Hong Kong property developers’ hike in dividend demonstrates optimism
Hong Kong property developers have reportedly indicated their confidence in the economy by raising interim dividend payouts. Lee Wee Liat, a director at BNP Paribas, has stated that despite ‘uncertainties in the Chinese economy and potential US rate rises’, developers remain optimistic about the property market; this optimism could partly stem from office rental prices, which are increasing in every sector apart from retail. These stockholder payouts could be a sign of generosity from the city’s developers after strong sales figures for 2015, claims Lee.
Construction site of Axis, one of the The H Collection by Henderson Land Development, among a raft of property companies whose increases in their dividend payouts outline their confidence in hitting their annual sales target this year. Photo: Dickson Lee