Property News · February 25, 2022

New World Development says lower income in Hong Kong under rent deferral plan will be offset by strong revenue in mainland China


Hong Kong property developer New World Development (NWD) said lower rent income following a government plan allowing small firms to defer payments for up to six months will be offset by strong revenue in mainland China.The locally-listed developer’s interim underlying profit, excluding changes in the valuations of properties, rose 4.8 per cent from a year ago to HK$3.9 billion (US$499.4 million) for the six months to December, it said on Friday. Its revenue remained flat at HK$35.6 billion. It…

Source : South China Morning Post
Read more…New World Development says lower income in Hong Kong under rent deferral plan will be offset by strong revenue in mainland China