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Bond Market News
Sun Hung Kai Becomes HK’s Largest Home Seller Overtaking NWD
January 6, 2022
Sun Hung Kai Properties overtook New World Development (NWD) as the largest seller of new homes in Hong Kong according to SCMP citing Dataelements. Sun Hung Kai recorded sales of HKD 29.65bn ($3.8bn) in 2021, a 15% YoY jump. NWD dropped to fourth as its sales plunged 45% to HKD 14.49bn ($138.3bn). The second and third largest were Wheelock Properties and CK Asset. NWD drop in sales came after its setback on Pavilia Farm. Sun Hung Kai saw its Wetland Seasons Bay area in Tin Shui Wai as the most popular project of the year in terms of registered buyers with the average price of a unit at HKD 7.16mn ($68.4mn).
Sun Hung Kai’s dollar bonds were flat with its 2.875% 2030s at 102.885, yielding 2.48%.
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