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).