Hong Kong's Kowloon Development H1 net income rises on revaluation gains

Kowloon Development

21/08/2026 13:04

Overview
Hong Kong property developer's interim net income rose 4.8% yr/yr to HK$131 mln
Revenue for six months ended June 2026 decreased yr/yr
Company maintained interim dividend at HK$0.10 per share

Outlook
Company expects remaining Upper Manor sales proceeds to be recognised in second half 2026
Company expects Mainland China real estate market to gradually recover with policy support

Result Drivers
UPPER MANOR SALES - Delivery of 60 sold residential units at Upper Manor in Hong Kong contributed HK$334 mln in attributable sale proceeds
MAINLAND CHINA SALES - Presales and sales from development projects in Mainland China contributed RMB437 mln, with RMB377 mln attributable to the Group
PROPERTY REVALUATION - Small revaluation gains of HK$6 mln on investment properties, compared to losses of HK$187 mln in prior period

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
HK$1.19 bln
 
H1 Net Income Attributable
 
HK$131 mln
 

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)