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Sino Land Co

Sino Group said there were lingering challenges such as high interest rates, sustained inflation and geopolitical tensions. Photo: Bloomberg

Sino Group reports 24.7% profit dip on slower sales, higher revaluation losses

Sino Land’s profit declined by about a quarter in its financial year ending in June, as sales of homes and car parks slowed while revaluation losses surged.

  • Net profit amounted to HK$4.4 billion, down 24.7 per cent from HK$5.8 billion in its 2022-2023 financial year.

Hong Kong land sale ‘far exceeds’ expectations as 11 firms submit bids

SHKP in pole position to benefit from Hong Kong’s property easing measures

Sino Land, Hysan expect last year’s ‘uncertainties’ to loom over sector in 2024

Sino Land and Hysan Development, two major Hong Kong property developers, expect ‘uncertainties’ to continue to affect the city’s real estate market, they said in their latest financial reports on Thursday.

A man sunbaths in Hong Kong’s To Kwa Wan Recreation Ground. As the world continues to recover from the coronavirus pandemic, the outlook for Hong Kong’s property sector remains cloudy. Photo: Sam Tsang

Sole bidder Sino Land gets Lantau Island plot for 20% below market value

Sino Land, the only bidder in the tender for a plot of land on Lantau Island, has paid nearly 20 per cent less than market expectations as Hong Kong’s housing market continues to languish.

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Hong Kong’s Ma Tau Wai project awarded to Sino Land after US$272 million bid

A Sino Land-led consortium won the right to develop a plot in Hong Kong’s Shing Tak Street from the Urban Renewal Authority (URA), after its bid displayed confidence in a highly sought location.

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Hong Kong experts urge price review for government land after site fails to sell

Academic predicts government deficit will ‘become worse’ if review of reserve prices for development sites is not carried out.

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Hong Kong faces a massive shortfall in predicted income from sales of government land to developers. Photo: Elson Li

Developers entice Hong Kong homebuyers with discounts in weekend sale bonanza

Most of the new units on Saturday came from Villa Garda III in Tseung Kwan O, which sold 73 of the 138 put up for sale.

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Israeli firm’s AI-powered robots able to ascend and clean Hong Kong skyscrapers

Tel Aviv-based Verobotics expects to have more than 50 of its lightweight, artificial intelligence-powered cleaning robots deployed in the city by the end of next year.

Green buildings hold the upper hand in Hong Kong’s property glut

Green certified buildings are giving developers and landlords a competitive edge as occupiers demand sustainability features, essential to meet a host of business and environmental goals.

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Illustration: Brian Wang

‘Cautiously optimistic’ Sino Land set to launch some 2,100 flats this year

Sino Land, which posted a 36 per cent decline in half-year profit, plans to launch some 2,100 flats, including about 640 in Lohas Park this year.

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Sino Land plans to launch six residential projects in Hong Kong this year, including in Lohas Park, Tseung Kwan O. Photo: Sun Yeung

Hong Kong withdraws Stanley plot after bids fail to meet reserve price

The biggest residential plot of land in Hong Kong’s southern Stanley district in two decades was withdrawn from sale by the government on Tuesday, after all four tenders failed to meet its reserve price.

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Hong Kong’s archiREEF aims to commercialise 3D-printed tiles, restore corals

The home-grown marine technology start-up wants to commercialise and scale up its 3D-printed terracotta reef tiles to restore corals and save degraded marine ecosystems around the world.

Novo Land flats sell out in Tuen Mun as buyers get in before rate hike

Homebuyers in the city flocked to buy flats on offer this weekend at Sun Hung Kai’s Novo Land project in Tuen Mun, reflecting a pre-emptive move against an expected rise in prime rate.

Potential buyers line up at the sales office of Novo Land, the residential project of Sung Hung Kai Properties in Tuen Mun, at the International Commerce Centre in West Kowloon on August 27, 2022. Photo: Edmond So

Covid-19 curbs: Hong Kong developers’ earnings tumble by up to 60 per cent

Covid-19 restrictions dragged on the profits of Hong Kong developers in the January to June period, with declines ranging from 40.5 per cent to 58 per cent, filings with the Hong Kong stock exchange on Thursday show.

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People in face masks walk on the Mid-Levels escalator in Central. Uncertainties surrounding Covid-19, ongoing geopolitical risks, restrictions on travel, rising inflationary pressure and interest rate hikes have combined to interrupt the global economy, Sino Group owner Robert Ng Chee Siong says. Photo: Xiaomei Chen

Hong Kong’s slowing property market hits Tseung Kwan O’s Villa Garda

Just 128 out of 168 flats at Villa Garda’s phase two development were sold on Sunday as recent interest rate hikes and stock market volatility take a toll.

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Home buyers snap up Sino Land’s Lohas Park flats on discount

The current batch of flats were priced between HK$17,106 and HK$21,346 per square foot after an average discount of 16 per cent, cheaper than other prices in the neighbourhood.

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Gone in three hours: Sino Land sells 238 Hong Kong flats in buying frenzy

The frenzy reflected the strong demand for housing in one of the world’s least affordable urban centres, and how quickly buyers react to any change in the macroeconomic environment.

Buyers queued up for Villa Garda I in Lohas Park at Sino Land’s sales office at Empire Centre in Tsim Sha Tsui on 30 June 2022. Photo: Jonathan Wong

Hong Kong malls bank on pet lovers, families, NFT fans for footfall growth

Sun Hung Kai Properties’ New Town Plaza in Sha Tin and Sino Land’s Tmtplaza in Tuen Mun aim to give consumers who are now accustomed to e-commerce new reasons to visit.

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Tuen Mun site bids rejected as premiums come below reserve price

The Hong Kong government rejected all five bids received for a 1.3 million square feet residential site in Tuen Mun, as all tenders came in below the reserve price.

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Developers lower prices to make up for lost time as Hong Kong eases curbs

Sino Land and Wheelock both priced hundreds of new flats roughly 12 per cent below comparable projects launched last year, as restrictions that made house sales all-but impossible are loosened.

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The construction site of Grand Mayfair I, where units have been priced 12 per cent below a comparable project launched in December. Photo: Sam Tsang

Hong Kong malls unveil promotions with eye on US$638 consumption vouchers

Mall owners come up with promotions to compete for more than 6.2 million shoppers who will receive e-vouchers worth US$638 each from Thursday.

Hong Kong’s mall owners are tempting shoppers with discounts and offers with an eye on the HK$5,000 e-vouchers that will issued to 6.2 million eligible residents from Thursday. Photo: Sam Tsang

Hong Kong analysts slash forecasts in home prices as Covid-19 bites

Property developers, who usually conduct their sales campaigns on weekends, have deferred the launch of new projects until the second quarter, when the current Covid-19 outbreak is expected to recede.

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Coronavirus: Hong Kong turns to mainland China, private sector for supplies

Commerce chief Edward Yau says government has sent a list of needed supplies to Chinese authorities to fight escalating outbreak.

Hong Kong tycoons are rushing to join Covid-19 fight. Where were they earlier?

Xi Jinping’s call for action cleared one key bottleneck – the Hong Kong government itself and its red tape, claimed an insider in the pro-Beijing camp.

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Patients with Covid-19 symptoms wait outside Caritas Medical Centre to be admitted. Photo: Felix Wong

Sino Hotels expects conditions to remain challenging after losses rise

Sino Hotels, controlled by billionaire Robert Ng Chee Siong, said on Thursday that the outlook does not look too bright after its first-half losses widened.

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City Garden Hotel, owned by Sino Hotels and located in Hong Kong island’s eastern district of Fortress Hill, had 100 per cent occupancy in the six months to December. Photo: Handout

Hong Kong developers plunged into turmoil amid concerns Beijing targeting property firms

Hong Kong’s property developers have been left reeling after a sell-off purportedly attributed to the Chinese government’s injunctions for them to serve the national interest drained 6.7 per cent from a gauge that tracks the city’s real estate stocks.

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Hong Kong buyers help developers chalk up fourth sell-out weekend

More property buyers are rushing into the market to get ahead of rising prices and potentially higher mortgage rates as the local monetary authority is expected to raise interest rates in lockstep with the US Federal Reserve’s tapering policy.

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Sino Land Co
Sino Group is one of the largest property companies in Hong Kong, and also has significant operations in Singapore where a sister company is a major property developer. The group has private holding companies owned by the Ng family, and three publicly listed companies: Tsim Sha Tsui Properties, Sino Land Co, Sino Hotels (Holdings). Yeo Hiap Seng, another sister company, specialises in food and beverages in Asia. 
Chairman / President
Robert Ng Chee Siong
CEO / Managing Director
Win Kong Daryl Ng
CFO / Finance Director
Wing Yung Thomas Tang
Industry
Property and Hotel
Website
sino.com
Headquarters address
Hong Kong, China
Stock Code
SEHK:83, OTC Pink:SNLAY
Year founded
1981
last updated:
2 October, 2024
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