BUSINESSSCMP WORLD
Hang Lung profit falls as property losses and weak offices offset record mall rents
Hang Lung Properties' underlying profit fell 10% to HK$1.44 billion in H1 2023 due to property sales losses, higher finance costs, and weak mainland China office market demand, despite a 23% revenue increase driven by Hong Kong residential project handovers like The Aperture and record mall rental income.
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- Hong Kong airport profit falls 16.8% to HK$2b as expenses, salvage operation bite
- Hong Kong property sales more measured as interest rate increase looms
- Hong Kong’s property market set to cool despite run of record-breaking deals
- Hong Kong’s commercial property slump enters new phase as lenders take tougher stance
- Rare 6-month office flip suggests Hong Kong’s prime market is stabilising
- Hong Kong property sales more measured as interest rate increase looms