Our real estate business comprises the development, sale and management of commercial properties and integrated property projects in mainland China and Hong Kong.
CITIC Pacific Properties is a property developer focusing on high-end commercial properties, as well as mixed-use urban developments.
CITIC Urban Development & Operation is a property developer focusing on real estate finance, urban renewal, and urban development and operations.
In 2017, the real estate business recorded revenue of HK$3.2 billion. Continuing operations recorded a profit attributable to ordinary shareholders of HK$7.66 billion, representing a year-on-year increase of 332%, including HK$3.6 billion contributed by China Overseas Land & Investment and profit from the delivery of office buildings to Industrial and Commercial Bank of China (ICBC) and China Life.