Kerry Properties targets Hong Kong sites, eyes luxury market as mainland growth slumps

Kerry Properties is targeting Hong Kong residential land sales and will consider recycling capital from existing assets, betting on a tighter local housing supply even as China’s property downturn weighs on its mainland business. The developer said it acquired three residential sites in Hong Kong in the first half, equal to about 235,000 sq ft of gross floor area, and that it would remain active in government land tenders. “If you look at the government land auctions and MTR land tenders in the...