Hongkong Land Holdings (H78) Q1 2026 TU earnings summary

Executive summary

• Q1 underlying profit rose 5% YoY as lower net financing charges offset reduced Singapore contributions following the MBFC Tower 3 disposal.

• 2026 full-year underlying profit is expected to be mildly higher YoY, supported by positive Hong Kong leasing sentiment and proactive cost management.

Financial highlights

• Underlying profit in Q1 was 5% higher than Q1 2025.

• Capital recycling secured US$0.6bn in net proceeds during the period; cumulative recycled capital reached US$3.6bn, or 90% of the US$4bn end-2027 target.

Outlook and guidance

• FY2026 underlying profit is expected to be mildly higher than FY2025, with support from Hong Kong leasing and cost management.

• SCPREF aims to grow AUM from S$8.2bn at inception to S$15bn within five years.