Sino Land (0083) saw its interim revenue rise 34.5 percent year-on-year to HK$5.19 billion amid the improving residential market.
Attributable revenue from property sales, including share from associates and joint ventures, jumped 1.82 times to HK$6.91 billion, with Villa Garda, Grand Mayfair III, and ONE PARK PLACE, as well as St. George's Mansions as major contributors.
The developer's net profit dropped 15.8 percent to HK$1.53 billion, while it maintained a dividend of 15 HK cents.
The underlying profit, after excluding the effect of fair value changes on investment properties, was HK$2.2 billion, down 0.9 percent.
Besides, its gross rental revenue fell 2.3 percent to HK$1.71 billion, due to the soft retail environment at the beginning of 2025, which put pressure on rental reversions. Net rental revenue decreased 1.5 percent to HK$1.36 billion.
Overall occupancy of the company's investment property portfolio remained stable at 89.5 percent, the developer said.
Looking ahead, Sino Land is expected to launch La Mirabelle in Tseung Kwan O, for which pre-sale consent has been obtained, while the pre-sale consent for the Wing Kwong Street/Sung On Street will be obtained this year.
Chairman Daryl Ng Win-kong said that amid expectations of further interest rate cuts and a solid recovery in tourism, the group remains optimistic about the overall outlook and expects the residential market to retain its momentum.
