Henderson Land Posts 66% Profit Surge on Strong Property Sales
SCMP · 1 SOURCESabout 2 hours ago2 MIN
Summary
Henderson Land Development, one of Hong Kong's largest property developers, reported a 66 percent surge in interim profit for the first half of 2026, according to its filing with the Hong Kong Stock Exchange on Thursday . The company, controlled by the family of late founder Lee Shau-kee, saw its unaudited underlying profit attributable to equity shareholders reach HK$5.07 billion (US$646 million) for the January to June period, up from HK$2.02 billion in the same period last year . Henderson Land declared an unchanged interim dividend of 50 HK cents per share, to be distributed on September 17 .
Key Points
- Henderson Land's unaudited underlying profit jumped to HK$5.07 billion for H1 2026, a 66 percent increase from HK$2.02 billion a year earlier
- Attributable contracted sales in Hong Kong surged 188 percent year-on-year to HK$18.11 billion in the first half
- Over 90 percent of residential units at Chester in Hung Hom were sold by end of June, while all 468 units in the first three rounds at One Victoria Cove sold out
- The developer has HK$17.06 billion in unrecognized revenue from sales and plans to launch 3,400 homes across eight projects in the second half
- Co-chairmen Peter Lee Ka-kit and Martin Lee Ka-shing noted that despite geopolitical tensions, Hong Kong's economic fundamentals remain stable
Why It Matters
The strong performance underscores sustained demand for new private residential properties in Hong Kong despite global economic uncertainties, signalling continued confidence in the local property market among buyers . Henderson Land's robust contracted sales and pipeline of new launches indicate the developer is well-positioned to maintain its earnings momentum through the rest of the year, contributing to Hong Kong's broader real estate sector recovery .
The strong performance underscores sustained demand for new private residential properties in Hong Kong despite global economic uncertainties, signalling continued confidence in the local property market among buyers . Henderson Land's robust contracted sales and pipeline of new launches indicate the developer is well-positioned to maintain its earnings momentum through the rest of the year, contributing to Hong Kong's broader real estate sector recovery .