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Hong Kong’s Property Market Fears Haven’t Impacted This Developer
The firm is more of a landlord than developer compared to its peers
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The risk of a meltdown in Hong Kong’s bubbly property market has weighed on the shares of all local developers traded on the city’s stock exchange this year except one: Swire Properties Ltd. The firm has pulled away from the pack for a variety of reasons, from an asset sale to rising rental income, according to Patrick Wong, an analyst at Bloomberg Intelligence. There’s speculation of a dividend increase, but another factor may be that as more of a landlord and less of a developer than peers, Swire isn’t as exposed to the risks of a bust.