SHKP Acquired Kai Tak Site at Record Break Price but Overall Risk Manageable
Sun Hung Kai Properties, or SHKP, announced it won a government land tender for a site in Kai Tak area for HKD 25 billion, a record breaking amount for the city. The 17,000 square meter, or sqm, site has a maximum permitted gross floor area, or GFA, of 131,500 sqm. Despite the record break price amid a very elevated residential property market, we believe the company’s risk is well managed due to: first, robust property sales the company has achieved in 2017 reducing its overall exposure to the ...Sun Hung Kai Properties is an investment holding company, engaged in the development of and investment in properties for sale and rent, hotel operation, telecommunications, transportation, infrastructure and logistics. Co.'s segments include Property development for sale, Property investment for rental, Hotel operation, Telecommunications, Transport infrastructure and logistics, and other businesses. Co.s' property development for sale focuses on land acquisition, project planning, material sourcing, construction and project management. Co.'s property investment for rent focuses on built, leased and managed a range of commercial projects in both core and decentralized areas.
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