HONG KONG: Hang Lung Group (0010) said today revenue from its Hong Kong commercial property portfolio grew by 9 percent to HK$2.27 billion for the year ended December 31, 2016. Overall occupancy was 96 percent. The Causeway Bay portfolio generated 12 percent more in rents year-on-year, the company reported.
Revenue of the Hong Kong office portfolio increased by 3 percent to HK$1.33 billion as a result of positive rental reversions. The overall occupancy rate fell by 3 points to 92 percent. Hang Lung Centre in Causeway Bay, in which the lift lobby and car parking spaces were upgraded during the year, posted a 5 percent rental growth year-on-year. The Central office portfolio collected 2 percent more in rents. Revenue of the Mong Kok offices slipped by 1 percent year-on-year, Hang Lung Group reported.
