Hang Lung flags ‘tough slog’ for property, as it looks to mainland malls for growth

Hong Kong developer Hang Lung Properties is pinning its medium-term outlook on a recovery in mainland Chinese consumption, even as it warned that both the city’s and China’s property markets remain under strain. The commercial landlord, residential developer and hotel owner said it expected a “tough slog” for the broader sector despite signs of improvement in operating conditions, particularly in the second half of the year. Net profit attributable to shareholders fell 16 per cent to HK$1.8...