Chinese Estates Holdings, controlled by the family of property tycoon Joseph Lau Luen-hung, said earnings are set to fall for a fifth straight year to the lowest in nine years. After selling one apartment unit in 2018 amid a cooling market, the group sold none in 2019 as home prices slumped.The developer issued a warning late on Wednesday, saying earnings could drop by 17 to 27 per cent in the year ended December 31, 2019, from HK$1.01 billion (US$130 million) in 2018. That would be the least…
Source : South China Morning Post
Read more…Chinese Estates, under Hong Kong’s fourth richest tycoon, says profit set to fall for a fifth year as company sells zero homes















