In Hong Kong, the group’s Central office portfolio reported physical vacancy of 6.3% as at March 31, compared to the 4.9% as at Dec 31, 2022. On a committed basis, vacancy was 5.8%.
Hongkong Land (SGX:H78
) has reported a lower underlying profit on a y-o-y basis for the 1QFY2023 ended March 31. While no figures were reported, the group said that the marginal increase in contribution from its investment properties were more than offset by the reduced contribution from its development properties business.
The lower contribution from the development properties business was attributed to the fewer planned sales completions on the Chinese mainland.
