美银证券发表研究报告指,本港住宅市场的逆风加剧,加上恒地(00012.HK) 中期的内地投资物业土地续期风险及高财务杠杆,或限制其股价上行空间。该行估计恒地多个主要内地投资物业的土地使用权将于未来18年内到期,估计续期20年需要支付补地价约60亿元人民币,料将拉低每股资产净值(NAV)1.5元。另一方面,本港市区重建计划料可释放66亿元利润(每股1.4港元),但额外总楼面面积带来的净资产增幅有限。...
Source Link美银证券发表研究报告指,本港住宅市场的逆风加剧,加上恒地(00012.HK) 中期的内地投资物业土地续期风险及高财务杠杆,或限制其股价上行空间。该行估计恒地多个主要内地投资物业的土地使用权将于未来18年内到期,估计续期20年需要支付补地价约60亿元人民币,料将拉低每股资产净值(NAV)1.5元。另一方面,本港市区重建计划料可释放66亿元利润(每股1.4港元),但额外总楼面面积带来的净资产增幅有限。...
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