“Hong Kong developers still dominate the market in the next five years”

In recent years, the Chinese capital actively invests in Hong Kong. According to Chan Kai-chung, chairman of Hang Lung Properties (00101), Hong Kong-owned developers are well-versed in the war and their financial strength is strong and the debt ratio is low. They are not afraid of competition from Chinese-funded enterprises. Can dominate the local property market.

Mr Chan said Hong Kong’s high land prices could be the result of fierce competition. It means less and less competition. As the number of participants is reduced, it is believed that as the government increases the supply of land, the upward trend in property prices in Hong Kong will moderately slow down. However, we believe the price Still high, you do not have to worry. When asked if HNA had been looking for Hang Lung to work together to develop Kai Tak, he did not give a positive response. He just said with a smile “(and HNA) are all friends.”

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Executive Director Chen Wenbo added that the Group has been active in Hong Kong and only “won the bid without any success.”

As of the end of last year, the sales value of Hang Lung Properties for sale was only $ 1.6 billion, mainly for the luxury of Blue Pool Road. Chen Qizong said that this is only the cost price, the actual salable value is higher. Mr Chan also pointed out that the ownership of the Group in Amoy Estate has increased to 80% and the redevelopment is being studied. However, there are no constructive proposals for redevelopment yet.

Affected by a 35.7% drop in property sales revenue, Hang Lung Properties posted a net profit decrease of 12.8% to RMB5.53 billion last year and a final dividend of RMB0.58. Parent company Hang Lung Group (00010) last year’s basic net profit also decreased 12.1% to 33.14 billion yuan, the final interest rate remained 0.61 yuan. Credit Suisse believes that the mainland retail performance has improved, but the Group’s decision not to increase the final dividend disappoints.