ECOST均于2024/2025年落成，预计租金收入将在2024至2027财年实现约23%的年复合增长率。Bocom Intl released a report stating that it has raised the target price of New World Dev (00017) to HK$11.4 and maintains a "buy" rating.
Bocom Intl mentioned that the company's K11 and overall rental income increased by 11.9% and 9.3% respectively compared to the same period last year. K11 MUSEA and K11 Art
Mall rental rates remain high at 97% and 99%, and the comprehensive operating profit margin has increased by 1.3 percentage points to 65.6%. With the completion of 11 Skies in Hong Kong, the Kai Tak Sports Park in Hong Kong, and K11 in Prince Bay, Shenzhen
ECOST are expected to be completed in 2024/2025, with rental income expected to achieve an annual compound growth rate of approximately 23% from 2024 to 2027 fiscal years.
The report indicates that the company plans to increase deleveraging efforts, coupled with expectations of further interest rate cuts. The bank believes this will help New World save interest, restore profits, provide some support for stock prices, and the future Hong Kong real estate market, thus raising New World's profit forecast.
