Listed on the Hong Kong Stock Exchange since October 2000, MTR Corporation Ltd is a transport conglomerate that owns and operates Hong Kong’s rail system comprising 10 railway lines serving Hong Kong Island, Kowloon, and the New Territories. MTR also operates light rail services and the Airport Express.

On the real estate side of the business, MTR also rents out station retail space and sells advertisement space on trains and in stations. The group also develops mainly residential properties in Hong Kong by partnering with property developers, and holds investment properties such as shopping malls, offices, and car parks. In mainland China, MTR has invested in and operated rail networks and property developments.

MTR’s business has generally remained resilient as the rail operator has a monopoly of the rail system in Hong Kong, while its property portfolio generates stable rental income for the group. However,