HKG:0083

Sino Land Posts Higher Fiscal Full-Year Profit

Sino Land's (HKG:0083) attributable profit to shareholders in the fiscal year ended June 30 rose to HK$4.59 billion from HK$4.02 billion in the year-ago period, a Tuesday filing with the Hong Kong bourse said.The property development company's basic earnings per share climbed to HK$0.49 from HK$0.45 in the previous corresponding year.Revenue increased to HK$9.27 billion in the fiscal year from HK$8.18 billion a year prior.The firm declared a final dividend of HK$0.43 per share for the period, payable to shareholders of record on Nov. 3.

JD.com, China Resources Land Consortium Bags HK$1.03 Billion Northern Metropolis Contract in Hong Kong

A joint venture comprising six companies won the tender for the Hung Shui Kiu/Hia Tsuen development project in Hong Kong's Northern Metropolis with a bid of HK$1.03 billion, the Hong Kong Development Bureau said Monday.The six companies are subsidiaries of China Overseas Land & Investment (HKG:0688), China Merchants Land (HKG:0978), China Resources Land (HKG:1109), China Tourism Group, JD.com (HKG:9618), and Sino Land (HKG:0083).The consortium, operating as Hung Shui Kiu New Development, plans to invest approximately HK$16.8 billion in the nearly 11-hectare project, which is expected to create over 6,000 jobs.The project involves levelling three residential sites for roughly 3,000 units and building a JD.com-led smart logistics center, which is expected to open within 55 months, faster than the 99-month minimum requirement.The winning bidder will also level additional government sites and return them to the government by 2028, with recreational facilities to follow by 2033.

UOB Kay Hian Starts Sino Land at Buy with HK$13.50 Price Target

MTR Awards Tender For Kam Sheung Road Phase 2 Project

MTR (HKG:0066) awarded the tender for the Kam Sheung Road Station Phase 2 project to a consortium made up of Sino Land (HKG:0083), China Overseas Land & Investment (HKG:0688), China Merchants Land (HKG:0978), and Great Eagle (HKG:0041), according to a statement Tuesday.The consortium will be entitled to the future ownership of the commercial portion of the development, MTR said.MTR received eight bids for the project after attracting 31 expressions of interest.The site is reportedly valued at HK$3.62 billion to HK$7.24 billion, or HK$3,000 to HK$6,000 per square foot, and is expected to provide about 1,290 flats across 1.21 million square feet.