Sino Land Facing High Market Risk Amid an Elevated Hong Kong Residential Market
We initiate coverage of Sino Land with no-moat and stable moat trend ratings, along with a fair value estimate of HKD 13 per share. Sino Land is a property developer in Hong Kong. The city’s property market is highly concentrated in the hands of several large developers with competitive advantage in land sourcing, and a large balance sheet to fund construction. Sino Land is regarded as a large player in the city’s residential market. It typically comes in third or fourth in the annual sales tabl...Sino Land is an investment holding company. Co.'s segments include: property sales, property rental, property management and other services, hotel operations, investments in securities, and financing.
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