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SHKP joins hands with the government and community organizations to support the local economy 


The Sun Hung Kai Properties (SHKP) Charitable Fund is pleased to announce its partnership with the Sham Shui Po District Office (SSPDO) and the Sham Shui Po District Council to present Marché le Floréal 2.0. This vibrant flower market is designed to boost the local economy and is aligned with the government’s “Day x Night Vibes @ 18 Districts” campaign.

Marché le Floréal 2.0, a nine-day event, from 30th March to 7th April, will celebrate the arrival of spring with an array of blooming flowers and carnival activities. The market aims to showcase popular flower-viewing locations and will offer a variety of attractions, including bazaars, workshops, performances and game booths. Visitors can enjoy the festivities in the ground floor atrium of V Walk and the public space opposite Sham Mong Road, as well as at Nam Cheong Park and Un Chau Estate.

SHKP Executive Director and SHKP Charitable Fund Governor Christopher Kwok said: “Hong Kong is blessed with seasonal blooms all year round. Every March and April, Kowloon West offers a number of flower-viewing spots that are popular among both locals and tourists. Particularly noteworthy is the floral corridor adorned by bougainvillea spectabilis in Un Chau Estate. Marché le Floréal 2.0 is a district event that involves the collective efforts of the government, business sector, associations and stakeholders from the green community to promote local culture and help revitalize the local economy. SHKP supports the government’s continued efforts to have more events organized in outdoor public spaces. This initiative not only brings vibrancy to the community but also contributes to economic growth.”

Paul Wong, District Officer (Sham Shui Po) of the SSPDO, said: “The first-ever ‘Fête des Fleurs’ was successfully launched in 2023 by the SSPDO. The idea is to invite the public to enjoy and appreciate the floral scenes in different parts of Sham Shui Po during the flowering season and to meet the demand from tourists for immersive experiences. Encouraged by the warm reception, the SSPDO will hold the Marché le Floréal 2.0 in Nam Cheong Park and in the vicinity of Sham Mong Road this year. As part of the ‘Day x Night Vibes @ 18 Districts’ campaign, we hope that the public will have a great time and lots of fun at our event with their families during the Easter holidays. I would like to thank the local stakeholders for their continuous support to SSPDO and their joint efforts to develop the ‘Fête des Fleurs’ as a district brand.”

Tsoi Chiu-yuk, Executive Vice President of Federation of HK Guangxi Community Organisations Limited, said: “Sham Shui Po is facing various problems, such as an aging population, subdivided units and poverty, resulting in increasing pressure on people’s livelihood. Marché le Floréal 2.0, held in Nam Cheong Park, features a unique floral sea, specially designed photo spots, game booths, performances that showcase the characteristics of Guangxi's ethnic minorities, and group performances by local schools. This joyful event aims to bring relief to residents, while fostering connections and collaboration between different groups and organizations, thus promoting community integration.”

Ken So, Chief Executive of the Conservancy Association, said their booth at the event, Jockey Club – The Conservancy Association Urban Forestry Green Hub, aims to promote green living and provide a chill vibe with a unique and unprecedented five-senses experience for visitors. It will feature photo-friendly installations created from upcycled plastic bottles. Workshops will be conducted to teach people how to use recycled materials to make rose-shaped decorations. Different local snacks will also be available on-site, allowing participants to engage in recycling activities while savouring local delicacies.

In addition to a floral exhibition, Marché le Floréal 2.0 features a six-metre-high giant floral art installation and 20 market stalls offering a variety of floral products and local snacks. Other activities include V Walk’s floral kimono photo-shooting experience, game booths and workshops. On the event launch day, 30 March (Saturday), there will be a series of live performances, including magic shows, a drum performance, an ethnic costume parade and talent shows. These engaging activities are set to create an unforgettable experience for locals and tourists alike.

SHKP-Kwoks’ Foundation and Nanjing University sign letter of intent on donations


The SHKP-Kwoks’ Foundation (the Foundation) and Nanjing University recently signed a letter of intent regarding donations. Established in 2006, the Foundation’s scholarship programme for Nanjing University has completed three phases, with donations to date totalling some HK$16 million, benefitting about 3,000 students. 

The Foundation has developed close ties with top institutions on the mainland over the years to support outstanding students with limited means complete their undergraduate studies. Tan Tieniu, Secretary of the CPC Nanjing University Committee, recently led a delegation from the university to the headquarters of Sun Hung Kai Properties (SHKP) in Hong Kong and met with SHKP-Kwoks’ Foundation Executive Director Amy Kwok. During the meeting, they signed a letter of intent regarding donations and discussed further collaboration to groom promising undergraduates and postgraduates to provide talent for the development of the Yangtze River Delta Region.

As the SHKP-Kwoks’ Foundation Executive Director and an Honorary Trustee of Nanjing University, Ms Kwok said she cares deeply about the university and is encouraged by the remarkable progress of the scholarship programme. She pointed out that in response to the needs of top institutions and society, the programme will extend its funding to postgraduate students. The Foundation will continue to fully support the country’s education strategy to nurture a new generation of talents.

Mr Tan expressed his gratitude to the Foundation for its continuous support over the past 19 years. He thanked Ms Kwok’s longstanding contributions to Nanjing University and said he looked forward to deepening their collaboration. He also shared with Ms Kwok recent developments at Nanjing University and invited her to continue to be an Honorary Trustee and visit the new campus in Suzhou.

Since its establishment over 20 years ago, the SHKP-Kwoks’ Foundation has initiated more than 85 charitable projects, benefitting over 70,000 people in 29 provinces and cities across the country.

Nanjing University is one of the top educational institutions listed in the country’s “Double First-Class Initiative”. It has four main campuses, in Xianlin, Gulou, Pukou and Suzhou. 

Sun Hung Kai Properties 2023/24 Interim Results Announcement

Sun Hung Kai Properties Limited (SHKP) today announced its 2023/24 interim results.

During the period under review, the Group faced the challenges of an uncertain economic outlook and a high-interest rate environment, which had an impact on business development. In the face of the challenging macro environment, the Group placed great emphasis on cash flow management and prudent financial discipline, including maintaining a tight control on capital expenditure and being highly selective in land bank replenishment. These measures, coupled with the Group’s robust and sizeable recurring income generated from a quality property investment portfolio and non-property businesses, have helped put the company in good stead to withstand adverse economic conditions.

During the period, SHKP launched YOHO WEST Phase 1 in Tin Shui Wai, NOVO LAND Phase 2A in Tuen Mun and University Hill near The Chinese University of Hong Kong for sale. The units were very well received, reflecting buyers’ continued strong confidence in SHKP’s developments. As always, the Group will launch new projects for sale when they are ready. Over the next 10 months, major Hong Kong projects on offer will include The YOHO Hub II in Yuen Long, the third phase of NOVO LAND in Tuen Mun, the second phase of YOHO WEST, the first phases of Cullinan Sky and Cullinan Harbour in Kai Tak, and the first phase of a large-scale project in Sai Sha near Ma On Shan. The Group will also put up for sale its unsold completed residential units and some of its non-core properties, including the renovated Dynasty Court in Mid-Levels. On the mainland, a new phase of Shanghai Arch in Shanghai and new batches of the joint-venture development Hangzhou IFC will be put on the market for sale. 

The Group’s diversified property investment portfolio remained a reliable source of substantial recurring income. Many of the Group’s offices and shopping malls are part of an integrated project, complementing each other and benefitting from transport interchanges and large-scale residential developments in the vicinity. In addition, the Group’s leasing teams stay up-to-date with market trends and regularly refine the trade-and-tenant mix of the malls to keep abreast of customer needs. 

The Point, an integrated loyalty programme for SHKP malls, has recently revamped its mobile app. A new service called Instant Point Earn was introduced to further enhance shoppers’ experience, drive footfall and boost tenant sales. Furthermore, pet- and family-friendly facilities were introduced to boost traffic and expand the customer base, and the indoor and outdoor areas refurbished to suit customer preferences. For office buildings, the Group has consistently pursued asset and service enhancements, ensuring they meet stringent international and local corporate environmental requirements. Over the years, many of our office buildings have attained top ratings of green-building certifications.

The Group is growing its property investment portfolio to bolster recurring income base. The Group’s serviced-apartment project, TOWNPLACE WEST KOWLOON, soft opened in October 2023. Market response to the first batch of rooms was encouraging with many young professionals from the mainland and abroad being attracted to the hybrid short- and long-term leasing model. Including this development, the Group’s portfolio of serviced apartments now provides a total gross floor area of over 1.2 million square feet. They offer diverse types of lodging in various locations, catering to different accommodation needs of incoming talents from different parts of the world. 

YOHO Mix, an extension of the Group’s flagship YOHO Mall in Yuen Long, and the shopping mall beneath The Millennity in Kwun Tong are scheduled to open in 2024. In the medium term, the High Speed Rail West Kowloon Terminus Development and the Artist Square Towers Project will join the Group’s ICC and two luxury hotels to form a unique commercial cluster in Hong Kong. With its proximity to the West Kowloon Cultural District, exceptional transport connectivity, and business opportunities brought by an increasing number of visitors using the high-speed rail, this commercial cluster is expected to become a distinctive hub in the Greater Bay Area and will offer a wide range of commercial, retail, cultural and entertainment options.

On the mainland, Nanjing IFC is the Group’s third IFC complex. The mall within the complex had a soft opening in January this year with a positive response from the market. Serving as a unique one-stop destination for shopping, entertainment and leisure, the mall houses a selection of top-tier brands, including some that are new to Nanjing. The business of the Andaz Nanjing Hexi hotel at Nanjing IFC has been steadily growing since its opening in April 2023. Meanwhile, construction is currently underway for Hangzhou IFC, another integrated landmark project by the Group that upholds the IFC brand of excellence. The final phase of its residential portion was sold out in August 2023. In Shanghai, the flagship ITC Maison mall will open in phases starting from 2025 onwards.

Prudent financial management is an important pillar underpinning the Group’s sustainable growth. The Group has placed great emphasis on cash flow management. As at the end of 2023, the Group’s Hong Kong contracted sales yet to be recognized amounted to HK$32.8 billion. Among this, about HK$22.4 billion is expected to be recognized in the second half of this financial year. In addition, the Group will further strengthen its recurring income stream and continue its proactive leasing management to strengthen the competitiveness of its property investment portfolio. At the same time, the Group remains dedicated to delivering premium properties and professional services in an efficient and cost-effective manner. A number of measures have been implemented to control construction costs without compromising on quality. The overall construction expenditure for its Hong Kong projects has already reached its peak and is expected to come down in the next few financial years.

Looking ahead, Hong Kong will continue to benefit from robust institutional frameworks, a sound common law system, a simple and low tax regime, free flow of capital and a well-functioning exchange-rate system under ‘One Country, Two Systems’. These enduring advantages, coupled with a pool of professionals, are difficult to replicate and have supported Hong Kong’s prominent position as a major international financial centre. The legislation of Article 23 of the Basic Law is now underway. This, together with the National Security Law, will bring safety, stability, and a favourable business environment to Hong Kong. With the support of the motherland, Hong Kong will continue to thrive as a global connector. The Group has strong confidence in the long-term prospects of both the mainland and Hong Kong.

For over half a century, SHKP has navigated through the ups and downs alongside Hong Kong, and has overcome various challenges, including the Asian financial crisis and global financial crisis. With an unwavering commitment to quality, the Group has established itself as a trusted brand while continuously pursuing innovation. Supported by seasoned management, a dedicated team of staff, prudent financial discipline, agile business strategies and strong execution ability, our Group is poised to continue delivering premium properties and services in Hong Kong and on the mainland, meeting the diverse needs of our customers.

Key Facts and Figures
Underlying Profit
HK$ 8,906 million
(2023/24 Interim Results)
Hong Kong Land Bank
58.8 million square feet
Mainland Land Bank
67.2 million square feet
Hong Kong Retail Space
12.2 million square feet
Hong Kong Office Space
11.0 million square feet
Sustainable Development
Community Investment and Charity
Our Environmental Commitment
Employee Care
Loving Home and Domestic Harmony
Community Investment and Charity
Community Investment and Charity
Our Environmental Commitment
Employee Care
Loving Home and Domestic Harmony
Community Investment and Charity
Community Investment and Charity
Our Environmental Commitment
Our Environmental Commitment
Employee Care
Employee Care
Loving Home and Domestic Harmony
Loving Home and Domestic Harmony