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Premier commercial property owner and developer, holding prime office towers in Central Hong Kong, part of Jardine Matheson.
Premier commercial property owner and developer, holding prime office towers in Central Hong Kong, part of Jardine Matheson.
Earns rent from long-term office and retail leases in Central, Hong Kong, and builds and sells apartments in mainland China and Southeast Asia, which makes for uneven profit. It was founded in 1889, and the Jardine Matheson group controls it.
In one line: A Hong Kong Boston Properties/SL Green.
Moat: narrow (installed base, scale, brand). Owns a concentrated, irreplaceable portfolio of prime Central Hong Kong office towers.
Headquarters: Hong Kong (incorporated Bermuda) · Founded: 1889 · Employees: 2,552
Size Hongkong Land (H78.SI) is a Singapore Real Estate company (Real Estate Development) with a market value of $17.7B, the 7th largest of 186 Singapore companies the cockpit tracks. Shares closed at S$8.28 on 6 Nov 2026.
Performance Over six months the shares fell 1.3%, against -6.2% for the median peer and -1.2% for the Singapore market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue fell 25.2% over the last twelve months (peer median +3.6%); the operating margin is 23.3% (peer median 20.4%).
Valuation It trades at 20.9× forward earnings against a peer median of 17.0× (6th most expensive of 21).
Credit Hongkong Land has 2 bonds outstanding ($1.10B), rated A by the agencies and trading like AA+ at a weighted spread of 48 bp.
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$1.38B | S$1.49B | S$2.07B | S$1.90B | S$2.28B |
| Revenue growth | — | -28% | +9% | -17% | — |
| Gross profit | S$540M | S$534M | S$807M | S$985M | S$1.06B |
| EBITDA | S$328M | S$324M | S$610M | S$780M | S$863M |
| Net income | S$2.30B | S$1.26B | -S$1.38B | -S$582M | S$203M |
| Free cash flow | S$366M | S$420M | S$592M | S$616M | S$764M |
| Capital expenditure | S$213M | S$164M | S$78.5M | S$85.3M | S$94.6M |
| Total debt | n/a | S$6.14B | S$6.17B | S$6.57B | S$7.00B |
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 |
|---|---|---|---|---|---|---|
| Hongkong Land H78.SI | $17.7B | -1% | -25% | 23% | 20.9× | n/a |
| Swire Properties 1972.HK | $19.4B | +4% | +6% | 49% | 18.3× | n/a |
| Link REIT 0823.HK | $13.8B | +3% | -3% | 68% | 16.5× | n/a |
| Shk Ppt 0016.HK | $43.5B | -18% | +17% | 26% | 14.1× | 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 | H78.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.7% | +7.9% | 4th lowest of 21 |
| 6-month return | -1.3% | -6.2% | 9th highest of 21 |
| Distance from 52-week high | -9.2% | -15.6% | 8th highest of 21 |
| Revenue growth (TTM) | -25.2% | +3.6% | 2nd lowest of 21 |
| Operating margin | 23.3% | 20.4% | 10th highest of 21 |
| Forward P/E | 20.9× | 17.0× | 6th most expensive of 21 |
| Bond spread | 48 bp | 103 bp | tightest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hongkong Land H78.SI | Singapore | $17.7B | -1% | -25% | 23% | 20.9× | n/a | n/a |
| Henderson Land 0012.HK | Hong Kong | $18.3B | -12% | +46% | 20% | 17.2× | n/a | n/a |
| China Overseas 0688.HK | Hong Kong | $18.4B | -13% | +4% | 11% | 10.2× | n/a | n/a |
| Jones Lang LaSalle JLL | United States | $16.9B | +12% | +11% | 5% | 13.4× | n/a | n/a |
| Sumitomo Realty & Development C 8830.T | Japan | $18.8B | -34% | +5% | 29% | 12.8× | n/a | n/a |
| Swire Properties 1972.HK | Hong Kong | $19.4B | +4% | +6% | 49% | 18.3× | n/a | n/a |
| Vonovia VNA.DE | Germany | $16.1B | -24% | -17% | 40% | 9.4× | n/a | n/a |
| DLF DLF.NS | India | $19.7B | +22% | -29% | 13% | 38.3× | n/a | n/a |
| KE Holdings, Inc. Class A 2423.HK | Hong Kong | $21.4B | +3% | -11% | 6% | 16.8× | n/a | n/a |
| CK Asset 1113.HK | Hong Kong | $21.9B | -3% | +48% | 15% | 12.8× | n/a | n/a |
| Swiss Prime Site SPSN.SW | Switzerland | $13.0B | +1% | -12% | 76% | 31.7× | n/a | n/a |
| Sino Land 0083.HK | Hong Kong | $12.8B | -20% | +15% | 34% | 20.4× | n/a | n/a |
| Wharf Reic 1997.HK | Hong Kong | $12.6B | +24% | -1% | 73% | 14.8× | n/a | n/a |
| Lodha Developers LODHA.NS | India | $12.5B | +22% | +21% | 31% | 27.0× | n/a | n/a |
| China Res Mixc 1209.HK | Hong Kong | $12.1B | -14% | +10% | 28% | 18.4× | n/a | n/a |
| Klepierre LI.PA | France | $11.6B | +8% | +3% | 63% | 13.1× | n/a | n/a |
| Mitsui Fudosan 8801.T | Japan | $27.4B | -5% | -10% | 14% | 14.9× | n/a | n/a |
| China Res Land 1109.HK | Hong Kong | $29.1B | -7% | -12% | 16% | 8.9× | n/a | n/a |
| Mitsubishi Estate 8802.T | Japan | $29.5B | -12% | +17% | 21% | 19.2× | n/a | n/a |
| China Merchants Shekou Industrial Zone 001979.SZ | China | $10.4B | -10% | -22% | 1% | 69.7× | n/a | n/a |
| Poly Developments & 600048.SS | China | $10.1B | -9% | -4% | 4% | 48.6× | n/a | n/a |
Hongkong Land has 2 bonds outstanding with $1.10B face value. The agencies rate it A; its bonds trade like AA+. Weighted yield 5.10%, a spread of 48 bp over government bonds.