Hang Lung Properties secures HK$10bn loan from banks; 2024 profit dips

The Hong Kong property developer secured the deal with a consortium of international, Chinese and local banks; the company cited "challenging" market conditions in mainland China and Hong Kong as 2024 profits fell 25%.

Amid a tough property market, Hong Kong property developer Hang Lung Properties has signed a five-year HK$10 billion ($1.28 billion) loan facilities with a consortium of international, Chinese and local banks.

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