• Sat
  • Dec 20, 2014
  • Updated: 8:35am

SHKP

Sun Hung Kai Properties is one of Hong Kong’s largest property groups, with revenue of HK$68.4 billion in the 2011-2012 financial year, and profit attributable to shareholders of HK$43.08 billion. The company has been shaken in recent years by disputes between family members, with chairman and chief executive Walter Kwok being forced to step down in a dispute with his brothers Thomas and Raymond. In March, the Independent Commission Against Corruption (ICAC) arrested senior officials as part of a corruption probe that also included former chief secretary Rafael Hui. 

SHKP sees tough times ahead for property developers in Hong Kong

SHKP’s co-chairmen Raymond Kwok (left) and Thomas Kwok, and director Thomas Chan at the results briefing yesterday. Photo: Felix Wong

Sun Hung Kai Properties expects competition to heat up next year, with heavy subsidies on stamp duties to cut profit margins, after it reported a 14.99 per cent increase in full-year core profit.

Saturday, 13 September, 2014, 7:17am 1 comment

Sun Hung Kai Properties bond issue raises S$320m in Singapore

SHKP's Singapore dollar bond was issued at a time when property sellers and buyers are questioning whether property prices in Hong Kong and on the mainland will fall significantly over the next few years. Photo: AP

Sun Hung Kai Properties, the world's largest listed developer by market value, raised S$320 million (HK$1.99 billion) yesterday through a long-term Singapore dollar corporate bond, signalling that global investors remain interested in Hong Kong and mainland property businesses.

10 May 2014 - 10:10am

SHKP outbids Cheung Kong for Lohas Park project

Lohas Park area has long been dominated by Cheung Kong, which acquired the first three phases of the project between 2005 and 2007. Photo: Thomas Yau

Sun Hung Kai Properties yesterday made its entry into Tseung Kwan O's Lohas Park area, which has long been dominated by rival Cheung Kong, by winning the fourth phase of the residential development project.

30 Apr 2014 - 4:50am

Discounts from developer SHKP point to push on cash flow

SHKP launched a new residential project with discounts. Photo: Reuters

Sun Hung Kai Properties launched its Mount One residential project in Fanling with significant price concessions and the offer of a one-year bridge loan equivalent to as much as 70 per cent of a flat's value as an added lure for buyers.

9 Apr 2014 - 1:41am

SHKP fundraising to boost land bank

Raymond Kwok (left) and Thomas Kwok say they will continue to increase their family's stake in the company. Photo: Edward Wong

Sun Hung Kai Properties said first-half core profit fell 7.8 per cent as it announced plans to raise up to HK$22 billion by issuing bonus warrants to be used to build up its land bank in Hong Kong in the years ahead.

1 Mar 2014 - 5:02am

SHKP price cuts help offload Riva flats

SHKP price cuts help offload Riva flats

Sun Hung Kai Properties' price cutting strategy proved an effective tactic in attracting home buyers when it relaunched its residential project in Yuen Long, pricing it as low as HK$7,583 per square foot.

All 62 units at the Riva in Kam Tin were sold by 6pm yesterday, according to market sources.

19 Feb 2014 - 1:38am

SHKP's Riva units on offer at 15pc below market prices

SHKP says the launch prices for the Riva units are attractive.

Sun Hung Kai Properties launched the latest batch of 152 units at its luxury Riva residential project in Yuen Long at prices that were up to 15 per cent below the current prices in the area.

11 Feb 2014 - 2:00am

Five-year feud at family-owned Hong Kong developer appears to be at an end

Walter Kwok Ping-sheung

In a banquet celebrating the 84th birthday of matriarch Kwong Siu-hing last month, guests and senior company executives had a surprise - Walter Kwok Ping-sheung, Kwong's eldest son and the ousted chairman of Sun Hung Kai Properties, sat next to her on stage to toast guests.

29 Jan 2014 - 5:03am 2 comments

Feuding Kwok family reach ‘amicable agreement’ over SHKP property empire

Walter Kwok Ping-sheung (inset) and Sun Hung Kai Properties' headquarters in Wanchai. Photos: AP, Sam Tsang

The Kwok family, which controls Hong Kong's second-biggest developer, Sun Hung Kai Properties, announced yesterday that it had reached "an amicable agreement regarding the treatment of the family's interests" that control the HK$260 billion real estate empire.

29 Jan 2014 - 5:12am 1 comment

Mall boss makes space for big ideas

SHKP's leasing chief Maureen Fung at the APM mall, popular for its late hours. The opening of the centre in Kwun Tong in 2005 ushered in a rapid growth of retail projects, especially in Shanghai. Photo: Warton Li

As general manager of Sun Hung Kai Properties' leasing department, Maureen Fung Sau-yim has seen the development of a string of new shopping malls over the past decade, each one bigger than the last.

28 Jan 2014 - 6:40pm 1 comment

Henderson, SHKP close in on hefty loan deals

Henderson, SHKP close in on hefty loan deals

Henderson Land and Sun Hung Kai Properties (SHKP) are close to finalising syndicated funding deals - both for HK$13.8 billion - that confirm the cost of loan capital is dropping quickly for Hong Kong's biggest corporate names.

3 Jan 2014 - 1:55am

SHKP offers up to 20pc discount for new homes

SHKP will offer a 7.5 per cent discount to Century Gateway II buyers until January 30, plus an additional 4 per cent cut if the transaction is completed within 100 days. Photo: Reuters

Sun Hung Kai Properties has priced the first batch of flats at its upmarket residential development Century Gateway II, at West Rail's Tuen Mun Station, at up to 20 per cent below those in the first phase launched in September last year.

12 Dec 2013 - 3:25am 1 comment

SHKP sells two luxury homes for Deep Water Bay HK$493m

SHKP sells two luxury homes for Deep Water Bay HK$493m

Sun Hung Kai Properties yesterday sold two luxury houses at Shouson Peak in Deep Water Bay for almost HK$500 million even after a discount of up to 8 per cent and a 50 per cent subsidy on stamp duty. A 3,603 square foot house with a 750 sq ft terrace and a 1,143 sq ft garden changed hands for HK$262.8 million, 5 per cent lower than the listed price of HK$276.67 million.

3 Dec 2013 - 6:37am

SHKP in 3-year warranties for homes

SHKP co-chairmen Thomas Kwok Ping-kwong (right) and Raymond Kwok Ping-luen. Photo: Edward Wong

Ratcheting up the competition, Sun Hung Kai Properties yesterday said it would provide three-year warranties for new homes rather than the established market practice of one year.

26 Nov 2013 - 3:01am

SHKP keen on China prospects

SHKP's chiefs Raymond Kwok (left) and Thomas Kwok do not expect any big price falls in the Hong Kong housing market. Photo: Edward Wong

Sun Hung Kai Properties says it will explore investment opportunities on the mainland that may emerge in the wake of the just-concluded third plenary meeting of the Communist Party.

15 Nov 2013 - 3:51am

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