15 August 2014 - Swire Properties (1972) yesterday announced its interim results for 2014. First-half underlying profit rose 34 percent to HK$3.78 billion from a year earlier, beating analysts' estimates, on higher rental income and higher home sales.
Gross rental income from its offices rose 6.5% to HK$2.79 billion and earnings from home sales more than doubled to HK$807 million due in large part to profits obtained from two local luxury projects: “Mount Parker Residences” and “Argenta”.
Commenting on how demand for luxury homes has picked up over the last three months, Swire Properties Chief Executive Martin Cubbon is confident that the trend is likely to continue into the second half. He also said that a possible interest rate hike would unlikely have a huge impact on property prices.
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