Relying on its sufficient cash reserves, ultra-low debt ratio and many rental properties, Sun Hung Kai Properties (SHKP) has demonstrated its resilience during the downturn in the real estate market during the past year.
The group’s profit generated from property sales totalled HK$7.85 billion ($1 billion), and contracted sales reached about HK$37.5 billion in attributable terms as of 30 June 2024. The gross rental income, including contributions from joint ventures and associates, increased by 3% year-on-year to HK$25 billion, and net rental income rose by 3% year-on-year to HK$19 billion.
Adhering to the principle of prudent financial management, SHKP has maintained its net debt ratio at 18% in the past year, demonstrating its healthy financial performance.
Within the flagship commercial real estate in mainland China and Hong Kong, property leasing is one of the main sources of income for SHKP. Gross rental income in Hong Kong reached HK$17.9