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Swire Properties (1972) saw its underlying profit, which excludes fair value changes of investment properties, rise 10.86 percent year-on-year to HK$4.9 billion in the first half of 2026, primarily driven by the sale of two residential properties at 6 Deep Water Bay Road in Hong Kong.
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This was partly offset by the nonrecurring profit recognised in the first half of 2025 on the disposal of our interests in the Brickell City Centre retail mall and an adjacent land parcel in Miami, United States, according to an exchange filing.
The developer also swung to a net profit of HK$3.63 billion during the period, compared with a loss of HK$1.2 billion a year ago.
It declared a first interim dividend of 37 HK cents per share, up nearly 6 percent from the prior year.
On the HK$100 billion investment plan, the developer noted that it has invested close to 70 percent of its 10-year plan to develop projects in Hong Kong, the mainland, and Southeast Asia.
Revenue rose 7.9 percent to HK$9.41 billion.
Its Hong Kong office portfolio generated HK$2.45 billion in gross rental income, broadly in line with the same period in 2025, with 90 percent let.
Despite the challenges posed by high vacancy rates and new supply, the city's office market gained renewed momentum, underpinned by an active initial public offering market and improving sentiment in the financial sector, Swire Properties said.
Gross rental income from the retail portfolio in Hong Kong increased by 2 percent to HK$1.19 billion, and its malls were almost fully let throughout the period.
