UBS: Cheung Kong Holdings (01113.HK) maintains a cautious view on the Hong Kong residential market. A special dividend may be decided upon the announcement of mid-term results.

According to the Guotong Finance and Economics APP, UBS released a research report stating that Cheung Kong (01113.HK) maintained a cautious view on the Hong Kong residential market at the Asian Investment Forum on May 26. Cheung Kong expects the rental rate for its Cheung Kong Centre Phase II to exceed 50% by the end of 2026, with the current rental rate at about 20% and current rent rising to over HK$100 per square foot. In terms of retail, the performance of its shopping malls' rental rates is stabilizing. UBS has given Cheung Kong a "buy" rating with a target price of HK$62, representing a 40% discount to the forecast net asset value.