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Sun Hung Kai Properties profit rises as HK residential rents recover
Underlying profit for the year ended June climbed 4.6 percent to HK$22.85 billion, while contracted sales totaled HK$38.1 billion in Hong Kong.
Sun Hung Kai Properties reported a 4.6 percent rise in underlying profit for the year ending June, reaching HK$22.85 billion (US$2.91 billion), excluding investment property revaluations, according to a filing. The developer said its reported profit increased to HK$21.43 billion after posting a HK$1.38 billion net revaluation gain, compared with a HK$742 million loss last year.
The company attributed the improvement to a steady lift in residential rents, citing a sustained inflow of talent and students that it said supported homebuyer confidence. It also pointed to encouraging demand for primary residential projects with premium amenities and transport links.
Sun Hung Kai Properties said contracted sales during the year totaled HK$38.1 billion in Hong Kong, with notable projects including Sierra Sea of Sai Sha Residences and Cullinan Sky and Cullinan Harbour in Kai Tak. For the rest of the year, it plans to launch Sierra Sea phase 2C and phase 1A of the Tung Shing Lei project in Yuen Long.
The results reflected improved prospects for Hong Kong’s residential segment after a three year slump in 2025, with lived in home prices jumping 3.59 percent, according to Rating and Valuation Department data cited in the filing, with new launches expected in the first half of 2027 including projects in Tai Wai, Sha Tin, and Kwu Tung North.