

Revenue increased 17% to $25.02b, supported by higher property sales in Hong Kong, though rental income declined slightly.

The group noted that the Hong Kong residential market showed gradual improvement during the year, with moderate price gains and a rebound in transaction volumes.

Despite the recovery, buyers remained selective due to a high inventory of completed units, with demand driven by location, quality, and product differentiation.

“In 2025, we lightened our foot on the sales gas pedal for certain development property projects to seek better margins,” the group said. “This is based on improving supply and demand dynamics for a few of our higher-end developments, supported by the Group’s improved cashflow and gearing position.”

Apartment rentals remained strong, whilst office and retail segments continued to weaken.