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HONOLULU - Howard Hughes Communities, a division of Howard Hughes Holdings Inc. (NYSE:HHH), which currently trades at $77.72 and is considered undervalued according to InvestingPro analysis, announced Thursday that its two new luxury residential towers at Ward Village in Honolulu have achieved $1.2 billion in sales, including over $280 million in penthouse sales with a single residence selling for more than $40 million.
The towers, ’Ilima Ward Village and Melia Ward Village, designed by Robert A.M. Stern Architects, have reached pre-sold levels of 41 percent and 52 percent respectively as of September 1, according to the company. The strong sales performance aligns with Howard Hughes Holdings’ robust financial health, which InvestingPro rates as "GREAT" with a score of 3.22 out of 5.
’Ilima, being developed in partnership with Discovery Land Company, will feature 148 residences across 33 stories with a distinctive angular façade. Melia, the 35-story companion tower, will comprise 221 residences. Both towers are located on what the company describes as the last available site on Oahu’s South Shore.
"With our design for ’Ilima and Melia, we dug in to capture something that says this could only be in Hawai’i—and only in Honolulu, at Ward Village," said Robert A.M. Stern, founding partner of Robert A.M. Stern Architects, in the press release statement.
The development includes plans for a native botanical garden pathway connecting the IBM Building to Ka Lei Park, designed by VITA Planning & Landscape Architecture.
Howard Hughes Holdings Inc. (NYSE:HHH), with a market capitalization of $3.88 billion and impressive current ratio of 2.04, also reported strong sales momentum at other properties in its portfolio, including The Ritz-Carlton Residences in The Woodlands, Texas, which is currently 70 percent pre-sold. Get deeper insights into HHH’s financial performance and 6 additional exclusive ProTips with InvestingPro, including detailed analysis of the company’s real estate portfolio and growth prospects.
Ward Village, a 60-acre master planned community, recently opened Victoria Ward Park Makai, the initial phase of a new 3.5-acre park. At full buildout, the development is planned to include thousands of homes and approximately one million square feet of retail space. The company’s total revenue stands at $1.77 billion for the last twelve months, demonstrating its significant market presence in the real estate development sector.
In other recent news, Howard Hughes Holdings Inc. reported disappointing second-quarter results for 2025. The company’s earnings per share (EPS) significantly missed analyst forecasts, posting an EPS of -$0.22 against the expected $1.04. This represents a surprising decline of 121.15%. Revenue also fell short of expectations, reaching $260.88 million compared to the forecasted $289.31 million, marking a 9.83% miss. These figures highlight a challenging quarter for Howard Hughes, as both earnings and revenue did not meet market expectations. The company’s performance has garnered attention from analysts, who may reassess their outlook on the stock. Investors are closely monitoring these developments, as they could influence future analyst ratings and recommendations.
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