--- title: "New World Development's interim underlying profit rose by 17%, with a 3% increase in dividends. Guo Binglian: The property market is gradually recovering, and Hong Kong has entered a new stage of high-quality development" description: "SHK PPT (016) reported a mid-term basic profit of HKD 12.213 billion, an increase of 16.7% year-on-year; the interim dividend per share is HKD 0.98, up 3.2%. Guo Binglian stated that the Hong Kong pro" type: "news" locale: "en" url: "https://longbridge.com/en/news/277014005.md" published_at: "2026-02-26T09:21:32.000Z" --- # New World Development's interim underlying profit rose by 17%, with a 3% increase in dividends. Guo Binglian: The property market is gradually recovering, and Hong Kong has entered a new stage of high-quality development > SHK PPT (016) reported a mid-term basic profit of HKD 12.213 billion, an increase of 16.7% year-on-year; the interim dividend per share is HKD 0.98, up 3.2%. Guo Binglian stated that the Hong Kong property market is gradually recovering, benefiting from factors such as lower mortgage rates and rising residential rents, with an optimistic economic outlook. SHK PPT plans to launch multiple residential projects for sale in the next 10 months, and the rental market is improving, with prime location properties still being the tenants' first choice. Total revenue during the period increased by 34%, and property sales revenue surged by 94% New World Development (016) reported a mid-term underlying profit of HKD 12.213 billion for the end of last year, an increase of 16.7% year-on-year; the interim dividend per share is HKD 0.98, up 3.2%. New World Chairman and Managing Director Guo Binglian stated in the earnings report that due to factors such as the reduction in mortgage rates, rising residential rents, and a moderate rebound in property prices, the demand for property remains robust, and the residential market will continue to gradually recover. Guo Binglian pointed out that Hong Kong has entered a new stage of high-quality development, with optimistic development prospects and the economy expected to maintain stable growth; however, the growth momentum in various industries may differ. He expressed confidence in the long-term development prospects of both Hong Kong and the mainland. ## Six Residential Projects to be Launched This Year He stated that in the future, the company will continue to review its property portfolio from time to time to enhance returns and accelerate asset turnover. New World indicated that it will continue to launch projects once they are ready for sale. In addition to the recent sales of SIERRA SEA Phase 2A and Phase 2B, it plans to launch more residential projects in the next 10 months, including Kai Tak Tianxi•Hai Phase 2, a project adjacent to the Tsuen Wan West MTR Station, a large project Phase 1 near the Kwu Tung MTR Station, a project near the Shatin MTR First City Station, and Phase 1 of the Yuen Long Dongchengli project. ## Rental Market Conditions Improve, Prime Locations Become Tenants' First Choice Guo Binglian stated that the rental market conditions in Hong Kong have improved. Under the current trend of upgrading and relocating, high-quality properties in prime locations will still be the first choice for tenants. As New World completes several quality projects in succession, it will be able to meet the related market demand. He also mentioned that the new projects are expected to broaden the recurring income base and gradually bring in additional rental income. ## New World's Total Revenue Increases by 34%, Property Sales Revenue Soars by 94% During the period, New World's revenue was HKD 52.705 billion, an increase of 32% year-on-year, with total revenue from consolidated entities reaching HKD 60.263 billion, a growth of 33.7%, mainly driven by increased sales revenue. The consolidated revenue from property development was HKD 32.355 billion, a significant increase of 94.3%, with total contracted sales amounting to approximately HKD 18.9 billion. ## Property Prices and Rents Rise New World indicated that last year, the demand from end-users and long-term investors strengthened, leading to an increase in transaction volume in Hong Kong's primary residential market, with prices also rebounding moderately. The market atmosphere significantly improved due to the reduction in mortgage rates and a thriving stock market. Meanwhile, with the continuous influx of foreign talent and students, residential rents continued to rise, further boosting the residential sales market. ## Property Investment Rental Rate Maintained at High Level As for property investment income, it was HKD 12.285 billion, unchanged year-on-year, with total rental income in Hong Kong amounting to HKD 8.8 billion. New World stated that it will continue to adopt proactive strategies to maintain a high rental rate, aiming to generate considerable and relatively stable rental income. Measures include using digital technology to enhance asset quality to improve operational efficiency and sustainable building performance. ## Rental Pressure in Central and West Kowloon Office Spaces Eases New World noted that the leasing market for Grade A office spaces in Hong Kong has shown signs of improvement, with rental pressure in core business districts such as Central and West Kowloon easing. The influx of talent and capital, along with the suspension of commercial land sales, has helped strengthen market momentum. The rental rate of the IFC, in which New World has a stake, has risen to 98%, while the rental rate of the ICC remains at 91% ## Debt ratio decreased to 13.5%, timely replenishment of land reserves As of the end of the period, New World Development's debt ratio was 13.5%, a decrease of 1.6 percentage points compared to six months ago. The group stated that it has always adhered to prudent financial management principles, maintaining a robust financial structure, high liquidity, and an orderly debt repayment schedule. 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