Property News · February 24, 2022

Hong Kong developers Sun Hung Kai Properties, Hysan post declining profits, say more challenges ahead


Two of Hong Kong’s biggest property developers and retail landlords have posted declining results and foresee more challenges ahead, as the city’s social distancing rules keep consumers away from shopping centres.Sun Hung Kai Properties (SHKP), which owns neighbourhood shopping centres New Town Plaza and Yoho Mall in Sha Tin and Yuen Long, two districts with the most number of Covid-19 cases, said its interim core profit fell 15 per cent to HK$14.8 billion (US$1.9 billion) in the six months…

Source : South China Morning Post
Read more…Hong Kong developers Sun Hung Kai Properties, Hysan post declining profits, say more challenges ahead