Blue Coast II

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Hong Kong's homebuyers brave storm signal at city's first post-rate cut property sales
Yahoo Finance· 2025-09-19 09:30
Core Insights - Hong Kong's homebuyers showed strong demand for apartments despite adverse weather conditions, with significant sales occurring after a reduction in prime lending rates by commercial banks [1][4] - New World Development and CK Asset Holdings successfully sold a combined total of 44 apartments, representing 23% of the 190 flats available during the sales event [1] - The average price for units sold by New World in the House Muse project was HK$18,251 (US$2,347) per square foot after discounts, while CK Asset's Blue Coast II units averaged HK$22,684 per square foot [2][3] Company Performance - New World Development sold 39 out of 120 units in the House Muse project, with five units sold via tender [2] - CK Asset sold five units from the remaining 70 in the Blue Coast II project, with prices ranging from HK$10.2 million to HK$20.2 million [3] Market Trends - The recent rate cut is viewed as the beginning of a downward trend in lending costs, which is expected to encourage more buyers to enter the market [5] - Analysts believe that government measures following the Chief Executive's policy address will help stabilize the property market, enhancing its absorption capacity [4][6]
长实指有兴趣在香港做多些投资
3 6 Ke· 2025-08-15 01:53
Core Viewpoint - The company reported a significant decline in net profit for the first half of the year, indicating challenges in the Hong Kong retail and commercial property leasing market, while expressing interest in further investments in Hong Kong [1][2][3] Financial Performance - The company's net profit attributable to shareholders for the first half of the year was HKD 6.302 billion, a decrease of 26.75% year-on-year [1] - Earnings per share stood at HKD 1.8, with an interim dividend maintained at HKD 0.39 [1] - The revaluation surplus before investment properties increased by 1.2% to HKD 6.805 billion, while property sales revenue rose by 58.9% to HKD 7.366 billion, although sales revenue decreased by 2.9% to HKD 1.768 billion due to discounts offered in a weak market [2] Investment Strategy - The company aims to maintain a diversified investment and asset portfolio, leveraging its financial strength and low capital debt ratio to seize global market opportunities [1][2] - There is a strong interest in investing more in commercial and retail properties in Hong Kong, as well as land acquisition, contingent on attractive returns and pricing [2][4] Property Development - The company anticipates profits from multiple projects in Hong Kong, Singapore, and Beijing in the second half of the year, although losses from the Blue Coast project may offset some contributions [3] - The Blue Coast project has sold 900 units out of 1,200, generating HKD 15.2 billion in cash, with an average transaction price of HKD 17 million per unit [3] Rental and Occupancy Rates - The overall occupancy rate for the Hong Kong investment property portfolio is approximately 86%, with specific rates of 75% for the first phase of the Changjiang Center [4] - The hotel business reported an occupancy rate of 89.1% for overnight stays and 88.4% for long-term serviced apartments [5] Financial Position - As of June 30, the company had bank deposits and fixed deposits totaling HKD 33 billion, with a net debt of HKD 21.4 billion, resulting in a net debt to total capital ratio of about 5% [5]