Hang Lung flags ‘tough slog’ for property, as it looks to mainland malls for growth

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Hang Lung Properties, a Hong Kong developer, anticipates a challenging period for the property market in both Hong Kong and mainland China. The company reported a decrease in net profit and revenue for 2025. Despite these challenges, Hang Lung is focusing on mainland China's retail sector for growth, citing efforts to improve tenant mixes and attract new brands to its 11 mainland shopping malls. Chairman Adriel Chan stated that mainland retail offers the best hope for recovery, as the company navigates pressure across all property segments. The company's mainland mall portfolio saw a slight increase in rental revenue and occupancy.
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Key Claims (5)
AI-ExtractedRental revenue from its mainland mall portfolio rose 1 per cent.
Revenue declined 11 per cent to HK$9.95 billion in 2023.
Net profit attributable to shareholders fell 16 per cent to HK$1.8 billion in 2023.
Hang Lung Properties is pinning its medium-term outlook on a recovery in mainland Chinese consumption.
There’s pressure across the board.
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