Henderson Land Development, one of Hong Kong’s largest developers, reported a 66 per cent rise in its interim profit for the first half of the year following a strong run of property sales, according to its filing with the Hong Kong stock exchange on Thursday.
The developer, controlled by the family of its late founder Lee Shau-kee, said its unaudited underlying profit attributable to equity shareholders had reached HK$5.07 billion (US$646 million) for the January to June period, up HK$2.02 billion from a year earlier.
Henderson Land declared an interim dividend of 50 HK cents per share, unchanged from the same period last year, which will be distributed on September 17.
“During the first half of 2026, the group successfully capitalised on favourable market conditions to launch a number of urban projects for sales,” said co-chairmen Peter Lee Ka-kit and Martin Lee Ka-shing in the filing.
Recent launches included batches of properties at developments including Chester and One Victoria Cove in Hung Hom, Highwood in Ma Tau Kok, and Victoria Voyage in Kai Tak, they said.
More than 90 per cent of the flats at Chester had been sold by the end of June, while all 468 residential units available in the first three rounds of sales at One Victoria Cove had sold out, the executives added.
Along with sales of other projects, the group’s attributable contracted sales in Hong Kong had surged 188 per cent to HK$18.11 billion in the first half, according to the company.
Meanwhile, about HK$17.06 billion had yet to be recognised as revenue from sales, the group said.
In the second half of the year, Henderson Land planned to launch eight development projects with a combined 3,400 homes in Hong Kong, including the developer’s remaining stock, it said.
Source: South China Morning Post (https://bit.ly/4qw3Ly6)
