However, the figure missed the average estimate of HK$22.4 billion from 10 analysts surveyed by Bloomberg.
Hong Kong’s biggest developer Sun Hung Kai Properties saw its profit rise 0.5% as Hong Kong’s real estate markets showed signs of bottoming out.
Underlying earnings, which exclude property revaluations, increased to HK$21.9 billion ($3.6 billion) in the year ended June 30, Sun Hung Kai said in a filing on Thursday.
