New World Development reported a substantial increase in profits, primarily attributed to gains from land sales. The Hong Kong-based conglomerate’s underlying profit also demonstrated positive growth, fueled by robust performance within its property segment.

The company’s strategic decision to divest certain land holdings proved to be a key driver of its financial success. This move allowed New World Development to capitalize on favorable market conditions and unlock significant value from its assets.

In addition to land sales, the company’s core property business contributed significantly to the overall profit increase. Strong sales and rental income from its diverse portfolio of residential, commercial, and industrial properties bolstered the bottom line.

Analysts noted that New World Development’s diversified business model, which includes property development, infrastructure, and retail, provides a buffer against economic fluctuations and contributes to its long-term stability.

The company’s management expressed optimism about its future prospects, citing its strong financial position and pipeline of upcoming projects. New World Development plans to continue its focus on strategic investments and sustainable growth initiatives.