Sun Hung Kai Properties has spent the past year doubling down on a strategy that uses large, integrated developments in Hong Kong and mainland China to reshape urban districts while locking in resilient, recurring income. The focus was firmly on transit-oriented, mixed-use projects in prime Asia-Pacific gateways, backed by an increasingly sophisticated digital and ESG platform and reinforced by a fast-growing logistics and data-centre arm.
In its home market of Hong Kong, the group’s residential engine has roared back. The firm recorded contracted residential sales of about HK$42.3 billion ($5.4 billion) in attributable terms, the highest level in five years, helped by a recovering housing market and a strong launch pipeline. Flagship schemes such as Sai Sha Residences, a mega transit-oriented community in the eastern New Territories, illustrate the model: a vast mixed-use neighbourhood integrating housing with education, sports, leisure and upgraded transport links.
At Kai Tak, the former airport district being repositioned as Hong Kong’s next harbour-front hub, SHKP’s Cullinan Sky development targets the very top of the market. The premium high-rise estate, which includes twin clubhouses and an elevated retail podium, has seen strong demand, with recent launches selling out quickly and underlining investor appetite for well-specified units in new urban cores.
In mainland China, SHKP has been using heavyweight mixed-use projects to deepen its presence in key Yangtze River Delta and Yangtze River hubs. In August 2024, it opened Nanjing IFC Mall, a more than 100,000 sqm luxury retail centre in the Hexi central business district, directly above a metro interchange. Branded as the third member of the group’s “IFC” family, the mall has quickly attracted top-tier international labels, achieved occupancy rates above 90%, and secured LEED v4 Platinum green-building certification, positioning it as a new benchmark for high-end retail in eastern China.
The firm recorded contracted residential sales of about HK$42.3 billion in attributable terms, the highest level in five years
In Shanghai, the Three ITC complex in Xujiahui has emerged as another regional showpiece. The mixed-use development, combining grade-A offices, destination retail and hospitality above one of the city’s busiest metro interchanges, has seen Tower A’s office occupancy ramp up to around 80%, while the wider project has been decorated with LEED Platinum, WELL Platinum and Breeam Excellent ratings. In Suzhou, the Lake Genève waterfront villa enclave on Jinji Lake continues to define the ultra-luxury segment, with recent marketing emphasising freestanding villas that have achieved prices above Rmb100,000 ($14,048) per square metre.
SHKP has been careful to knit these hard assets into a region-wide customer ecosystem. In Hong Kong, SHKP Club – the city’s first developer loyalty club – now counts more than 500,000 members, offering homebuyers and residents exclusive previews, benefits and direct feedback channels into the group’s pipeline. On the retail side, The Point, its integrated mall loyalty programme, covers 26 major shopping centres and over 2,600 merchants, with more than three million members accumulating points and rewards across the network, helping to reinforce Hong Kong’s role as a regional shopping hub while driving spending and data insight across the portfolio. Tenant-satisfaction scores at mainland flagships such as Three ITC and Nanjing IFC Mall are reported to be very high, reflecting the same service-led approach.
The group has also pushed further into “new economy” real estate, using logistics and digital infrastructure to complement its traditional portfolios. At Hong Kong International Airport, SHKP has agreed a 15-year extension of its Airport Freight Forwarding Centre (AFFC) and committed at least HK$400 million to a comprehensive upgrade of the complex, adding smart traffic systems, greener operations and more flexible warehousing to support the city’s role as an aviation and trade hub.
SUNeVision, the developer’s data-centre arm, has begun Phase II construction of its Mega IDC campus in the New Territories, a hyperscale facility that will add around 350,000 sq ft to what is already one of Hong Kong’s largest data-centre clusters. SUNeVision’s revenue and operating profit both rose sharply in financial year 2024/25, reflecting strong demand from cloud and AI workloads.
Environmental performance and digital operations provide the final pillars of SHKP’s APAC strategy. New developments such as the Sai Sha Residences have secured WiredScore Platinum, WELL Community pre-certification and BEAM Plus Gold labels, while mainland flagships Three ITC and Nanjing IFC Mall carry multiple top-tier green building accreditations, contributing to a portfolio that now boasts more than 150 certified properties.
The International Commerce Centre in Hong Kong has been used as a testbed for AI-driven energy optimisation and an extended reality facility management system that integrates digital twins, IoT and big-data analytics, cutting electricity consumption by more than 20 million kWh from 2012 levels and setting a template for smart building management across the group’s APAC portfolio.
