In the group’s investment property segment, Hongkong Land’s central office portfolio vacancy stood at 7.6%, compared to 12.2% for the overall central district grade A office market. Physcial vacancy stood at 9.0%, following the timing of planned tenant movements.
Hongkong Land has reported a higher underlying profit for the 3QFY2024 ended September, as compared to the same period last year. This was due to more build-to-sell completions on the Chinese mainland.
Meanwhile, total contributions from investment properties saw a slight drop in 3QFY2024, following lower contributions from the group’s Hong Kong CENTRAL portfolio. This was partially offset by cost management measures, says the group.
