Despite the challenging real estate market, Sun Hung Kai Properties (SHKP) has still been able to maintain a stable profit scale, and a series of residential projects launched by the firm has allowed it to out in a significant performance in residential development during the research period.
In Hong Kong, SHKP achieved contracted sales of approximately HK$25.6 billion ($3.3 billion) in attributable terms, mainly from the sales of residential projects Yoho West Phase 1, The Yoho Hub II and Cullinan Harbour.
Following fresh housing stimulus and measures to ease home-purchase restrictions in major cities of mainland China in 2024, SHKP recorded attributable contracted sales of Rmb11 billion ($1.5 billion) on the mainland during the year, mainly from the sale of units from landmark residential projects, including Shanghai Arch, located next to the Bund in Shanghai, and the third phase of the residential portion of the joint-venture Hangzhou IFC in Hanghzhou.
Over the next 10 months, SHKP will launch a number of new residential projects in Hong Kong and mainland China, including first phase of Cullinan Sky, a new block at The Yoho Hub II, a joint venture on Prince Edward Road West, the second phase of Yoho West and the first phase of Sai Sha and Lake Geneve in Suzhou, Hangzhou IFC, and Oriental Bund in Foshan.
SHKP