Hang Lung Properties Ltd

00101: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HKD 35.10	Xxpt	Ffhdwdlcb

Higher Luxury Spend Continues to Drive Rental Growth for Hang Lung Properties

Michael Wu

Jan 28, 2022

There is no change in our long-term thesis after Hang Lung Properties’ solid fiscal 2021 result. We expect the group’s luxury malls in Mainland China to benefit from rising domestic consumption and this was reflected in strong tenant sales in fiscal 2021, which translated into property leasing revenue growth of 45% for its China portfolio. This was also supported by the completion of Heartland 66 in Wuhan.

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