Wharf Reic
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Wharf Reic

Wharf Reic
Wharf Reic
Wharf Real Estate Investment is a shopping centre and hotel owner and operator in Hong Kong. It owns the Times Square and Harbour City shopping malls in Causeway Bay and Tsim Sha Tsui, respectively, as well as the Marco Polo Hong Kong, Gateway and Prince hotels. The company was spun off from sister company Wharf (Holdings), one of Hong Kong's biggest landowners, in 2017, and is part of Wheelock and Co.
Chairman / President
Stephen T.H. Ng
CEO / Managing Director
Stephen T.H. Ng
CFO / Finance Director
Paul Y.C. Tsui
Industry
Real estate
Website
wharfreic.com
Headquarters address
Harbour City, 16 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong
Stock Code
SEHK:1997
Year founded
2017
Mainland Chinese tourists check items at a souvenir shop in Tsim Sha Tsui during the National Day “golden week” holiday. Photo: Jelly Tse
Hong Kong property

As Hong Kong retail sales recover, can landlords follow with higher shop rents?

The journey from retail sales stabilisation to strengthened rental prices in the property market could take at least a year.

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Hong Kong

Harbour City owner says earnings sink on weak retail, property market

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Hong Kong property

Hong Kong developers to feel earnings pain amid high vacancy rates: Moody’s

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Wharf Holdings

Wharf, REIC warn of rare losses as foot traffic falls at Hong Kong malls

The rare warnings show how Hong Kong’s consumption slump is trickling down to the bottom lines of the city’s shopping centre operators and landlords.

A view of Times Square shopping mall during the Easter public holidays on 31 March 2024. Photo: Martin Chan
Hong Kong property

Louis Vuitton returns to Hong Kong’s Times Square after 3-year gap

Louis Vuitton is returning to Times Square, three years after the French luxury brand shut its store, a sign of a brighter outlook for Hong Kong’s luxury retail market.

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Hong Kong property

Wharf Reic aims to stimulate spending with promotions after posting flat profit

Harbour City and Times Square owner’s full-year 2023 profit fell 3 per cent to US$767.3 million even as revenue jumped 7 per cent. The company hopes to overcome headwinds through promotional activities with the Hong Kong government.

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Hong Kong property

Hong Kong landlord Wharf Reic recovers to post US$230 million first-half profit

Wharf Reic reported a net profit of HK$1.8 billion (US$230 million) for the first half versus a HK$1.5 billion loss a year earlier, but said recovery was ‘impeded by global geopolitical and economic uncertainties’.

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Wharf Reic, the owner of Times Square shopping mall, benefited from the border reopening to post a profit for the first half. Photo: Robert Ng
Wharf Holdings

Wharf Reic reports loss of HK$1.47 billion for Covid-ravaged first half

Revenue declined 17 per cent compared with the first half of 2021, but the company reported a 3 per cent increase in underlying net profit while issuing a cautious outlook.

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Hong Kong property

Wharf Reic warns of losses as value of properties erodes amid weak economy

Wharf Reic, which is controlled by tycoon Peter Woo Kwong-ching, expects to slip into an interim loss as the value of its investment properties has suffered under poor business conditions.

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Hong Kong property

Wharf Reic says unless economy recovers, situation will be ‘difficult to deal with’

Wharf Real Estate Investment Company (Wharf Reic), which owns the Harbour City and Times Square shopping centres in Hong Kong, said it expected business to be difficult amid Hong Kong’s most serious Covid-19 outbreak yet.

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Wharf’s Harbour City shopping centre in Tsim Sha Tsui. Footfall at shopping centres suffered a big drop in the first two months of this year, says Stephen Ng, the company’s chairman and managing director. Photo: Nora Tam
Hong Kong property

Wharf Reic reports 10 per cent rise in first-half revenue, rues absence of tourists

Although retail sales might have bottomed out in Hong Kong, rental incomes will remain under tremendous pressure until border controls are relaxed, according to Wharf Real Estate Investment Company.

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Times Square, one of the shopping centres owned by Wharf Reic. Borders reopening and the return of mainland Chinese spending are key to retail rents rising, according to Savills. Photo: Robert Ng
Hong Kong stock market

Hong Kong stocks gain, with bargain hunting in virus-battered property shares

Gains accelerated in the afternoon, as sentiment turned up after three straight sessions of losses. Trading sentiment overall is positive in Hong Kong, where the benchmark rose in back-to-back months. Excitement continues over a new tech board and IPOs.

Retail properties

Hong Kong outlook ‘pathetic’, Wharf REIC says as it reports revenue drop

Hong Kong shopping centre and hotel operator Wharf Real Estate Investment Company (Wharf REIC) said on Thursday the outlook for the city’s economy was “pathetic” and “dire” in the near term.

Stocks

Stocks Blog: Hang Seng jumps on heels of huge pro-democracy win in Hong Kong elections; Tencent, Wharf REIC among gainers

“The gains are highly related to the election results and the peaceful weekend,” said Alan Li, portfolio manager at Atta Capital. 

Pro-democracy supporters celebrate huge gains in the district council elections. Protests have weighed on trading sentiment in Hong Kong. Photo: AP
Stocks

Stocks Blog: Tencent falls on results miss; Wharf REIC declines as protests continue

China's October industrial production and retail sales data missed estimates, but Shanghai rose a bit. Cathay falls after saying second half results to be ‘significantly below’ first half.

Police fire tear gas at the Polytechnic University Chatham Road South entrance. Photo: SCMP
Hong Kong property

Hong Kong’s retail sales depend on trade war outcome: Times Square owner

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