Sun Hung Kai Properties Limited (SHKP) today announced its 2025/26 annual results.

During the year under review, the global economic outlook remained uncertain due to persistent regional conflicts and high energy prices. Despite a challenging operating environment, SHKP continued to achieve growth by delivering high-quality and customer-centric properties, enhancing its diversified property investment portfolio, and upholding prudent financial management. 

In Hong Kong property sales, the Group recorded attributable contracted sales of about HK$38.1 billion. Major contributors included SIERRA SEA of Sai Sha Residences, and Cullinan Sky and Cullinan Harbour in Kai Tak. Sai Sha Residences, in particular, received an overwhelming response, with over 3,000 units sold in 10 months. The Group plans to launch SIERRA SEA Phase 2C in Sai Sha, and Phase 1A of the Tung Shing Lei project, which is located close to YOHO Mall in Yuen Long, by the end of this year. In the first half of next year, the Group plans to launch a new project in Tai Wai, Phase 1 of the Kwu Tung North project, a project near MTR City One Station in Sha Tin and Phase 1B of the Tung Shing Lei project in Yuen Long.  

As to the Northern Metropolis, the Group is demonstrating its support with concrete actions through eight projects in the area. Providing approximately 10,000 residential units alongside commercial and transport amenities, these projects will help transform the area into a place good for living, working, learning and travelling. In addition, the Group has provided several sites in the Northern Metropolis, free of charge, for developing transitional housing, Light Public Housing and other community projects. The Northern Metropolis will drive the growth of various industries, with the University Town serving as one of the key engines for innovation and technology development. The Group will continue to closely monitor the developments in the area and actively explore potential opportunities.

The Group’s diversified property investment portfolio continued to generate stable and substantial recurring income. Over the years, the Group has focused on advancing the strategic development of West Kowloon, one of the few locations in the world that combines “air-plus-rail” connectivity with top-tier commercial developments in the city centre. International Gateway Centre (IGC), a world-class project atop the High Speed Rail West Kowloon terminus, was completed during the year and has emerged as an ideal choice for major corporations. The office tower located closest to the harbourfront was handed over to anchor tenant UBS in early 2026. Renowned insurance and financial companies and multinational corporations, including AXA, are gradually taking possession of their premises. IGC’s podium mall, officially named Stage IGC, is scheduled to open in phases from the end of 2026. Another Group project in the vicinity, Artist Square Towers (AST) in the West Kowloon Cultural District, is scheduled for completion in 2027. The project has secured global financial services firm J.P. Morgan as an anchor tenant. Against a backdrop of limited new supply of Super Grade-A office space in Hong Kong over the next few years, both IGC and AST are expected to provide high-quality, brand-new office space to meet tenants’ upgrading and expansion needs.

Upon their completion, IGC and AST will join International Commerce Centre (ICC), two luxury hotels and retail premises to form a commercial cluster of around 8 million square feet in West Kowloon, generating significant synergies and further advancing the district’s status as a major hub of financial services, asset and wealth management, art and culture, retail, leisure and entertainment.

During the year, the Group’s retail portfolio achieved growth in tenant sales and maintained high occupancy through swift adaptation to market trends and ongoing refinement of its tenant mix. In addition to Stage IGC, the rebranded The ANGLE in Kowloon East was another project launched by the Group. Tenants are progressively opening their stores.

SHKP’s integrated loyalty programme The Point, which has over 3.4 million members, registered a 27% year-on-year growth in overall member spending. VIP programme The Point Gold recorded an even stronger growth in spending and an almost 40% jump in membership. The Group will further enhance exclusive privileges for The Point Gold members, including introducing VIP lounges at YOHO Mall in Yuen Long and Stage IGC in West Kowloon. 

As regards Mainland property business, the Group achieved attributable contracted sales of about RMB2.2 billion. The Group’s major shopping malls recorded stable growth in tenant sales. ITC Mall in Shanghai, which is scheduled to open in phases from the second half of 2026, is expected to complement the ITC office towers and hotel Andaz Shanghai ITC. Leasing activities at ITC Tower B, the tallest building in Puxi, are ongoing while tenants are gradually taking possession of their premises. 

During the year, in the Guangdong-Hong Kong-Macao Greater Bay Area, the Group increased its stakes in the igc mall in Guangzhou and Conrad Guangzhou hotel from one-third to full ownership. The two properties form part of the Tianhui Plaza in Guangzhou’s Zhujiang New Town CBD. Leveraging their prime locations, mature operations and stable income streams, the Group will capitalize on the benefits of unified ownership to further enhance their business performance and overall asset value. 

Looking ahead, the Group has full confidence in the long-term prospects of the nation and Hong Kong. Under the National 15th Five-Year Plan, Hong Kong strives to strengthen its role as an international centre for finance, trade, maritime, aviation, and innovation and technology. Hong Kong’s first five-year plan, which serves as a strategic blueprint for the city’s economic development, is set to consolidate its position as an international asset and wealth management centre while reinforcing its role as a “super connector” and “super value-adder”. To seize these opportunities, the Group will continue to develop landmark projects, and provide modern and customer-centric properties and services that contribute to economic growth and social progress.  

(For further information of the Group’s businesses during the period, please refer to the SHKP 2025/26 annual results).

Sun Hung Kai Properties (SHKP) and The Hong Kong Polytechnic University (PolyU) recently held the fourth scholarship presentation ceremony for the SHKP-Kwoks’ Foundation x PolyU Building Homes with Heart Scholarship Programme, awarding scholarships to 11 PolyU students studying real estate, surveying, and civil engineering.

Established in 2022, the programme has awarded over 42 students with funds totalling approximately HK$1.5 million. Beyond scholarship support, SHKP has donated HK$12.5 million to PolyU to advance research in smart building technologies. At the ceremony, PolyU showcased its achievement – a digitalized, high-efficiency and energy-saving solution for IGC. The project has secured matching funding under the University Grants Committee’s (UGC) Research Matching Grant Scheme.

At the ceremony, SHKP Executive Director Adam Kwok and SHKP-Kwoks’ Foundation Executive Director Amy Kwok presented the scholarships to the students. Other officiating guests were Under Secretary for Education Dr Sze Chun-fai, PolyU Vice President (Student and Global Affairs) Professor Ben Young, SHKP Executive Director Robert Chan, SHKP Construction Department Senior Project Director Dominic Kwok, PolyU Director of Research Institute for Smart Energy Professor Wang Shengwei, PolyU Associate Dean of Faculty of Construction and Environment Professor Linda Xiao, and PolyU Dean of Students Professor Horace Mui.

Strengthening industry-academia synergies
Mr Adam Kwok said: “SHKP and PolyU share a long-standing partnership in nurturing talent and driving innovation across the construction industry. Over the past four years, the Building Homes with Heart Scholarship programme has empowered dozens of outstanding students from underprivileged families. Many have since entered the industry, including several who have joined SHKP.

“Our partnership extends beyond this. SHKP fully supports industry-academic collaboration, having donated HK$12.5 million to PolyU’s construction research and provided real-world testing grounds across our properties to help turn research into real impact. We are already collaborating on developing green building materials, using carbon-activation tech to make lower-carbon concrete. We have also teamed up on IGC, our flagship commercial development above the West Kowloon High Speed Rail Terminus, to develop a smart, energy-saving system. This initiative recently won funding from the UGC’s Research Matching Grant Scheme, a good example of how government, business, and academia can work together to drive Hong Kong toward carbon neutrality and a smarter city.”

Professor Young expressed deep gratitude to SHKP-Kwoks’ Foundation for their vision and generous support. He noted that over the past four years, the SHKP-Kwoks x PolyU Building Homes with Heart Scholarship Programme has supported numerous outstanding PolyU students, contributing new talent into the industry. SHKP’s active promotion of industry-academia-research collaboration has enabled PolyU’s cutting-edge research outcomes to be implemented in the IGC project, demonstrating a significant social impact. PolyU looks forward to deepening its partnership with SHKP in the future to nurture more professionals with a strong sense of national commitment and a global perspective, jointly contributing to a greener future for Hong Kong and the nation.

Before the ceremony, 35 scholarship recipients and trainees of Sanfield, SHKP’s construction arm, visited IGC, gaining firsthand insight into the flagship commercial development’s green design and sustainability features.  

At the ceremony, Professor Wang presented the energy-saving and low carbon solution developed for IGC which has helped the landmark commercial project became the first in the Greater Bay Area to achieve a BREEAM International but New Construction ‘Excellent’ rating. Dr Sze and Mr Chan then participated in an exchange session with the scholarship recipients, offering valuable insights on academic development and career planning.

Dr Sze said: “Achieving carbon neutrality is a defining goal both globally and nationally. SHKP and PolyU’s joint research at IGC exemplifies the real value of translating academic innovation into practical solutions. We hope the students will embrace lifelong learning and equip themselves with the knowledge and skills needed to drive green development for Hong Kong and the nation.”

Marco Ko, a scholarship recipient and Assistant Engineer at Sanfield, added: “This scholarship provided much-needed financial support, allowing me to pursue further studies while building my career. Sanfield also gave me valuable internship opportunities before graduation. I am deeply grateful to the SHKP Kwoks’ Foundation and Sanfield for their support. I will continue striving to become a professional engineer and contribute to the industry’s future development.”

Designed by the internationally renowned ZHA Architects, IGC comprises two twin towers totalling four blocks, offering approximately 2.5 million square feet of premium office space and 620,000 square feet of retail space, which will transform West Kowloon into a vibrant new commercial hub for Hong Kong. IGC has already secured 10 leading international, Mainland, and local ESG certifications or pre-certifications, reflecting its commitment to the highest sustainability and workplace standards.

The scholarship programme aims to support exceptional PolyU students who face financial challenges and are studying construction, real estate or engineering-related disciplines. 
 

Sun Hung Kai Properties Limited (SHKP) and AXA Hong Kong and Macau (AXA) today announced a major leasing agreement for the International Gateway Centre (IGC), with AXA committing approximately 97,500 square feet, occupying two and a half floors for its new distribution office and premier one-stop wealth management hub.

The agreement underscores West Kowloon’s emergence as a forward-looking business district with IGC playing a key role in shaping its evolving commercial landscape. Scheduled for occupancy in early 2028, AXA’s expansion at IGC reflects its commitment to long-term market investment, enhancing its distribution capabilities, and strengthening AXA’s role as a trusted wealth management partner in the region. 

KW Lo, Executive Director of Sun Hung Kai Real Estate Agency said: “SHKP warmly welcomes AXA to the IGC. The presence of AXA, a leading global insurance company, further strengthens IGC’s position as a premier destination for multinational corporations. As a landmark commercial development shaping the future of Hong Kong’s business landscape, IGC is set to enhance Hong Kong’s competitiveness as a leading international finance hub and reinforce its standing as the world’s largest cross-boundary wealth management centre, supporting the city’s next phase of economic growth.”

Jonathan Li, Chief Distribution Officer of AXA Greater China, said, “Hong Kong remains a vital strategic hub for AXA in Asia, and securing this 10-year lease at IGC reflects our strong confidence in the city’s future prospects. Establishing such a premier presence here is pivotal to expanding our distribution capabilities and accelerating our sustained growth in the region. We look forward to building a fruitful partnership with SHKP as we drive long-term success.”

The new space will serve as a dedicated flagship for AXA’s wealth and legacy planning offerings, serving clients across Hong Kong, Macau and the broader region. Situated above Hong Kong’s only High Speed Rail terminus, IGC offers unparalleled connectivity reaching major Chinese Mainland cities, with most major Greater Bay Area cities accessible within an hour, enabling AXA to deepen its service reach and engagement across the region.

This expanded presence empowers AXA’s financial consultants to deliver comprehensive financial, health and legacy planning solutions alongside exceptional experiences for individual, high-net-worth, and corporate clients.

IGC is SHKP’s new flagship integrated commercial development. The development comprises two twin towers of four Grade-A office blocks, offering approximately 2.5 million square feet of premium space. Complementing the office towers is Stage IGC, a five-level retail podium with over 600,000 square feet of gross floor area and scheduled to open in phases.

Forming part of an eight-million-square-foot commercial hub in West Kowloon, IGC offers unrivalled “air-plus-rail” connectivity, providing seamless access for corporations and their clients to Chinese Mainland and global markets. IGC also sets new benchmarks in sustainability, having achieved ten major green building certifications or pre certifications under LEED, BEAM Plus, WELL, and others. It is also the first office development in the Greater Bay Area to receive the BREEAM International New Construction “Excellent” rating.