Photo from Envato Elements

Swire Properties posts $766m loss in 2024

This was mainly due to a larger fair value loss on investment properties

Swire Properties posted a net loss of $766m in 2024, a sharp reversal from a profit of $2,637m in 2023.

The group said the loss was mainly due to a larger fair value loss on investment properties, which increased to $6,299m from $4,401m a year earlier.

Despite the challenging financial performance, the company remains optimistic about its long-term prospects. In its outlook statement, Swire Properties noted that Hong Kong’s office market is expected to stay subdued in the near term, while retail sales growth on the Chinese Mainland shows signs of improvement.

“For the rest of 2025, our priority will be executing our growth plans and enhancing the resilience of our existing portfolios,” the company said. “Despite the ongoing economic uncertainty, we have every confidence that investing in Hong Kong, the Greater Bay Area and the wider Chinese Mainland, as well as South East Asia, continues to be the right thing to do.”

The board declared a second interim dividend of $0.76 per share for 2024. Combined with the first interim dividend of $0.34 per share paid in October, the total dividend for the year is $1.10 per share, up 5% from 2023.

 

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!