Swire Properties (1972) saw its underlying profit surge 27 percent to HK$8.6 billion last year, driven by income from asset disposals.
Loss for 2025, however, doubled to HK$1.5 billion as fair value loss on investment properties increased to HK$7.7 billion.
Recurring underlying profit decreased by 3 percent to HK$6.26 billion in 2025, primarily reflecting the loss of rental income from the Brickell City Centre retail mall after its disposal, a reduction in office rental income in Hong Kong, and higher sales and marketing expenses.
The developer declared a second interim dividend of 80 HK cents, bringing the full-year payout up by 5 percent to HK$1.15.
It aims to deliver a “progressive, mid-single digit annual growth” in dividends in the future.
Its revenue jumped 11 percent to HK$16 billion last year.
High vacancy rates and new supply exerted downward pressure on Hong Kong’s office rents until the fourth quarter, when the market gained renewed momentum, underpinned by an active IPO market and improved sentiment in the financial sector, Swire Properties said.
The company said the retail market also demonstrated signs of mild growth in the second half of 2025, notwithstanding structural challenges such as the ongoing trend for outbound travel and changes in customer spending behaviour.
Executive director and chief financial officer Fanny Lung Ngan-yee has resigned, and the roles will be taken over by Roy Shearer, it said.
Martin Murray will cease to be a non-executive director to spend time on other businesses of the Swire Pacific group.
All the changes will take effect from the conclusion of the 2026 annual general meeting to be held on 12th May 2026.
