Henderson Land Development Co

Henderson Land Development Co. Ltd. is an investment holding company, which engages in the property development and investment, construction, infrastructure, hotel operation, finance, department store operation, and project management. It operates through the following segments: Property Development, Property Leasing, Department Stores and Supermarket-Cum-Stores Operations, Hotel Room Operation, and Other Businesses. The Property Development segment develops and sells properties. The Property Leasing segment leases properties. The Department Stores and Supermarket-Cum-Stores Operations segment operates and manages department stores and supermarket-cum-stores. The Hotel Room Operation segment operates hotel properties. The Other Businesses segment is composed of hotel management, construction, provision of finance, investment holding, project and property management, agency services, security guard and cleaning services, food and beverage operation, travel operation, and trading of building materials. The company was founded by Shau Kee Lee in 1976 and is headquartered in Hong Kong.

I have upgraded Henderson Land Development Company Limited's rating to a Buy, as the stock is attractively valued with valuation re-rating potential. Lower interest rates in Hong Kong are expected to boost residential property sales, benefiting Henderson Land's new project launches in 2H 2024. Asset monetization activities, including farmland sales, are likely to unlock significant value and enhance Henderson Land's future valuations.

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