Sino Land net profit rises 14.2% YoY as revaluation loss narrows

Underlying profit fell 6.4% despite the reported earnings increase.

Sino Land’s net profit rose 14.2% year on year (YoY) to $4.59b for the year ended 30 June, whilst underlying profit fell 6.4% to $4.79b.

The increase in reported profit reflected a fall in the investment-property revaluation loss to $192m from $1.08b in the previous financial year. The loss was a non-cash item.

Revenue rose 13.3% to $9.27b, whilst property-sales segment profit, including contributions from associates and joint ventures, increased 8% to $1.10b.

The group’s attributable gross rental revenue fell 1.5% to $3.43b, despite portfolio occupancy rising to 90% from 89.6% a year earlier.

Sino Land attributed the decline to continued challenging operating conditions in the retail and industrial sectors, partly offset by increased contributions from its residential portfolio and improved office occupancy.

Hotel revenue rose to $1.57b from $1.51b, whilst operating profit increased to $519m from $475m.

Sino Land recorded contracted sales of more than 3,500 residential units in Hong Kong during the year, generating $12.1b in attributable sales proceeds.

As at 30 June, the group had more than $6.6b in attributable contracted sales from projects already launched and sold but not recognised.

The group won three land tenders during the year, including the Kam Sheung Road Station Phase Two Property Development in Yuen Long.

After the financial year ended, Sino Land and its corporate partners were awarded the HSK Pilot Area project.

The company said Hong Kong’s first Five-Year Plan is expected to provide a strategic roadmap for the city’s long-term development, with particular emphasis on the Northern Metropolis.

“Hong Kong’s economy demonstrated encouraging momentum in the first half (H1) of 2026, supported by vibrant capital market activity, resilient external trade and continued growth in visitor arrivals,” said Daryl Ng Win Kong, Chairman of Sino Land.

Hong Kong’s real GDP expanded 5.1% YoY in H1 2026, according to Sino Land, whilst IPO fundraising reached a five-year high.