Office

Turnover for the office sector spiked 24% to HK$365 million leveraged by strong rental reversion and committed office occupancy stood high at 98% at the end of the year.

New lettings during the year amounted to 153,666 square feet and most of them were in-house expansions and the lease renewal retention rate was maintained at 68% during the year, with renewals including DHC, Cosmopolitan Cosmetics, and McDonald’s.

China Properties

Beijing Capital Times Square, Shanghai Times Square and Chongqing Times Square spurred revenues by 21% and operating profit by 52%.

Development profit from sales of 2 launched projects jumped to HK$718 million this year from HK$2 million a year earlier.

Modern Terminals

Earnings in were robust and were leveraged by growing exports from South China as throughput in the region grew by 14% during the year.

Shenzhen terminals rose by 19% and market share grew by 52%, while Kwai Tsing terminals increased 8% in throughput growth.