Hangzhou Hang Lung Plaza is expected to be completed in stages starting at the end of this year, which should boost Hang Lung Properties' (00101) mid-term rental income growth.
The Zhitong Finance App learned that DBS released a research report stating that it maintains Hang Lung Properties (00101)'s “buy” rating and that the target price was lowered from HK$12.4 to HK$9.71. The company's Hangzhou Hang Lung Plaza is expected to be completed in stages starting at the end of this year, which should boost rental income growth in the medium term.
According to the report, for long-term investors betting on the Chinese retail market, Hang Lung Properties' H shares are currently a good entry point, which should support the stock price due to the company's low valuation. Although the leasing business in China is still facing challenges, current prices reflect concerns about challenges in the retail market.