Morgan Stanley published a research report, pointing out that the new land supply policy mentioned in the policy address will help Hong Kong to have more residential land between 2030 and 2048, and at the same time speed up the conversion of agricultural land. He believes that the current valuation of developers is attractive and reiterates his attraction to the real estate industry in Hong Kong."views.
The bank pointed out that the content of the Policy address did not change the view on supply in the next five years in the basic context of Morgan Stanley, that there was no increase in supply in the short term and that the lack of cooling measures in the property market was positive for developers. Developers who hold agricultural land, including Sun Hung Kai Properties (0016.HK), 0012.HK (Hengdi), New World Development (0017.HK) and CK Asset (1113.HK), can have a faster conversion schedule, believing that the recent stock price correction is a good entry point.