Bulletin: Sun Hung Kai's Hong Kong Contracted Sales Set To Rebound In Fiscal 2022

HONG KONG (S&P Global Ratings) Sept. 10, 2021--Sun Hung Kai Properties Ltd.'s (SHKP; A+/Stable/--) contracted sales in Hong Kong will rebound to at least its medium-term annual target of HK$40 billion in fiscal 2022, S&P Global Ratings said today. This is underpinned by Hong Kong's buoyant residential property demand where total transaction volume was up by 43% year-on-year during January-July, and the company's ample saleable resources over the next 12 months. We forecast SHKP's contracted sales in China will be about HK$5 billion in fiscal 2022, broadly similar to last year's level of HK$5.7 billion. SHKP's contracted sales in Hong Kong of HK$23.2 billion for fiscal year ending June 30, 2021, was below our original forecast of HK$35 billion. This

...September 10, 2021 HONG KONG (S&P Global Ratings) Sept. 10, 2021--Sun Hung Kai Properties Ltd.'s (SHKP; A+/Stable/--) contracted sales in Hong Kong will rebound to at least its medium-term annual target of HK$40 billion in fiscal 2022, S&P Global Ratings said today. This is underpinned by Hong Kong's buoyant residential property demand where total transaction volume was up by 43% year-on-year during January-July, and the company's ample saleable resources over the next 12 months. We forecast SHKP's contracted sales in China will be about HK$5 billion in fiscal 2022, broadly similar to last year's level of HK$5.7 billion. SHKP's contracted sales in Hong Kong of HK$23.2 billion for fiscal year ending June 30, 2021, was below our original forecast of HK$35 billion. This was mainly due to a slower obtaining of pre-sale consents for major projects including Wetland Seasons Bay Phase 1. Nonetheless, the company has sufficient financial buffer. On the other hand, we believe SHKP's rental revenue...

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