PROPERTY PORTFOLIO

PROPERTY PORTFOLIO SUMMARY1

GROSS REVENUE NET PROPERTY INCOME FY15/16 FY15/16 Gross Floor Area 3 S$336.6m S$277.5m 3,256,667sq ft Lettable Area Occupancy Top 2 2,625,438sq ft Rate Tenants Offi ce : 1,621,114 sq ft Retail : 1,004,324 sq ft Apple, Arup, Bank of China, BMW, China Fortune Land Market Valuation 98.6% Development (CFLD), AS OF 31 MARCH 20164 Cummins, H&M, I.T, Spreadtrum, TaSTe S$5,922m ANNUAL REPORT 2015/2016 23

FESTIVAL WALK , ̬ࣴ೺ Festival Walk is a premier and one-stop shopping, dining and lifestyle destination that offers more than 200 local and international brands as well as more than 30 food outlets VRIWSTRATEGY OVERVIEW Retail and Offi ce over seven retail levels. Situated in the upscale residential area of Kowloon MGCCT’s portfolio Tong, Festival Walk is directly linked comprises three prime to the Kowloon Tong MTR station and commercial properties enjoys excellent connectivity between located in Hong Kong, the underground Kwun Tong Line and the overland East Rail Line which links Hong Kong directly to the Shenzhen border. Beijing and Shanghai, Adjacent to two universities and neighbouring schools, the mall is also accessible covering a net lettable area by bus and road networks. The mall is well-supported by commuters passing of 2.6 million square feet. through the busy transport node as well as a catchment area with a population All three assets enjoy of more than 1.4 million. Key tenants at the mall include the Apple store, H&M, PERFORMANCE excellent connectivity with LOG-ON, Marks & Spencer, Page One bookstore, TaSTe supermarket, UNIQLO and Zara Home. The mall also features a large multiplex cinema1, “FoodFest” food court convenient access to major and one of Hong Kong’s largest ice rinks, the “Glacier”. Festival Walk also has a roads, expressways and four-storey offi ce block with tenants such as Arup and Prudential. subway lines. With high quality tenants operating GATEWAY PLAZA across diversifi ed trade ҟ⼷Ꭻ౦ sectors contributing to the Strategically located in the well- & OTHERS FINANCIALS & SUSTAINABILITY GOVERNANCE established “Lufthansa” commercial portfolio’s steady rental hub within the Third in growth, the three properties Beijing, Gateway Plaza is a Grade-A are expected to deliver offi ce building which is home to stable DPU growth. a diverse group of well-known multinationals and local companies including BASF, BMW, CFLD, and Cummins. It occupies a vantage position, well-linked by major train, bus and road networks and next to the Airport Expressway with direct access to the Beijing Capital International Airport. Amenities provided at the podium area of the building include Bank of China, Nanyang Commercial Bank, a medical clinic and a selection of food & beverage (“F&B”) outlets including Starbucks and a Western café.

SANDHILL PLAZA ᆁᘟᎫ౦ Acquired in June 2015, Sandhill Plaza is one of the newest premium quality business park developments Weighted Average in the mature area of Zhangjiang Lease Expiry (WALE) Hi-tech Park, designated as a Free by Monthly Gross Trade Zone in Shanghai. Located 5 between the Middle Ring and Outer Rental Income (GRI) Ring Expressways of Shanghai, it is within a 30-minute drive to 2.6years International Airport, Central Business District and People’s Square in Puxi as well as within a 5-minute walk to Metro .

1 All portfolio information and numbers presented The tenants come from diverse sectors and include Analog Devices, Axalta, in this section are as of 31 March 2016 unless Borouge, Disney, Spreadtrum, Univar and Wincor Nixdorf. Sandhill Plaza offers a otherwise specifi ed. The footnotes below also apply to this section. range of amenities including a staff canteen, F&B outlets and a convenience store. 2 Top 10 tenants by gross rental income for the month of March 2016. 3 sq ft (square feet). 4 Based on valuation on each property carried out by Colliers International (Hong Kong) Limited as of 31 March 2016. 1 The cinema has been undergoing renovations since early 2016 and is expected to re-open under a new 5 Based on committed leases. operator in June 2016. PROPERTY PORTFOLIO

Festival Walk Hong Kong

GROSS REVENUE NET PROPERTY INCOME 80 Gross Floor Area FY15/16 FY15/16 Tat Chee 1,208,754sqft Avenue, Offi ce : 228,665 sq ft S$236.5m S$187.2m Kowloon Tong, Retail : 980,089 sq ft Hong Kong Lettable Area Market Valuation Top Comprises a LOCAL CURRENCY/S$ four-storey offi ce tower 798,372sqft Tenants atop a seven-storey Offi ce : 213,982 sq ft Retail : 584,390 sq ft HK$23,930m RETAIL territorial retail mall and (S$4,253 million) Apple Store, H&M, three underground HSBC and Premier Centre, car park levels WALE by Monthly GRI I.T, LOG-ON, Overall: 2.3years Occupancy Rate Marks & Spencer, Offi ce : 1.8 years AS OF 31 MARCH 2016: TaSTe, UNIQLO Retail : 2.4 years OFFICE 100.0% Arup, Prudential As of 31 March 2015: 100% ANNUAL REPORT 2015/2016 25

Festival Walk’s Lease Expiry Profi le by Monthly GRI Demonstrates As of 31 March 2016 Percentage Consistently (%) 30 29.5 Strong 26.0 25.1 24

Performance 18 STRATEGY OVERVIEW in FY15/16 12

6 4.7 4.8 5.4 Festival Walk, positioned 2.0 1.7 0.8 as a shopping, dining and 0 FY16/17 FY17/18 FY18/19 FY19/20 FY20/21 lifestyle destination in and beyond Kowloon Tong, Hong Kong, No. of leases 111 75 63 7 10 continued to demonstrate Lease Expiry by % of GRI for Office Lease Expiry by % of GRI for Retail consistently strong Note: The lease expiry profi le is based on existing leases.

performance in FY15/16, PERFORMANCE Festival Walk’s Tenant Mix by GRI with gross revenue and As of 31 March 2016 NPI increasing by 14.6% and 15.5% respectively. Its % Apparel & Fashion Accessories 34.6 strategic location, excellent Food & Beverages 15.5 connectivity and diverse Personal Cosmetics 8.6 range of retail options Leisure & Entertainment 7.7 GOVERNANCE & SUSTAINABILITY FINANCIALS & OTHERS FINANCIALS & SUSTAINABILITY GOVERNANCE and amenities drew more Departmental Store & Supermarket 7.6 than 40 million shoppers, Houseware, Electronics & Furnishings 7.0 with tenant sales reaching Services 6.9 Professional & Business Services 5.8 HK$5,321 million in the year Luxury Jewellery, Watches & Accessories 4.5 ended 31 March 2016. Financial Institution/Insurance/ Banking/Real Estate 1.8

Retail Sales Footfall

(HK$ million) (Million)

6,000 5,619 50 5,321 41.7 40.4 3,000 25

0 0 FY14/15 FY15/16 FY14/15 FY15/16

heung R g C d un Car Park Lots Dynasty L Heights Meridian 830 Hill Beacon Heights One Beacon Building Completion Hill Beacon November 1998 Hill Rd One Mayfair Cornwall St Festival Junction Rd Hong Kong

Date of Purchase Waterloo Rd Baptist Tat Chee Ave Walk University City University 7 March 2013 of Hong Kong Somerset Rd Lok Fu Suffolk Rd Kowloon To Fuk Rd Government Lease Term/ Tong Land Use Right Expiry Norfolk Rd Sunderland York Rd Court 30 June 2047 To Yuen St Parc Hereford Rd Residential Oasis Village Garden University Number of Leases Nam Cheong St Tong Yam St Kwun Tong Line East Rail Line 266 Shek To Tsim Sha Tsui Kip Mei Fa Po St 26 MAPLETREE GREATER CHINA COMMERCIAL TRUST

PROPERTY PORTFOLIO

Festival Walk Hong Kong

Nike Basketball kate spade new york

J.LINDEBERG

fresh

An Nam Restaurant “Ted 2” Novelty Concept Store ANNUAL REPORT 2015/2016 27 VRIWSTRATEGY OVERVIEW PERFORMANCE

Zara Home GOVERNANCE & SUSTAINABILITY FINANCIALS & OTHERS FINANCIALS & SUSTAINABILITY GOVERNANCE

Seed Heritage NEW Nespresso CONCEPTS AND BRANDS

Ferrari Store Junior sen-ryo 28 MAPLETREE GREATER CHINA COMMERCIAL TRUST

PROPERTY PORTFOLIO

Festival Walk Hong Kong

“Canon Wonderland” event promotion.

The grand Christmas opening by international celebrity Tang Wei.

Football game on skates at the Glacier. The popular car shows were staple events at the mall.

Hunter, a tenant at Festival Walk, promoting its colourful range of rainboots. Ushering in the new year at Festival Walk. ANNUAL REPORT 2015/2016 29 VRIWSTRATEGY OVERVIEW PERFORMANCE

Many shoppers were attracted to the fi rst-ever Disney Tsum Tsum promotion held in Hong Kong. GOVERNANCE & SUSTAINABILITY FINANCIALS & OTHERS FINANCIALS & SUSTAINABILITY GOVERNANCE

GALORE Make-up demonstrations by tenants OF at the Pink Panther Poolside Party. EXCITING ACTIVITIES

“Sports Craze” event featuring an indoor rock Maiden exhibition of the life-size Batmobile in Hong Kong, at the climbing wall and the latest sportswear fashion. “BATMAN v SUPERMAN: Dawn of Justice” movie promotional event. PROPERTY PORTFOLIO

Gateway Plaza Beijing

GROSS REVENUE NET PROPERTY INCOME 18 Xiaguangli, Gross Floor Area3 FY15/16 FY15/16 East 3rd Ring Road 106,456 sqm North, Lufthansa Offi ce : 94,715 sqm S$82.3m S$73.7m Area, Beijing Podium : 11,741 sqm A premier Grade-A offi ce Lettable Area Market Valuation building, consisting of two Top 25-storey towers connected 106,456 sqm LOCAL CURRENCY/S$ Tenants by a three-storey podium area Offi ce : 94,715 sqm and three underground fl oors RMB5,930m OFFICE Podium : 11,741 sqm 1 (S$1,256 million) Anhui Yucheng , BMW, 2 CFLD , Changjiu Group, 1 Anhui Yucheng is no longer a tenant of WALE by Monthly GRI Cummins, Doosan, Gateway Plaza since 1 April 2016. 4 2 China Fortune Land Development (CFLD). Overall: 3.9 years Occupancy Rate John Deere, 3 Square metres (sqm) is the standard Offi ce : 3.4 years AS OF 31 MARCH 2016: SBC Business Service convention for area in China. 4 During the quarter, one of the largest Podium : 7.8 years PODIUM tenants of the portfolio (by gross rental 96.8% Bank of China, income) has committed a further fi ve-year term, which extended its lease from As of 31 March 2015: 98.0% Nanyang Commercial Bank FY17/18 to FY22/23. ANNUAL REPORT 2015/2016 31

Gateway Plaza’s Lease Expiry Profi le by Monthly GRI An Attractive As of 31 March 2016 Percentage Offi ce Location (%) in Beijing 48 47.4 42

Gateway Plaza, with its 36 STRATEGY OVERVIEW proximity to hotels, shopping 30 arcades, international schools, 24 embassies and residences 23.1 in the Lufthansa area, is an 18 attractive offi ce location 12 12.6 to multinationals and local 9.7 6 conglomerates. Tenants 4.3 0.8 1.3 0.7 continued to recognise 0 0.1 FY16/17 FY17/18 FY18/19 FY19/20 FY20/21 and beyond the building’s high quality PERFORMANCE specifi cations and well- No. of leases 28 27 17 3 10 managed property services, Lease Expiry by % of GRI for Office Lease Expiry by % of GRI for Podium leading to its high occupancy Note: The lease expiry profi le is based on existing leases. level of 96.8% as of 31 March 2016. During FY15/16, the Gateway Plaza’s Tenant Mix by GRI building’s podium area was As of 31 March 2016 GOVERNANCE & SUSTAINABILITY FINANCIALS & OTHERS FINANCIALS & SUSTAINABILITY GOVERNANCE improved following the completion of the asset % enhancement initiative Automobile 30.7 Financial Institution/Insurance/ which would feature more Banking/Real Estate 26.3 F&B outlets, better visibility Machinery/Equipment/Manufacturing 22.4 and accessibility. Professional & Business Services 8.7 Natural Resources 4.1 Services 3.1 Leisure & Entertainment 2.0 Pharmaceutical/Medical 1.6 Others 0.7 Food & Beverages 0.4

Sanyuanqiao Car Park Lots Shopping Centre 3rd Ring Rd 692 Hotel Embassy To Beijing Airport

Subway Line 10 Gateway Tianze Rd Building Completion Airport Express Plaza August 2005 Xiaoyun Rd

Airport Expressway Embassy of the Date of Purchase United States Embassy Embassy of of Japan Xiangheyuan Rd the Republic 7 March 2013 of Korea Embassy Xinyuan Rd Hilton of France Hotel Government Lease Term/ Land Use Right Expiry Shunyuan Rd Dongzhimen Outer Byway Westin Hotel Liangmaqiao RdFour Seasons Beijing Hotel 25 February 2053 Xindong Rd Liangmaqiao Kempinski Hotel Yansha Youyi Kunlun Hotel Shopping Centre Number of Leases Xinyuan S Rd 85 Landmark River To CBD Great Wall Sheraton Hotel PROPERTY PORTFOLIO

Sandhill Plaza Shanghai

GROSS REVENUE NET PROPERTY INCOME 2290 Zuchongzhi Gross Floor Area FY15/16 FY15/16 Road, Zhangjiang 83,801 sqm Hi-tech Park, S$17.8m S$16.5m Pudong New Area, Lettable Area Shanghai 63,284 sqm Market Valuation Top A premium business park Offi ce : 61,684 sqm LOCAL CURRENCY/S$ development comprising Amenities : 1,600 sqm Tenants one 20-storey tower, RMB1,950m seven blocks of 3-storey WALE by Monthly GRI (S$413 million) Analog Devices, buildings1 and two basement Overall: 1.7 years Axalta, Borouge, levels of car park Broadcom, Han Ting, Offi ce : 1.6 years Amenities : 3.8 years Occupancy Rate Hexagon, Shan Lin Finance, AS OF 31 MARCH 2016: Spreadtrum, 1 There are eight blocks of low-rise (three-storey) buildings within the Wincor Nixdorf, subject premises, of which one block is % Xin Wei Lai separately owned by a third party and 100.0 does not form part of the acquisition. ANNUAL REPORT 2015/2016 33

Sandhill Plaza’s Lease Expiry Profi le by Monthly GRI Positive As of 31 March 2016 Percentage Contribution (%) to Both Gross 48 42 42.6

Revenue and 36 STRATEGY OVERVIEW

NPI in FY15/16 30 29.5

24 The newest addition to MGCCT, Sandhill Plaza was an 18 17.8 accretive acquisition that had 12 contributed positively to both 6 4.7 the portfolio gross revenue 2.1 2.5 0 0.4 0.4 and NPI in FY15/16. Since its FY16/17 FY17/18 FY18/19 FY19/20 FY20/21 and beyond acquisition on 17 June 2015, PERFORMANCE the Manager had focused on No. of leases 23 20 15 6 3 establishing and refi ning the Lease Expiry by % of GRI for Office Lease Expiry by % of GRI for Amenities processes and procedures Note: The lease expiry profi le is based on existing leases. at Sandhill Plaza to ensure that the property operated Sandhill Plaza’s Tenant Mix by GRI effi ciently and remained As of 31 March 2016 GOVERNANCE & SUSTAINABILITY FINANCIALS & OTHERS FINANCIALS & SUSTAINABILITY GOVERNANCE well-maintained. As of end March 2016, Sandhill Plaza % had achieved full occupancy Machinery/Equipment/Manufacturing 57.0 and is expected to ride on the Information Technology 21.8 Financial Institution/Insurance/ growing decentralisation trend Banking/Real Estate 10.5 and benefi t from the resulting Leisure & Entertainment 4.4 rise in demand for business Renewable Energy 1.9 park space in Shanghai. Automobile 1.3 Food & Beverages 1.2 Pharmaceutical/Medical 1.2 Houseware, Electronics & Furnishings 0.5 Others 0.2

In n e r Puxi R Shanghai Ring Expressway in Car Park Lots g gpu River E an x Hu p re Lujiazui s 460 s w a Longdong Ave y Shanghai New Sandhill Building Completion International December 2012 Expo Centre Plaza Guanglan

d Road Date of Acquisition R Longyang

h t Road u o

S 17 June 2015

o

a

g

g n

a Middle Ring Expressway Pudong

Government Lease Term/ Y International Shanghai Chuannanfeng Highway Airport Land Use Right Expiry Outer Ring Expressway Disneyland 3 February 2060 Hulu Expressway Shanghai Airport Pudong Subway Line 2 International Number of Leases Airport 67 Shanghai Train