Fast fashion chain H&M is estimated to contribute 10 per cent of Hang Lung Properties’ rental income in Hong Kong this year but the developer faces a decline in retail rents in the mainland, Morgan Stanley says.
Hang Lung Properties, formerly Amoy Properties and part of the Hang Lung Group, is a headquartered in Hong Kong and a constituent stock in the blue chip Hang Seng Index. Hang Lung Properties Ltd was incorporated in 1949 and was taken over by Hang Lung Group in 1980. It became the property investment arm of Hang Lung Group Ltd after the group re-organisation in 1987. The company is led by Ronnie Chan.