Hongkong Land trims net debt as capital recycling progresses

Divestments and buybacks strengthen balance sheet ahead of year-end

Hongkong Land reduced net debt to $5.72b (US$4.4b) in Q3 2025 as divestments and share buybacks advanced its capital recycling plan, according to a company press release.

The group has met 50% of its interim recycling target of $5.24b (US$4b) for completion by end-2027. The divestment of MCL Land for $839m (US$657m) formed the largest component of this progress. Hongkong Land also completed a $262m (US$200m) share buyback and deployed $52m (US$40m) under its new $196m (US$150m) mandate issued in September.

In Hong Kong, office leasing improved and vacancy declined to 6.4%, outperforming the Central Grade A market. The Singapore office portfolio recorded positive rental reversions with committed vacancy at 2.2%.

The China build-to-sell portfolio recorded attributable contracted sales of $211m (US$161m) in the quarter. The Group said it will review carrying values at year-end and adjust pricing where necessary.

Underlying profit remained 13% lower year on year, reflecting softer Hong Kong office income and pre-opening costs for the China Prime Properties pipeline. Hongkong Land expects full-year earnings to remain below FY2024 levels, excluding provisions.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia