Hongkong Land, Swire Properties Seen Benefiting from Office Market Upturn
Dow Jones
Sep 22
0609 GMT - Hongkong Land and Swire Properties are likely to benefit from the office market upturn in Hong Kong's Central district, say DBS Group Research analysts in a note. The office sector started to recover this year after a prolonged downturn, boosted by strong leasing demand, a robust initial-public offering pipeline and buoyant capital-markets activity, they say. DBS expects rents in the Central area to grow by 10%-12% in 2026 and 2027. New office supply could taper off in the next few years, which should further support the market's recovery. This coupled with growing China rental contributions should underpin recurring earnings and dividend growth for both companies, DBS adds. It maintains a buy rating for Hongkong Land's Singapore stock and Hong Kong-listed Swire Properties.
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