Property sales revenue more than quadrupled to HK$16.4 billion as the company sped up the sales of its projects in Hong Kong. The rise in profit followed two consecutive years of decline amid a three-year property downturn.
Hong Kong’s biggest property developer posted an increase in first-half profit as it navigated the city’s prolonged real estate slump with a jump in property sales revenue.
Sun Hung Kai Properties’ underlying earnings, which exclude property revaluations, climbed 17% from a year earlier to HK$10.5 billion ($1.81 billion) in the six months ended Dec 31, 2024, the company said in a filing Thursday.
