Hang Lung Properties Ltd
00101: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$63.00 | Jpq | Wkpdrlf |
Higher Luxury Spend Continues to Drive Rental Growth for Hang Lung Properties
There is no change in our long-term thesis after Hang Lung Properties’ solid fiscal 2021 result. We expect the group’s luxury malls in Mainland China to benefit from rising domestic consumption and this was reflected in strong tenant sales in fiscal 2021, which translated into property leasing revenue growth of 45% for its China portfolio. This was also supported by the completion of Heartland 66 in Wuhan.