The Novo Land development in Tuen Mun, launched two months ago, has brought in HK$9.4 billion for Sun Hung Kai Properties. Photo: SCMP / Xiaomei Chen
The Novo Land development in Tuen Mun, launched two months ago, has brought in HK$9.4 billion for Sun Hung Kai Properties. Photo: SCMP / Xiaomei Chen

Sun Hung Kai Properties foresees constrained demand amid rising rates and Covid-19 disruptions, as profit declines

  • Hong Kong’s largest property developer by market capitalisation reported a 3.8 per cent drop in underlying profit for the year ended in June
  • Amid the ‘fluctuating pandemic situation’, the company said it will speed up sales to increase cash flow

The Novo Land development in Tuen Mun, launched two months ago, has brought in HK$9.4 billion for Sun Hung Kai Properties. Photo: SCMP / Xiaomei Chen
The Novo Land development in Tuen Mun, launched two months ago, has brought in HK$9.4 billion for Sun Hung Kai Properties. Photo: SCMP / Xiaomei Chen
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