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Hong Kong landlord focused on premium retail and office towers concentrated in the Causeway Bay district.
Hong Kong landlord focused on premium retail and office towers concentrated in the Causeway Bay district.
Collects rent from luxury brands in its Lee Gardens malls and from office tenants, with part of retail rent tied to tenants' sales so tourist spending flows through. The Lee family, whose estate company assembled the Causeway Bay land, is the controlling shareholder.
In one line: A HK-concentrated mall/office landlord.
Moat: narrow (installed base, scale). Concentrated, irreplaceable prime-location property portfolio in one of HK's densest retail districts.
Headquarters: Hong Kong · Founded: 1923 · Employees: 507
Size Hysan Development (0014.HK) is a Hong Kong Real Estate company (Real Estate Development) with a market value of $2.16B, the 402nd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$16.50 on 6 Nov 2026.
Performance Over six months the shares fell 19.8%, against -5.4% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue fell 1.9% over the last twelve months (peer median +9.6%); the operating margin is 72.3% (peer median 23.5%).
Valuation It trades at 7.5× forward earnings against a peer median of 13.6× (4th cheapest of 18).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$3.57B | HK$3.62B | HK$3.58B | HK$3.47B | HK$3.71B |
| Revenue growth | — | +1% | +3% | -6% | — |
| Gross profit | HK$2.88B | HK$2.93B | HK$2.93B | HK$2.85B | HK$3.14B |
| EBITDA | HK$2.62B | HK$2.66B | HK$2.66B | HK$2.58B | HK$2.84B |
| Net income | HK$313M | HK$315M | HK$35.0M | -HK$872M | -HK$1.16B |
| Free cash flow | HK$1.25B | HK$1.11B | HK$1.31B | HK$1.18B | HK$1.50B |
| Capital expenditure | HK$13.0M | HK$16.0M | HK$35.0M | HK$18.0M | HK$19.0M |
| Total debt | n/a | HK$37.9B | HK$41.6B | HK$41.1B | HK$40.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hysan Development 0014.HK | $2.16B | -20% | -2% | 72% | 7.5× | n/a |
| Hang Lung Ppt 0101.HK | $4.40B | -29% | +10% | 53% | 11.8× | n/a |
| Wharf Reic 1997.HK | $12.6B | +24% | -1% | 73% | 14.8× | n/a |
| Swire Properties 1972.HK | $19.4B | +4% | +6% | 49% | 18.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 0014.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.0% | +1.3% | 6th highest of 21 |
| 6-month return | -19.8% | -5.4% | 6th lowest of 21 |
| Distance from 52-week high | -29.2% | -23.6% | 9th lowest of 21 |
| Revenue growth (TTM) | -1.9% | +9.6% | 4th lowest of 21 |
| Operating margin | 72.3% | 23.5% | 2nd highest of 21 |
| Forward P/E | 7.5× | 13.6× | 4th cheapest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hysan Development 0014.HK | Hong Kong | $2.16B | -20% | -2% | 72% | 7.5× | n/a | n/a |
| Newmark NMRK | United States | $2.16B | -29% | +16% | 7% | 6.1× | n/a | n/a |
| Hang Lung 0010.HK | Hong Kong | $2.14B | -25% | +9% | 53% | n/a | n/a | n/a |
| Lumo Homes LUMO.HE | Finland | $2.14B | -3% | +1% | 59% | 15.8× | n/a | n/a |
| Green Development Electricity Group of Tianjin 000537.SZ | China | $2.19B | -28% | +13% | 31% | 37.3× | n/a | n/a |
| Sirius Real Estate SRE.L | United Kingdom | $2.14B | +1% | +13% | 41% | 13.6× | n/a | n/a |
| Hufvudstaden HUFV-A.ST | Sweden | $2.14B | -5% | -4% | 47% | 20.9× | n/a | n/a |
| Country Garden Services 6098.HK | Hong Kong | $2.13B | -21% | +11% | 4% | 7.0× | n/a | n/a |
| Winnovation Culturaltainment Development Limited 000620.SZ | China | $2.12B | -6% | +14% | -39% | 66.0× | n/a | n/a |
| Investis IREN.SW | Switzerland | $2.26B | -2% | +10% | 67% | 32.9× | n/a | n/a |
| Wihlborgs Fastigheter WIHL.ST | Sweden | $2.28B | -14% | +7% | 70% | 10.8× | n/a | n/a |
| Altarea SCA ALTA.PA | France | $2.05B | -31% | -20% | 9% | 9.9× | n/a | n/a |
| Neinor Homes HOME.MC | Spain | $2.04B | +10% | +165% | 10% | 13.0× | n/a | n/a |
| Relo 8876.T | Japan | $2.30B | +21% | +7% | 20% | 15.5× | n/a | n/a |
| Fabege FABG.ST | Sweden | $2.02B | -16% | +27% | 59% | 14.7× | n/a | n/a |
| Nanjing Gaoke 600064.SS | China | $2.00B | -4% | +4% | -18% | 5.8× | n/a | n/a |
| Leopalace21 8848.T | Japan | $1.99B | +52% | +3% | 8% | 13.0× | n/a | n/a |
| China Enterprise 600675.SS | China | $1.98B | -15% | -35% | 4% | n/a | n/a | n/a |
| Metrovacesa MVC.MC | Spain | $1.95B | -5% | +58% | 13% | 26.4× | n/a | n/a |
| Argan ARG.PA | France | $1.95B | +14% | +5% | 78% | 11.2× | n/a | n/a |
| Zhaojin International Gold 000506.SZ | China | $1.95B | -13% | +42% | 27% | n/a | n/a | n/a |