Hong Kong’s Top Developer Profit Rises as Market Rebounds

Hong Kong’s biggest property developer recorded growth in first-half profit, in another sign of the city’s real estate recovery.

Sun Hung Kai Properties Ltd.’s underlying earnings, which exclude property revaluations, increased 17% from a year earlier to HK$12.2 billion ($1.6 billion) in the six months ended Dec. 31, the company said in a filing Thursday. The company will provide an interim dividend of HK$0.98 per share, up 3% from a year earlier.