智通财经APP获悉，星展发布研究报告称，予恒基地产(00012)“买入”评级，看好公司正释放其在北部都会区的农地储备中的隐藏价值，且扩展租赁组合将改善其经常性收入基础，提高盈利质量，长期而言可支持公司提高估值，目标价由28.15港元上调至30.5港元。
恒基地产为香港最多农地储备的发展商，所持的大部分农地集中于北部都会区，透过将农地转为住宅或其他用途，公司可以优惠的成本获取开发土地。政府对北部都会区某些土地的收回，亦能令公司变现其庞大的农地储备。
该行认为，政府向恒地收回北部都会区约500万方呎的农地，预料补偿逾57亿元，相信可为恒地2024年贡献约31亿元的收益。此外，公司预期将于下半年入账销售额超过120亿元，毛利率合理，近期开发物业收益可获保障。公司亦正提供一些新的住宅开发项目，如红磡BAKER CIRCLE DOVER招租，迎合目前强劲的租赁需求。
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