JP-SHKP@EC2612A

New World Development Completes Rail Station Top Project, UBS Rents One Building

UOB Kay Hian downgrades Sino Land's rating to hold

New City Square's Spring Festival Activities Boost Merchant Sales

New World Development's Xisha Residential Short-Term Profitable Transactions

JPMorgan Raises Rating and Target Price of Sun Hung Kai Properties, Sees Positive Outlook for Hong Kong Property Market

Sino Land to Release Q4 Earnings Report on February 26

SHK PPT to Release FY2026 Semi-Annual Earnings on February 26, 2026 (BJT), Forecast Revenue HKD 41.78 B, EPS HKD 3.68

UBS Raises New World Developments Target Price to HKD 136

Sales Boom at New World Development Projects Signals Turnaround in Hong Kong Real Estate

New Horizon Kowloon City Project Sells 15 Units in Four Weeks

New World Development Accelerates Sales Preparation for Second C Phase of Sai Kung Project

New World Development's Kai Tak Oceanfront Mansion Records Another Bid Sale

Morgan Stanley Expects New World Development's EPS to Rise 13% in H1 FY2026 and Maintains Overweight Rating

New World Development to Increase Number of Units to 2,670 in Tuen Mun Development Project

New World Development's SIERRA SEA Phase 2B Launches Sales

UBS Relocates to ICC Tower at West Kowloon

New Town Developments Seeks HK$5 billion 5-Year Loan

New World Development Seeks HK$50 Billion Loan

JPMorgan Analyzes New World Development's Director Suspension

New World Development's Sierra Sea 2B Adds 131 Units With Price Increases

KEEN OCEAN

CCOE

FULUM GP HLDG

EPI (HOLDINGS)

MS CONCEPT

CT IND GROUP

MAN SHUN GP

EMINENCE ENT

REGAL PARTNERS

ZIJING INTL FIN

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HSBC's research report indicates that Hong Kong's property market policies will continue to support the real estate market, and real estate investment trusts may welcome new opportunities. HSBC prefers New World Development, Henderson Land, and Sino Land, all of which are given a "Buy" rating, with target prices remaining unchanged. Although some developers' stock prices have fallen due to the increase in stamp duty, the bank believes this pullback is healthy, with limited impact, primarily aimed at increasing fiscal revenue. Overall policies still support the residential market, improving developers' profit outlook

AASTOCKS

HENDERSON LAND

SINO LAND

SHK PPT

HSBC Research: The budget proposal has a positive stance on the property market, favoring New World Development, Henderson Land, and SINO LAND

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Hong Kong stocks ADR is expected to open 386 points higher this morning, at 27,152 points. The relative stock prices and the premium of Hong Kong stocks over ADRs are as follows: CKH HOLDINGS HKD 62.113 (-0.18%), CLP HOLDINGS HKD 75.569 (-0.69%), HK & CHINA GAS HKD 7.51 (1.46%), WHARF HOLDINGS HKD 25.19 (3.53%), HSBC HOLDINGS HKD 147.383 (-3.18%), POWER ASSETS HKD 61.41 (-0.18%), PCCW HKD 6.164 (-3.31%), HENDERSON LAND HKD 34.186 (1.15%), SHK PPT HKD 137.918 (-1.10%), NEW WORLD DEVELOPMENT HKD 10.814 (3.01%), SWIRE PACIFIC A HKD 83.196 (-0.48%), BANK OF E ASIA HKD 15.568 (-1.98%), GALAXY ENT HKD 44.278 (-2.25%), HANG LUNG PPT HKD 10.201 (-1.97%), GEELY AUTO HKD 19.107 (-12.86%), CITIC LIMITED HKD 12.305 (0.93%), CATHAY PAC AIR HKD 13.502 (0.36%)

CKH HOLDINGS

SWIRE PACIFIC B

GALAXY ENT

WHARF HOLDINGS

CLP HOLDINGS

SWIREPROPERTIES

WHARF REIC

PCCW

HANG LUNG PPT

GLORIOUS PPT H

CATHAY PAC AIR

GEELY AUTO

HK & CHINA GAS

PCPD

BANK OF E ASIA

HSBC HOLDINGS

POWER ASSETS

SWIRE PACIFIC A

HANG LUNG GROUP

HENDERSON INV

The Hong Kong stock ADR is expected to open 386 points higher this morning, reporting at 27,152 points

Chen Hongting from the Ma'anshan Tianyu Hai branch of Zhongyuan Real Estate stated that the Xisha SIERRA SEA recorded 55 second-hand transactions this month, with one unit sold at HKD 6.28 million without negotiation, having a usable area of 433 square feet and an average price per square foot of HKD 14,503. The new buyer decided to live in the property as a family member purchased a unit in the same estate. The original owner bought the unit in 2025 for about HKD 4.76 million and made a profit of HKD 1.52 million after holding it for nine months, with the unit appreciating by 32%

"Sierra Sea" recorded a total of 55 second-hand transactions this month, with a two-bedroom unit sold for HKD 6.28 million without negotiation, reflecting a 32% increase over nine months

The Guo family purchased an independent house at Shouson Peak in the Southern District for HKD 180 million, with a price per square foot of HKD 50,000. The house has a usable area of 3,600 square feet, along with a 750 square foot terrace and a 1,138 square foot garden. The developer paid the 4.25% stamp duty on behalf of the buyer, amounting to HKD 7.65 million. Compared to neighboring independent houses, the price per square foot for the Guo family's purchase is 32% lower

The Kwan family spent HKD 180 million to purchase the independent house at Shouson Peak in the Southern District, with a price per square foot of HKD 50,000

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Under New World Development, the Kai Tak "The Sky . Sea" recorded its first transaction of the Year of the Horse. Today (24th), the B unit on the 23rd floor of the 3rd building was sold by tender, with a usable area of 1,089 square feet, a four-bedroom and one-suite layout, and a transaction amount of HKD 44.868 million, with a price per square foot of HKD 41,201. Since the project was launched for sale, 16 units have been sold in six weeks, cashing out over HKD 890 million

China Southern CSI All Share Real Estate ETF

Yinhua CSI Interior Real Estate Theme ETF

GF CSI All Share Financials ETF

ChinaAMC CSI All Share Real Estate ETF

Hwabao WP CSI 800 Real Estate ETF

The unit of Qide Tianxi, a four-bedroom apartment, was sold for over HKD 44 million, with a price per square foot of approximately HKD 41,200

UOB Kay Hian Downgrades Sun Hung Kai Properties to Hold from Buy, Price Target is HK$143.80

marketscreener

UOB Kay Hian Downgrades Sun Hung Kai Properties to Hold from Buy, Price Target is HK$143.80

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The Hong Kong stock ADR is expected to open 191 points lower this morning, reporting at 26,891 points. The relative stock prices and the premium situation of Hong Kong stocks to the American Depositary Receipts are as follows: CKH HOLDINGS HKD 63.301 (premium 1.50%), CLP HOLDINGS HKD 77.954 (premium -0.71%), HK & CHINA GAS HKD 7.314 (premium 5.14%), WHARF HOLDINGS HKD 25.164 (premium 4.51%), HSBC HOLDINGS HKD 136.605 (premium -0.52%), POWER ASSETS HKD 59.628 (premium 3.98%), PCCW HKD 6.338 (premium -6.12%), HENDERSON LAND HKD 33.526 (premium 3.20%), SHK PPT HKD 139.536 (premium 0.33%), NEW WORLD DEV HKD 10.708 (premium 1.51%), Swire Properties A HKD 81.588 (premium 0.08%), BANK OF E ASIA HKD 15.552 (premium -0.91%), GALAXY ENT HKD 44.233 (premium -0.98%), HANG LUNG PPT HKD 10.191 (premium 0.28%), Geely Automobile HKD 19.088 (premium -9.94%), CITIC Limited HKD 12.723 (premium -2.46%), CATHAY PAC AIR HKD 12.957 (premium -0.90%)

NEW WORLD DEV

HKT-SS

The Hong Kong stock ADR is expected to open 191 points lower this morning, reporting at 26,891 points

Zhongyuan Real Estate stated that the latest transaction for the West Sand SIERRA SEA recorded a low-rise A unit in Phase 1B, with a usable area of 523 square feet, a three-bedroom layout, sold for HKD 7.28 million after negotiation, with an average price per usable square foot of approximately HKD 13,920. The new buyer is a first-time homebuyer, purchasing the unit for self-occupation. It is understood that the original owner purchased the unit for approximately HKD 5.7 million in May 2025, holding it for about 9 months, realizing a profit of HKD 1.58 million upon transfer, with the unit appreciating 28% during the holding period

"Sierra Sea" in West Sa, three-bedroom, sold for 7.28 million, with a paper profit of 1.58 million after holding for nine months

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JP Morgan released a research report, updating the investment ratings and target prices for several real estate stocks. The rating for SHK PPT was upgraded from Neutral to Overweight, with the target price raised from HKD 109 to HKD 162; CK ASSET maintained a Neutral rating, with the target price increased from HKD 41 to HKD 48.5; HENDERSON LAND maintained an Overweight rating, with the target price raised from HKD 33 to HKD 39; NEW WORLD DEV maintained a Neutral rating, with the target price increased from HKD 9.5 to HKD 10.7; SINO LAND maintained an Overweight rating, with the target price raised from HKD 12.5 to HKD 14.5

CK ASSET

"Major Banks" JP Morgan's Investment Ratings and Target Prices for Real Estate Stocks (Table)

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Sun Hung Kai Properties (OTCMKTS:SUHJY) is set to release its earnings on Thursday, February 26, before the market opens. Analysts predict earnings of $0.4811 per share and revenue of $6.8334 billion for the quarter. The company has a current ratio of 11.96 and a debt-to-equity ratio of 0.15. Recent analyst ratings include a "strong-buy" from Zacks and a "moderate buy" from CLSA. Sun Hung Kai Properties is a major Hong Kong real estate developer involved in various property-related activities.

Market Beat

SUN HUNG KAI CO

Sun Hung Kai Properties (SUHJY) to Release Earnings on Thursday

The recent rebound in the property market has raised doubts. Despite a good trend in property prices over the past year and a recovery in buyer confidence, the Centaline City Leading Index (CCL) recently reported 149.4 points, an increase of 1.5% in a single week, marking the largest weekly increase in three years. There are still concerns about the future trend of the property market, and historical experience suggests that this may be a signal of the market hitting bottom. Although property prices are still significantly lower than historical highs, the current level is relatively affordable

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The strong rebound in the property market is still questioned; the signal of hitting the bottom is "when everyone is optimistic, it is the most dangerous" | Li Shengyang

A one-bedroom unit at Xisha SIERRA SEA was sold for HKD 4.2 million, with the buyer being a first-time homebuyer. The unit has a usable area of 302 square feet, with a transaction price of HKD 13,907 per square foot. The original owner purchased it last year for HKD 3.26 million and made a profit of HKD 940,000 after holding it for nine months, representing an appreciation of approximately 29%

"Sierra Sea" in the West Sands sold a one-bedroom unit for HKD 4.2 million, with buyers taking over, a 29% increase in nine months

JP-SHKP@EC2612A(25201.HK)

HSBC Research: The budget proposal has a positive stance on the property market, favoring New World Development, Henderson Land, and SINO LAND

The Hong Kong stock ADR is expected to open 386 points higher this morning, reporting at 27,152 points

"Sierra Sea" recorded a total of 55 second-hand transactions this month, with a two-bedroom unit sold for HKD 6.28 million without negotiation, reflecting a 32% increase over nine months

The Kwan family spent HKD 180 million to purchase the independent house at Shouson Peak in the Southern District, with a price per square foot of HKD 50,000

The unit of Qide Tianxi, a four-bedroom apartment, was sold for over HKD 44 million, with a price per square foot of approximately HKD 41,200