---
title: "DBS Bank expects the property market has bottomed out, benefiting CK ASSET's property sales, raising the target price to HKD 51.6 and reiterating a \"Buy\" recommendation"
description: "The DBS research report pointed out that CK ASSET's Kai Tak project \"Flower Language Sea\" has been approved for pre-sale and will become a key sales project this year. The Hong Kong residential market"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/276556320.md"
published_at: "2026-02-23T02:10:43.000Z"
---

# DBS Bank expects the property market has bottomed out, benefiting CK ASSET's property sales, raising the target price to HKD 51.6 and reiterating a "Buy" recommendation

> The DBS research report pointed out that CK ASSET's Kai Tak project "Flower Language Sea" has been approved for pre-sale and will become a key sales project this year. The Hong Kong residential market has bottomed out since the fourth quarter of last year, and the improvement in demand will benefit the sales of "Flower Language Sea." Other projects are also expected to receive a good response, driving the stock price upward. Despite the cost pressures faced by the UK pub business, the profitability of infrastructure and utility assets remains stable. The target price has been raised from HKD 45.2 to HKD 51.6, maintaining a "Buy" rating

According to the research report from DBS, CK ASSET (01113.HK) has received pre-sale consent for the first and second phases of its Kai Tak project "Flower Language Sea," which will become a key sales project for the group this year. Since the fourth quarter of last year, the residential market in Hong Kong has emerged from the bottom, with improved demand for various properties, which will benefit the future sales of "Flower Language Sea." The firm believes that as this project, along with two other projects in Yuen Long and Kam Tin, is launched as planned, it is expected to receive a positive response, providing upward potential for the stock price.

In other business aspects, the UK pub business is facing ongoing cost inflation pressures, coupled with macroeconomic challenges limiting consumer spending, resulting in limited pricing power. In contrast, the profitability of infrastructure and utility assets remains stable. The group agreed to sell its UK railway asset interests last year, and it is expected to record substantial sale proceeds in the fiscal year 2026.

The firm believes that the group's balance sheet is robust, raising the target price from HKD 45.2 to HKD 51.6, maintaining a "Buy" rating

### Related Stocks

- [01113.HK - CK ASSET](https://longbridge.com/en/quote/01113.HK.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| A Utility Stock with Steady Earnings and a Dividend Higher Than a 30 Year T-Bill | A Utility Stock with Steady Earnings and a Dividend Higher Than a 30 Year T-Bill | [Link](https://longbridge.com/en/news/276353070.md) |
| Milford Asset Management Discloses 5.2% Substantial Holding in Contact Energy | Milford Asset Management Ltd has disclosed a substantial holding of 5.228% in Contact Energy Limited, acquiring 51,991,2 | [Link](https://longbridge.com/en/news/276560180.md) |
| Trade wars are shrinking my bar, one bottle at a time | The bar industry is facing challenges due to tariffs on spirits from the EU and UK, impacting prices and availability. T | [Link](https://longbridge.com/en/news/276338951.md) |
| 11:01 ETConcentric Energy Advisors Welcomes Erica Menard as an Assistant Vice President | Concentric Energy Advisors, Inc. has appointed Erica Menard as Assistant Vice President to enhance its regulatory consul | [Link](https://longbridge.com/en/news/276462919.md) |
| Brewdog co-founder to plough millons into rescue bid for the struggling brewer | James Watt, co-founder of Brewdog, plans to invest £10m of his own money in a rescue bid for the struggling craft brewer | [Link](https://longbridge.com/en/news/276512447.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.