Cheung Kong, billionaire Li Ka-shing’s property developer, said 2009 profit rose 53% as economic growth in China and Hong Kong lifted home sales and raised the value of its investment properties.

Net income climbed to HK$19.9bn, or HK$8.59 a share, from a restated HK$13bn, or HK$5.63, in 2008, the world’s second-biggest builder by market value said in a statement today. That beat the average HK$17.6bn estimate of 10 analysts compiled by Bloomberg. Excluding earnings from its 49.97% stake in Hutchison Whampoa, profit jumped 91% to HK$12.8bn, from HK$6.69bn in 2008, the company said in the stock exchange filing.