Sun Hung Kai Properties' Rental Income Likely to Keep Growing on New Assets

Dow Jones10-07

0054 GMT - Sun Hung Kai Properties' rental income is likely to continue growing as newly completed investment properties ramp up, says Fitch Ratings in a note. Recovering demand for prime office space and the stable performance of the Hong Kong company's retail portfolio is likely to buoy earnings from SHK Properties' existing portfolio, Fitch says. The ratings company expects SHK Properties' rental revenue to grow at a low-to-mid single-digit percentage in FY 2027-FY 2029 as investment assets in Hong Kong and Shanghai come online. The Hong Kong property company's strong capital management and stable, substantial recurring Ebitda should also prop up its financial profile. Shares last closed 0.6% lower at 104.40 Hong Kong dollars.

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