Hongkong Land Holdings Limited

SGX:H78 Stock Report

Market Cap: US$15.7b

Hongkong Land Holdings Future Growth

Future criteria checks 0/6

Hongkong Land Holdings's earnings are forecast to decline at 1.2% per annum while its annual revenue is expected to grow at 2% per year. EPS is expected to decline by 2.5% per annum. Return on equity is forecast to be 2.2% in 3 years.

Key information

-1.2%

Earnings growth rate

-2.49%

EPS growth rate

Real Estate earnings growth7.7%
Revenue growth rate2.0%
Future return on equity2.25%
Analyst coverage

Good

Last updated10 Jul 2026

Recent future growth updates

Recent updates

Narrative Update • Jul 09

H78: Share Buybacks And Higher Future P/E Will Shape Upside Execution Risk Profile

Analysts have raised their price target for Hongkong Land Holdings to $8.29 from $7.76, as modestly higher assumed future P/E and slightly adjusted forecasts for discount rate, revenue decline, and profit margin feed into updated valuation work. What’s in the News for Hongkong Land Holdings Hongkong Land Holdings commenced share repurchases on May 18, 2026, under a shareholder mandated program that allows the company to buy back up to 709,689,131 shares, equivalent to 10% of its issued ordinary share capital.
Narrative Update • Jun 25

H78: Sustained Dividend Payout Will Support Future Share Re Rating

The latest Narrative Update on Hongkong Land Holdings keeps the analyst price target effectively unchanged at $10.03, with analysts pointing to only marginal tweaks in discount rate, revenue growth, profit margin, and forward P/E assumptions as the basis for this steady view. What's in the News Hongkong Land Holdings has proposed a 2025 final dividend of US cents 19.00 per share, with a GBP equivalent of 14.0605 pence, according to company key developments.
Narrative Update • Jun 10

H78: Lower Discount Rate And Firm Dividend Policy Will Support Long-Term Upside

Analysts have nudged their price target for Hongkong Land Holdings up from $10.90 to $11.20, citing refreshed assumptions around discount rates, revenue growth, profit margins and future P/E that feed into their updated valuation work. What's in the News Hongkong Land Holdings has proposed a 2025 final dividend of US cents 19.00 per share, with a GBP equivalent of 14.0605 pence, according to company disclosures.
Narrative Update • May 27

H78: Dividend And Buyback Programme Will Support Future Share Re Rating

Analysts have raised their price target on Hongkong Land Holdings from about $9.88 to approximately $10.03, citing updated assumptions for revenue growth, profit margins, discount rate, and future P/E multiples. What's in the News Proposed final dividend for the year ended 31 December 2025 is US$0.19 per share, with a total payout of US$408.9m, compared with US$375.1m for 2024 (company announcement).
Narrative Update • Apr 30

H78: Higher Multiple And Fund Recycling Will Shape Future Execution Risk Profile

Analysts now see fair value for Hongkong Land Holdings at about $7.76 per share, up from roughly $5.30, citing a higher assumed future P/E multiple of 30.97x versus 14.16x, even as they factor in softer revenue growth and a slightly lower profit margin. Analyst Commentary Recent research around the new fair value estimate of about $7.76 per share reflects a wide range of views on how realistic the higher assumed P/E multiple of 30.97x is, given softer revenue expectations and a slightly lower profit margin.
Narrative Update • Apr 16

H78: Capital Recycling And Goldman Upgrade Will Support Future Share Re Rating

Narrative Update Analysts have adjusted their price target on Hongkong Land Holdings to reflect a slightly lower assumed discount rate and a modestly reduced future P/E of about 29.66x. The new target is framed around updated fair value work and recent research upgrades on the stock.
Narrative Update • Apr 01

H78: Capital Recycling And New Fund Platform Will Drive Future Upside

Analysts have lifted their price target for Hongkong Land Holdings to $9.88 from $8.74 as they factor in revised assumptions for fair value, discount rate, revenue growth, profit margin and future P/E, in line with recent Street research upgrades. Analyst Commentary Street research around the latest fair value work highlights where bullish analysts see upside in Hongkong Land Holdings and where more cautious voices are focusing on risks to execution and valuation.
Narrative Update • Mar 17

H78: Recent Upgrade And Capital Recycling Platform Will Support Measured Long-Term Upside

Analysts have lifted their fair value estimate for Hongkong Land Holdings from $8.90 to $10.90, reflecting updated views on revenue growth, profit margins and future P/E assumptions outlined in recent Street research. Analyst Commentary Recent Street research points to a more constructive stance on Hongkong Land Holdings, with bullish analysts using the higher fair value estimate as a reference point for what they see as improved fundamentals and clearer visibility on key drivers of the business.
Narrative Update • Mar 03

H78: Capital Recycling And New Fund Platform Will Shape Future Returns

Analysts have lifted their fair value estimate for Hongkong Land Holdings from $6.86 to $8.74, citing updated assumptions on discount rates, revenue growth, margins and future P/E that supported a recent upgrade in Street research. Analyst Commentary Bullish Takeaways Bullish analysts see the higher fair value estimate of $8.74 as better aligned with updated assumptions on discount rates, revenue growth and margins, which they view as more reflective of the company’s current execution profile.
Narrative Update • Feb 17

H78: Future Fund Recycling Will Expose Execution And Cash Flow Downside Risk

Analysts have slightly adjusted their price target for Hongkong Land Holdings to around $5.30 from about $5.43, reflecting updated views on discount rates, revenue growth, profit margins and future P/E multiples following recent research. Analyst Commentary Recent research around Hongkong Land Holdings highlights a mix of views, with some focusing on potential upside drivers and others flagging execution and valuation risks.
Narrative Update • Feb 02

H78: Singapore Fund Launch And Capital Recycling Will Support Measured Long-Term Upside

Analysts have lifted their fair value estimate for Hongkong Land Holdings from $8.66 to $8.90, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E that marginally adjust their view of the stock’s long term earnings profile. What's in the News Hongkong Land is progressing towards the launch of its first private real estate fund, the Singapore Central Private Real Estate Fund (SCPREF), which is expected to focus solely on prime commercial property assets in Singapore and to be one of the largest private real estate funds in the market with more than S$8,000m of assets under management at inception (company announcement).
Narrative Update • Jan 19

H78: Future Fund Launch And Asset Recycling Will Highlight Downside Risk

Analysts have raised their price target for Hongkong Land Holdings from HK$4.88 to about HK$5.43, citing updated assumptions that incorporate a modestly higher discount rate, a shift from a 12.30% revenue decline to 5.00% revenue growth, and a lower projected profit margin alongside a slightly reduced future P/E multiple. What's in the News Hongkong Land is preparing to launch its first private real estate fund, the Singapore Central Private Real Estate Fund (SCPREF), focused on prime commercial property assets in Singapore, with more than S$8,000 million of assets under management expected at inception (Key Developments).
Narrative Update • Jan 05

H78: Singapore Private Fund Platform And Capital Recycling Will Unlock Future Upside

Analysts have maintained their fair value estimate for Hongkong Land Holdings at $8.66 while adjusting underlying assumptions such as the discount rate, revenue growth, profit margin and future P/E, resulting in a refined yet unchanged price target. What's in the News Hongkong Land is preparing to launch its first private real estate fund, the Singapore Central Private Real Estate Fund (SCPREF).
Narrative Update • Dec 14

H78: Future Fee Income From Singapore Fund Will Drive Upside Potential

Narrative Update The analyst fair value estimate for Hongkong Land Holdings has been raised from 7.42 dollars to 8.66 dollars. Analysts attribute this change to a stronger expected profit margin and slightly higher valuation multiples, even though revenue growth assumptions have moderated and the discount rate is marginally higher.
Analysis Article • Oct 19

Does Hongkong Land Holdings (SGX:H78) Have A Healthy Balance Sheet?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Narrative Update • Sep 20

Marquee Asset Repositioning And Asian Expansion Will Create Lasting Value

Despite a significant reduction in projected revenue growth, Hongkong Land Holdings' higher net profit margin has driven a positive re-rating, increasing the consensus analyst price target from $6.36 to $6.86. What's in the News Repurchased $134 million worth of shares, completing the buyback program announced earlier in the year.
Narrative Update • Sep 05

Marquee Asset Repositioning And Asian Expansion Will Create Lasting Value

Hongkong Land Holdings’ fair value outlook remains stable as both the future P/E and discount rate saw only marginal changes, resulting in the consensus analyst price target holding steady at $6.36. What's in the News The company completed a $134 million share buyback, repurchasing this amount of shares between April 24 and July 28, 2025, fulfilling the buyback announced on April 24, 2025.
Analysis Article • Aug 22

A Look At The Intrinsic Value Of Hongkong Land Holdings Limited (SGX:H78)

SGX:H78 1 Year Share Price vs Fair Value Explore Hongkong Land Holdings's Fair Values from the Community and select...
Analysis Article • Jul 31

Hongkong Land Holdings' (SGX:H78) Dividend Will Be $0.06

Hongkong Land Holdings Limited ( SGX:H78 ) will pay a dividend of $0.06 on the 15th of October. This means that the...
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New Narrative • May 15

Capital Recycling And Premium Assets Will Drive Vision 2035

Capital recycling, strategic investments, and share buybacks are poised to enhance shareholder value, flexibility, and earnings growth.

Earnings and Revenue Growth Forecasts

SGX:H78 - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,6509234557707
12/31/20271,5727276777838
12/31/20261,6115838538387
12/31/20251,4481,263420584N/A
9/30/20251,615466468602N/A
6/30/20251,781-331516619N/A
3/31/20251,892-858554645N/A
12/31/20242,002-1,385592671N/A
9/30/20242,074-1,234633710N/A
6/30/20242,146-1,082675749N/A
3/31/20241,995-832645725N/A
12/31/20231,844-582616702N/A
9/30/20231,933-502840934N/A
6/30/20232,021-4221,0641,166N/A
3/31/20232,133-1109141,012N/A
12/31/20222,244203764858N/A
9/30/20222,318505222315N/A
6/30/20222,393808-319-228N/A
3/31/20222,38822955150N/A
12/31/20212,384-349430529N/A
9/30/20212,272-1,017754863N/A
6/30/20212,160-1,6851,0781,198N/A
3/31/20212,127-2,1669651,089N/A
12/31/20202,094-2,647852981N/A
9/30/20202,215-2,3449881,116N/A
6/30/20202,336-2,0401,1251,250N/A
3/31/20202,328-9211,0951,216N/A
12/31/20192,3201981,0661,182N/A
9/30/20192,137971N/A1,026N/A
6/30/20191,9531,744N/A870N/A
3/31/20192,3092,100N/A737N/A
12/31/20182,6652,457N/A604N/A
9/30/20182,4913,041N/A502N/A
6/30/20182,3163,624N/A400N/A
3/31/20181,9664,619N/A600N/A
12/31/20171,6165,614N/A800N/A
9/30/20171,8225,406N/A1,001N/A
6/30/20172,0275,197N/A1,202N/A
3/31/20172,0114,272N/A1,149N/A
12/31/20161,9943,346N/A1,096N/A
9/30/20161,9023,054N/A1,130N/A
6/30/20161,8102,762N/A1,163N/A
3/31/20161,8712,387N/A1,030N/A
12/31/20151,9322,012N/A896N/A
9/30/20152,0561,645N/A785N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: H78's earnings are forecast to decline over the next 3 years (-1.2% per year).

Earnings vs Market: H78's earnings are forecast to decline over the next 3 years (-1.2% per year).

High Growth Earnings: H78's earnings are forecast to decline over the next 3 years.

Revenue vs Market: H78's revenue (2% per year) is forecast to grow slower than the SG market (5.6% per year).

High Growth Revenue: H78's revenue (2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: H78's Return on Equity is forecast to be low in 3 years time (2.2%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/12 01:48
End of Day Share Price 2026/07/10 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Hongkong Land Holdings Limited is covered by 28 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kwok Yi LouieBarclays
Andrew LawrenceBarclays
Karl ChoiBofA Global Research