Emperor International Addresses Debt Concerns and Property Sales

Emperor International Holdings has addressed market concerns regarding its debt issues, stating that it reached an agreement with all relevant banks on loan arrangements by the end of last year. According to RTHK, Vice Chairman Yang Zhenglong described the current arrangements between the group and banks as normal. He highlighted the group's successful property sales, noting that commercial properties in London and Hong Kong were sold above market value, indicating banks' confidence in the group's sales capabilities. Yang mentioned plans to continue adjusting the property portfolio, with at least two residential projects expected to be launched this year. He did not rule out acquiring properties with potential for appreciation. Additionally, Yang revealed ongoing discussions with other developers about potential partnerships and profit-sharing models. While the group is monitoring development opportunities in the Northern Metropolis, there are no immediate plans. Yang noted that the real estate market has shown promising transaction data this year, with improvements in viewings, transaction prices, and inquiries for their luxury properties, leading the group to raise asking prices. Regarding the proposed increase in stamp duty for residential property transactions over HKD 100 million in the fiscal budget, Yang believes the market will need time to adjust. However, he does not expect the increase to significantly impact purchasing power or demand, as buyers of luxury properties over HKD 100 million are unlikely to be deterred by the higher stamp duty.