(MT Newswires) -- Hang Lung Properties vice-chairman Adriel Chan notes sales growth of 8% despite a bear market. The company's high-end segment remains strong, with resilient sales despite overseas travel. The mass market is more challenging, but an increase in footfall in shopping centres has helped to maintain performance.

In Hong Kong, Chan expects the high-end market to do well, but the mass market could remain under pressure. He is hoping for an easing of property restrictions by the government. 

In China, Hang Lung is taking a cautious approach to investment, with tighter selection criteria, and has not yet identified any projects of sufficient interest. For 2024, although the company anticipates growth, Adriel Chan acknowledges the possibility of the first decline in performance in 25 years. Property occupancy rates remain strong, but consumer confidence is uncertain and could influence future results.

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