Long-term ammunition, active production, increase reserves

Cheung Kong (01113) sold property and sold buildings last year, and has a large amount of funds. The ammunition is sufficient and this year has also turned positive. Apart from investing in land, it also implemented the redevelopment of Hutchison Building and was once again active in the local real estate market.

Last year, the residential commercial buildings were close to 100 billion.

The property market is hot, and Cheung Kong has not been able to shoot in the residential market in the past few years, focusing on property sales. In the residential market, last year, the Group launched the Love and Happiness of the West Sea Love in Tsuen Wan, which was in the midst of a boom in the property market. A total of more than 2,000 units were sold. Together with other projects, 3,100 people were listed and 51.5 billion yuan were cashed. Breaking the record is also the developer with the highest cash amount last year.

In addition to the residential market, Cheung Kong also holds valuable commercial buildings in the core area. It holds 75% of the ownership of the Central Center and covers a total of 1.21 million square feet of floor space. Since 2016, it has been sold by the consortium until the end of last year. Cheung said that it will take out the 47-storey floor of the building for 40.2 billion yuan. Purchased by a consortium of China and Hong Kong. Even at the beginning of this year, the Chinese shareholder of the major shareholder of the buyer withdrew and eventually changed into other investors, and the transaction was officially completed in May. If sold together with residential units, Cheung Kong has nearly $100 billion in cash last year.

With a large amount of funds and sufficient ammunition, the local property market has become more active in recent months. Last month, it announced the redevelopment of its central Hutchison Building. The reconstructed Hutchison Building has a floor area of ​​over 490,000 square feet, a height of 41 floors and 185 parking spaces, which are expected to be completed in 2023.

The company has won the third phase of the large-scale residential project in Wong Chuk Hang Station, which has increased the Group’s residential reserve by 1 million square feet.