Hongkong Land - DBS Research 2024-05-24: Every Cloud Has A Silver Lining.

• Year-to-date, office leasing demand in Hong Kong continued to be impacted by global financial market uncertainties. Nonetheless, Hongkong Land (SGX:H78)’s Central office portfolio fared better than its peers.

Office vacancy improved despite lingering market challenges.

• - Read this at SGinvestors.io -
• Hongkong Land has concluded the renewal for a number of leases expiring in 2024. In Mar-24, only 7% of the portfolio remains subject to expirations in 2024, pointing to relatively lower occupancy risk. That said, negative rental reversion continued to work its way through the portfolio which resulted in lower office income.

Stronger retail tenants’ sales in Hong Kong.

• - Read this at SGinvestors.io -
• Vacancy stayed low at 1.8% in Mar-24 (Dec-23: 1.5%). The overall performance of luxury malls in Beijing and Macau remained stable, with better trading at WF Central in Beijing offset by slower results at One Central in Macau.

Singapore office portfolio a bright spot.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-04-25 Hongkong Land - Partial Divestment Of One Exchange Square; Kills Two Birds With One Stone.

Previous report by DBS:
2025-03-10 Hongkong Land - New Lease Of Life, Dividend Hike A Positive Surprise..

Price targets by other brokers at Hongkong Land Target Prices.

Listing of research reports at Hongkong Land Analyst Reports.

Relevant links:
Hongkong Land Share Price History,
Hongkong Land Announcements,
Hongkong Land Dividend Payout Dates & Corporate Actions,
Hongkong Land News