Hysan Development (HKG:0014) is optimistic the Hong Kong retail sector will recover with a rebound in tourist footprint and spending, Chairman Irene Lee Yun-lien said in a statement on the company's earnings report filed Tuesday with the Hong Kong Exchange.
The developer also believes the city's office market will continue to undergo pressure in 2025 as a decline in renewals narrows, The Standard reported separately.
Hysan made the prediction after the company returned to a net profit of HK$35 million in 2024 from a loss of HK$872 million in 2023.
The company will tread carefully as it transforms its retail and office offerings in line with trends, Lee said in her statement.
Shares rose 3% during Tuesday's afternoon trading.
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