Performance | Henderson Land's underlying profit fell 38% last year; The Henderson occupancy rate 95%

SighingCashier · 2026-03-23T13:30:53+00:00

Hang Lung Properties' results for the end of last year show that profit attributable to shareholders fell 10.21% to HK$5.653 billion, with earnings per share of HK$1.17. Underlying profit decreased significantly by 37.97%, primarily due to reduced gains from land recovery. Despite robust residential sales, the board still recommended reducing the final dividend to HK$0.76 per share. The group plans to launch 8 Hong Kong development projects, with projected increases in rental income. Current occupancy rate stands at 95%.

SighingCashier

2026-03-23 13:30:53

Abstract generation in progress

Henderson Land Development (00012) announced that for the year ending last year, shareholders’ profit was HKD 5.653 billion, a decrease of 10.21% year-on-year, with earnings per share of HKD 1.17.

During the period, shareholders’ basic profit was HKD 6.063 billion, down 37.97% year-on-year. The decrease in basic profit was mainly due to approximately HKD 4.768 billion of attributable gains from the government reclaiming certain New Territories land and the disposal of the controlling interest in an investment property in North Point last year; whereas this year, attributable gains from land acquisition amounted to only HKD 599 million.

Henderson stated that over the past three weeks, the war in Iran has brought many economic uncertainties. Although the group’s sales of residential units have been promising in the past half-year, the board recommends reducing the final dividend to HKD 0.76, a decrease of 41.54% year-on-year, for prudence.

During the period, the attributable revenue from property development in Hong Kong was approximately HKD 15.212 billion, an increase of 23% year-on-year. The attributable pre-tax profit from property development in Hong Kong was about HKD 1.566 billion, a decrease of 66.3% year-on-year. Based on self-occupied floor area, the group had land reserves of about 22.4 million square feet in Hong Kong at the end of last year.

The group plans to launch 8 development projects in Hong Kong this year. Including remaining inventory, there are approximately 4,700 self-occupied residential units or about 2.3 million square feet of self-occupied residential floor area, as well as about 180,000 square feet of office and industrial space, which are expected to be sold by 2026.

The Henderson occupancy rate has reached 95%

By the end of last year, the total sales amount of self-occupied properties in Hong Kong and Mainland China not yet recognized was about HKD 12.784 billion, of which approximately HKD 10.436 billion is expected to be recognized upon completion and handover to buyers this year. Considering the sales from January 1 to March 15 this year, totaling about HKD 5.039 billion in Hong Kong and Mainland China, the total expected recognized sales this year has increased to HKD 14.83 billion.

In terms of leasing, The Henderson occupancy rate has now reached 95%. Construction of Central Yards is progressing well, which will become another landmark in Hong Kong’s Central business district. The first phase of the shopping mall and office buildings is expected to apply for occupation permits in Q4 this year and to be occupied in 2027. Over 70% of the office space and ancillary floors, or 223,000 square feet, have been leased to a financial institution. The group’s recurring rental income will further increase.

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