Published:
Sun Hung Kai Properties underlying profit up 55%
This is a record high for the developer that has so far spent more than HK$11 billion for sites purchase from the Hong Kong government.
A Bloomberg report noted, “Profit excluding property revaluations rose to HK$21.5 billion ($2.8 billion) for the 12 months ended June 30, the Hong Kong-based builder said in a statement to the city’s stock exchange.”
Sun Hung Kai Properties, according to the report, has spent more than HK$11 billion buying sites from the Hong Kong government this year even as rising mortgage rates and concerns that the global economic expansion is slowing stalled home price growth.
View the report here.
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