Investor Presentation 2008 Contents
Page Group structure 3 Business model 4 2008 Final results summary 5 - 7 Business in Hong Kong Property development business 8 - 11 Property investment business 12 - 13 Business in mainland China Property development business 14 - 18 Property investment business 19 - 20 Strategic investments 21 Market outlook 22 - 23 Appendix – project showcase 25 - 40 Investor contact 42
-2 - Group structure
Dr. Lee Shau Kee and/or his family trust
53.41%
Henderson Land Development Company Limited (“HLD”)
31.36% 67.94% 39.06% 44.21% Hong Kong Ferry Henderson The Hong Kong and Miramar Hotel (Holdings) Investment China Gas and Investment Company Limited Company Limited Company, Limited Limited Property Production & distribution of development Infrastructure Property investment, hotel gas in HK & mainland China & investment operation & travel business 45.63% Towngas China Effective interest in listed associates Company Limited Before After reorganization reorganization Sale & distribution of HK Ferry 21.31% 31.36% LP gas & natural gas in mainland China HKCG 26.54% 39.06% Company & subsidiary Miramar 30.04% 44.21% Associates
-3 - Business model
Mainland China
Property Property Strategic investment development investments business business
Hong Kong
-4 - 2008 Final results summary
2008 2007 Note Change HK$ million HK$ million
Property sales - Revenue 1 11,163 7,895 41% - Profit contribution 2 4,385 3,825 15%
Net rental income 3 2,728 2,381 15%
Profit attributable to Shareholders - Reported profit 15,472 9,818 58% - Underlying profit 4 5,707 5,883 3% - Adjusted underlying profit 5 5,707 4,945 15%
HK$ HK$ Earnings per share - Based on reported profit 7.54 5.19 45% - Based on underlying profit 4 2.78 3.11 11% - Based on adjusted underlying profit 5 2.78 2.61 7%
Dividends per share 1.10 1.10 -
Net asset value per share 6 56.46 47.47 19% Adjusted net asset value per share 7 60.05 50.94 18%
7 percentage Net debt to shareholder’s equity 16.5% 9.5% points
-5 - 2008 Final results summary
Notes:
1) Representing the Group’s attributable share of the value of properties in Hong Kong and mainland China sold by subsidiaries, associates and jointly controlled entities (“JCEs”)
2) Including the Group’s attributable share of profit contribution from property sales in Hong Kong and mainland China by associates and JCEs
3) Including the Group’s attributable share of net rental income from investment properties in Hong Kong and mainland China held by associates and JCEs
4) Excluding the surplus on revaluation (net of deferred tax) of the investment properties held by subsidiaries, associates and JCEs
5) After excluding the non-recurrent income included in the results for the year ended 30 June 2007 totalling HK$938 million made up of the excess, amounting to HK$352 million, of the fair values of net assets comprised in the companies acquired from Henderson Investment Limited during that year over the consideration paid, and the Group’s share of gain of HK$586 million arising from the disposal by an associate of ten piped city-gas joint venture projects
6) Representing amount attributable to equity shareholders of the Company
7) As there is no capital gains tax in Hong Kong, total deferred tax liabilities arising from the revaluation of the investment properties held by subsidiaries, associates and JCEs in the amount of HK$7,710 million (2007: HK$6,750 million), equivalent to HK$3.59 per share (2007: HK$3.47 per share), as provided for and included in the Group’s consolidated balance sheet would not be payable if these investment properties were to be sold at the revalued amounts under the current tax regime. Accordingly, such deferred tax as provided under HKAS-INT 21 has been excluded from the above calculation in order to provide a better understanding of the net asset value attributable to equity shareholders of the Company
-6 - 2008 Final results summary
Highlights 9 Steady increase of 15% in profit contribution from property sale
- Revenue growth in Hong Kong and mainland China were 25% and 100% respectively - Major contributors (residential projects):
Hong Kong Mainland China The Beverly Hills (Phase 1), King’s Park Hill, Grand Waterfront, Hengli Bayview, Guangzhou Grand Promenade, The Sherwood, Centre Stage, Centre Place and Royal Green - A non-residential project in Hong Kong, Midas Plaza, was completely sold out within 4 months after its launch in August 2007
9 Higher contribution from net rental income ( 15%)
Hong Kong Mainland China Gross rental income 10% 33% Net rental income 11% 99%
9 Satisfactory performance in the adjusted underlying profit attributable to shareholders ( 15%)
9 Low level of gearing at 16.5%
9 Net asset value per share increased 19% to HK$56.5 per share while adjusted net asset value per share grew by 18% to HK$60.1 per share
-7 - Business in Hong Kong
Property development business Land bank
At 30 June 2008 At 30 June 2007 Note Million square feet Million square feet Attributable floor area Attributable floor area Major additions
Sha Tin Town Lot 539 Properties held for/under development 1 8.4 11.5 39 Conduit Road Completed investment properties 2 10.0 9.6 18.4 21.1 Major additions Total land area Total land area Kwun Tong 223 Agricultural land 34.0 31.7
Notes: 1) Including stock of unsold property units in Hong Kong with attributable floor area of 1.0 million sq. ft. as at 30 June 2008 (2.8 million sq.ft. as at 30 June 2007) 2) Including Hong Kong hotel properties with attributable floor area of 1.0 million sq. ft. as at 30 June 2007 and 30 June Agricultural land 2008
9.0M sq. ft. 1.0M sq. ft. 34.0M sq. ft.
Hotel Completed properties Properties held for / investment under development properties Stock
1.0M sq. ft. 7.4M sq. ft.
18.4M sq. ft.
-8 - Business in Hong Kong
Land bank (Continued)
9 Acquisition of development projects: Sha Tin Town Lot 539 and 39 Conduit Road
Sha Tin Town Lot No. 539 No. 39 Conduit Road
Ownership 100% 60% Total: 229,255 sq. ft. GFA Total and attributable : 358,048 sq. ft. Attributable: 137,553 sq. ft. Two blocks of 33-storey residential towers A single block of 46-storey residential building, together with four blocks of low-rise residential Project description providing 66 residential units, parking spaces and buildings and ancillary parking spaces and clubhouse facilities other facilities
Note: There is a guarantee by the vendor which provides that, for each of the developments, upon the expiry of two years from the date that the occupation permit for the development is issued, the gross sale price of the units sold together with the value of the unsold units at such date shall be not less than a sum representing a 25% premium over the discounted development value
9 Acquisition of agricultural land with high development potential
- About 2.3 million sq. ft. of agricultural land in site area was acquired during the year
- The Group also held approximately 2.6 million sq. ft. and 2.3 million sq. ft. of agricultural land lots in Fanling/Kwu Tung North and Hung Shui Kiu, which were designated by the Government as New Development Areas in the Chief Executive’s Policy Address and the Hong Kong 2030 Study in October 2007
-9 - Business in Hong Kong
Land bank (Continued)
9 Encouraging progress made in land-use conversion
Approximate Proposed Land site Ownership Latest progress attributable usage GFA (sq. ft.)
24 Lee Chung Street, Chai Wan 100% 173,000 Office - Land premium for land use conversion has been finalized with the Government - Demolition of the existing industrial building on the site is in progress
8 Wang Kwong Road, Kowloon Bay 100% 258,000 Office / Hotel - Pursuing land-use conversion
19-21 Wong Chuk Hang Road, Aberdeen 50% 107,000 Office - Pursuing land-use conversion
Wu Kai Sha, Sha Tin 53.75% 1,600,000 Residential - Basic terms for land exchange have been agreed with the Government - Conversion will be completed upon finalization of the land premium
Tai Tong Road, Yuen Long 79.03% 900,000 Residential - Basic terms for land exchange have been agreed with the Government - Conversion will be completed upon finalization of the land premium
Chuk Yuen Tsuen, Yuen Long 100% 28,000 Residential - Conversion of land has been approved by the Government (next to Fairview Park) - Land premium is currently under negotiation
Wo Shang Wai. Yuen Long 100% 890,000 Low-density - Environmental impact assessment has been approved and environmental (Next to Royal Palms) residential permits have been obtained from the Director of Environmental Protection - Application has been made to the Town Planning Board for the necessary approval before negotiating with the Government for land exchange and land conversion premium
Yau Tong Bay 19.013% 800,000 Residential - The Town Planning Board completed its review on the Yau Tong Bay “Comprehensive Development Area” zone and amended the Outline Zoning Plan - The Group will proceed to apply for land exchanges and finalization of the land premium - A master layout plan will also be drafted for the redevelopment of the old shipyard sites there
-10 - Business in Hong Kong
Residential units available for sale
No. of units unsold Gross area of & pending sale unsold units as at year end (sq. ft.)
Major development projects offered for sale 404 860,206 Gross area attributable to the Group: 781,024 Projects pending sale or pre-sale 1,030 1,488,085 Gross area attributable to the Group: 1,335,643 Total saleable residential units and total residential gross area from the major 1,434 2,348,291 development projects Total gross area attributable to the Group: 2,116,667
Market response on pre-sale 9 The Sparkle Approximately 80% of the total of 400 residential units were pre-sold by the year end
Upcoming projects to be launched
The Beverly Hills (Phase 3), Nos. 11-12 Headland Road, No. 33 Lai Chi Kok Road, No. 39 Conduit Road, Tong Residential: Yan San Tsuen, Sha Tin Town Lot 539 and Fanling Sheung Shui Town Lot 231
Non-residential: Win Plaza and 52 Hung To Road
-11 - Business in Hong Kong
Property investment business
Investment properties portfolio in Hong Kong
0.6M sq. ft. 0.8M sq. ft. 7% 9% 25% 4.4M sq. ft. 45% 3.2M sq. ft. 48% 30% 36%
Commercial Office I/O Residential & Apartment Hong Kong Kowloon New Territories
9 Leasing rate remained high at 94% for the Group’s core rental properties (which excluded Kwun Tong 223 as it was only just completed)
Investment property Leasing rate Commercial IFC Mall, Central Almost fully let - Metro City Phases II & III, Tseung Kwan O - Sunshine City Plaza, Ma On Shan - City Landmark I & II, Tsuen Wan 97% or above - Citimall, Yuen Long - Flora Plaza, Fanling - Shatin Plaza & Shatin Centre, Sha Tin Office One & Two IFC, Central Almost fully let AIA Tower, North Point 95% Golden Centre, Sheung Wan 96%
-12 - Business in Hong Kong
9 High reversionary potential resulted from new lettings and leases renewals
- Particularly for IFC Complex due to its unique position and limited office supply in Central
9 Value enhancement thru face-lift, facility upgrade and renovation of retail malls and office building
Examples: - Conversion of cinema into additional retail space of Trend Plaza, Tuen Mun - Development of Metro City, Tseung Kwan O into a regional shopping and entertainment hub - A major renovation of Kowloon Building on Nathan Road
9 More tenants were secured for Kwun Tong 223
- A big 4 accounting firm has leased an area of up to about 100,000 sq. ft. and has started moving in
- An international shipping company has leased an area of over 60,000 sq. ft.
- Some other multinational corporations have also signed the leasing confirmation
-13 - Business in mainland China
Property development business Land bank A “Two-pronged” strategy
Attributable GFA
7 1 Beijing 2.1 Prime cities: 1 2 Shanghai 2.3 20.1 million sq. ft. 3 Guangzhou 15.7 4 Changsha, Hunan 12.7 9 10 5 Chongqing 6.6 6 2 2.4 8 6 Nanjing, Jiangsu 11 7 Shenyang, Liaoning 21.2 5 2nd-tier cities: 4 8 Suzhou, Jiangsu 17.0 95.6 million sq. ft. 9 Xian, Shaanxi 20.7 10 Xuzhou, Jiangsu 5.3 3 11 Yixing, Jiangsu 9.7 TOTAL at June 2008 115.7 TOTAL at 31 August 2007* 101.5
* As disclosed in our 2007 annual report
-14 - Business in mainland China
Land bank (Continued)
9 Major acquisitions since September 2007 to the year end
Accommodation value Attributable GFA Project Ownership Land use (RMB/sq. ft.) (M sq. ft.) Donggui New District, Yixing 100% Residential 113 9.0 Qixia District, Nanjing 90.1% Residential 620 0.8 Gaoling area, Changsha 55% Residential 60 3.2 Xiangcheng District, Suzhou 100% Commercial 77 2.0 Xianlin New District, Nanjing 100% Residential 353 1.7 Total 16.7
Note: Shortly after the end of the financial year, the Group entered into a joint venture agreement with Sun Hung Kai Properties and Wharf on a 30:40:30 ownership basis to jointly develop a composite development of approximately 1,860,000 sq. ft. in Dongda Avenue in Chengdu, the capital city of Sichuan Province. There is an adjoining site of approximately 350,000 sq. ft. which will be sold to the project company at the same unit price at a later stage. Upon completion, a total gross floor area of over 13,000,000 sq. ft. will be provided
-15 - Business in mainland China
Land bank (Continued) 9 Predominance of residential project for sale, supplemented by retail space & office for rental
Breakdown of land usage
11% 2%
9%
78%
Residential development for sale Commer c ial Office Clubhouse & other communal use
9 Reasonable level of land premium and limited level of outstanding amount
- The outstanding balance as at 30 June 2008 was RMB1,379 million
-16 - Business in mainland China
Schedule of completion
Group’s share of Project name and location developable gross floor area (million square feet)* For the year ending 30 June 2009 World Financial Centre, Chao Yang District, Beijing 2.1 2.1 million sq. ft. For the year ending 30 June 2010 Lot 155, Nanjing Road East, Huangpu District, Shanghai 0.7 130-2 Tianmu Road West, Zhabei District, Shanghai 0.4 Phase 1, The Champion Arch, Xingsha Town, Changsha 1.4 Part of Phase 1, Project in Erlang Phoenix Area, Chongqing 0.3 4.8 million sq. ft. Phase 1, residential project in Xiangcheng District, Suzhou 0.7 Part of Phase 1, Xuzhou Lakeview Development, Xuzhou 0.5 Phase 1, Project in Donggui New District, Yixing 0.8 For the year ending 30 June 2011 Lot 688, Nanjing Road West, Jingan District, Shanghai 0.7
147 Tianmu Road West, Zhabei District, Shanghai 0.4
Phase 2, The Champion Arch, Xingsha Town, Changsha 1.0 Part of Phase 1 & Phase 2, Project in Erlang Phoenix Area, Chongqing 1.0 Phase 1, Nan’an District Riverside Development, Chongqing 0.8 Phase 2, residential project in Xiangcheng District, Suzhou 1.4 Part of Phase 1, project in Qixia District, Nanjing 0.4 14.2 million sq. ft. Part of Phase 1, project in Xianlin New District, Nanjing 0.4 Part of Phase 1 & Phase 2, Xuzhou Lakeview Development, Xuzhou 1.0 Phase 1, La Botanica, Chan River, Xian 1.2 Project in Second Ring Road East, Xian 4.2 Phase 2, Project in Donggui New District, Yixing 1.0 Project in an island of Yicheng, Yixing 0.7 *Excluding basement areas and carparks
-17 - Business in mainland China
Property sale and pre-sale
9 Planned sale - About 11% out of a total of 2,090 units of Hengli Bayview in Guangzhou remaining available for sale by the year end - These units are to be launched in 3rd quarter of 2008
9 Schedule of pre-sale
Group’s share of Expected time for developable GFA pre-sale (Million sq. ft.) For the calendar year 2008 Phase 1, La Botanica, Xian 4th quarter, 2008 1.2 (Referring to Xian Chanhe East Development) 1.2 For the calendar year 2009 Project in Second Ring Road East, Xian 1st/2nd quarter, 2009 4.2 Phase 1, Xuzhou Lakeview Development, Xuzhou New Town 2nd quarter, 2009 0.5 Phase 1, Residential Project in Xiangcheng District, Suzhou Mid-2009 0.7 Project in an island of Yicheng, Yixing Mid-2009 0.7 Phase I, Project in Donggui New District, Yixing 3rd quarter, 2009 0.8 6.9
-18 - Business in mainland China
Property investment business
Group’s share of developable Project name and location Group’s interest gross floor area (million square feet) Commercial Podium & Car Parks Henderson Centre, Beijing 100 1.1 Skycity, Shanghai 75 0.3 Hengbao Plaza, Guangzhou 100 1.0 Sub-total 2.4 Office Office Tower II, Grand Gateway, Shanghai 100 0.7 Sub-total 0.7 Total 3.1
Upcoming addition Existing portfolio
2.1million sq. ft. 2.4 million sq. ft. 40% 47%
0.7 million sq. ft. 13%
Commercial Office World Financial Centre
-19 - Business in mainland China
9 Satisfactory leasing performance
- Grand Gateway Tower II in Shanghai was over 98% let by the year end, with close to 30% rental increase on lease renewal and new lettings
- Shanghai Skycity commanded over 100% rise in rental for a new letting to an anchor tenant occupying almost the entire shopping arcade
- Hengbao Plaza in Guangzhou recorded a 57% growth for its monthly rental income in June 2008 compared with June 2007
9 Commencement of pre-leasing for World Financial Centre
- Completion is scheduled in the 4th quarter of 2008
- Commitment of a renowned multinational corporation has been secured
- Negotiations with a host of top-notch international financial services groups and professional firms are near the final stage
-20 - Strategic investments
The Hong Kong and China Gas Company Limited Towngas China Company Limited Profits attributable to shareholders & dividends paid 10,000 HK$M 9,000 9,270 9 A combined total of 80 projects, spread across 8,000 17 provinces/municipalities, encompassing natural gas 7,000 6,000 sectors, the water supply and wastewater treatment 5,863 5,000 5,281
sector and natural gas filling stations in mainland China. 4,000
3,000 3,287 9 Interim dividend for 2008 attributable to HLD amounted 2,524 2,000 1,967 1,936 1,928 2,121 to HK$312M . 1,000 800 0 2004 2005 2006 2007 1H2008
Hong Kong Ferry (Holdings) Company Limited
9 Principally engaged in property development and property investment businesses. 9 Dividend for the year of 2007 amounted to HK$128M (out of which HK$40M were attributable to HLD).
Miramar Hotel and Investment Company, Limited
9 Activities include: Hotel ownership and operation, property business, restaurants operation & travel services. 9 Profit attributable to shareholders 14% for the year ended 31 March 2008. 9 Dividend for the year of 2008 amounted to HK$225M (out of which HK$99M were attributable to HLD).
-21 - Market outlook
Hong Kong 9 HK property market has shown a moderate consolidation after experiencing a price rally in the run-up from the 4th quarter to early 2008. However, the prevailing low mortgage rate, reasonable affordability and the low completion volumes for private residential units in the coming few years should lend support to the local residential property market.
Sources: Transport and Housing Bureau, Rating and Valuation Department, The Land Registry
9 The local property leasing market is expected to perform steadily in the year ahead. The recent announcement by a multinational retail giant to set up its regional headquarters in Hong Kong is testimony to the territory as the preferred venue from which leading global companies manage their businesses in mainland China and elsewhere in Asia.
-22 - Market outlook
Mainland China
9 The macroeconomic policies announced by the Central Government in late 2007 are to curb speculation in mainland and stabilize housing prices.
9 The Group’s residential property development projects in mainland China are all located in the 2nd- tier cities. Due to a much moderate rise in property price in the past, 2nd-tier cities are found relatively less affected by the austerity policies.
9 For 2nd-tier cities that are located in the high-growth and populous provincial capitals and municipalities with strong purchasing power, demand for quality housing is still intact, particularly given the trend of growing urbanization.
9 Rentals from office and commercial properties, which largely increase in line with economic growth, will have relatively low exposure to austerity risk.
-23 - AppendixAppendix
-24 - Project showcase - Hong Kong
The Beverly Hills, Tai Po (Ownership: 90.1%)
Location Tai Po, New Territories
Attributable GFA 1,049,881 sq. ft.
Residential units 535
Expected completion Oct 2008 (Phase 3)
Luxury sea view villa with 5-level grand Features clubhouse & >1.8Msq. ft. greenery & recreation area
-25 - Project showcase - Hong Kong
International Finance Centre Complex (Ownership: 40.38%)
Location Central, Hong Kong Office: 764,308sq. ft. Attributable GFA Commercial: 258,443sq. ft. Serviced suite: 214,035sq. ft.
• International grade A offices located at the heart of Central Features • Shopping malls fully let • Four Seasons Hotel/Suite hotel Four Seasons Place – most sought after of their kind
-26 - Project showcase - Hong Kong
Kwun Tong 223, Kwun Tong (88.5%)
Location Kwun Tong, Kowloon
• Road infrastructure: Kwun Tong Transportation bypass & Tseung Kwan O Road •MTR 966,864sq. ft. Attributable GFA (Office: 95%, Commercial: 5%)
Date of End of 2007 completion
Two grade-A office towers with advanced intelligent automation, a Features retail podium, 130,000sq. ft. club & conference facilities Typical floor: ~30,000sq. ft. Floor size Link floor: ~62,000sq. ft.
Target Back office of banks, logistics tenants companies & mid cap companies
-27 - Project showcase - mainland China
World Financial Centre, Beijing (Ownership: 100%)
Location Located at the intersection of East 3rd Ring Road and Chaoyang Road, bordering south of Chaoyang Road and west of East 3rd Ring Road Attributable GFA 2,100,000sq. ft. (excluding an area of basement of 600,000sq. ft. - 1, 278 car parking spaces) Features Two identical 22-storey international grade A office complex with trading floors designed by Cesar Pelli Floor size Approximately 48,000sq. ft. (the largest in Beijing) Target tenants MNCs, Investment banks & large CPA & law firms Expected completion 4th quarter, 2008
-28 - Project showcase - mainland China
World Financial Centre, Beijing (Ownership: 100%)
China World Hotel 中國大飯店 CCTV Building 中國中央電視台
CHAOYANG ROAD 朝陽路
EAST 3RD RING ROAD 東三環路 Jing Guang Centre 京港中心
-29 - Project showcase - mainland China
Nanjing Road, Shanghai (Ownership: 100%)
Lot 688, Lot 155, Nanjing Rd W. Nanjing Rd E.
• In Huangpu District • Right on the pedestrian shopping Downtown of Jingan Location avenue District • Interchange point of two subways at its basement
700,000sq. ft. 700,000sq. ft. (excluding Attributable (excluding an area an area of basement of GFA of basement of ~300,000sq. ft.) 200,000sq. ft.)
Usage Office & retail space held for rental purpose
A Grade A office A 22-storey office building and shopping Features tower plus a 2-level arcade with a 17-storey retail podium tower over five levels of podium
Designer Kenzo Tange Associates
Expected 2011 Late 2009 completion
-30 - Project showcase - mainland China
DevelopmentNanjing Road, project Shanghai showcase (Ownership: – Nanjing 100%) Road, Shanghai Lot 688, Lot 155, Nanjing Rd W. Nanjing Rd E. • In Huangpu District • Right on the pedestrian shopping Downtown of Location avenue Jingan District • Interchange point of two subways at its basement 700,000 sq ft 700,000 sq ft (excluding an area (excluding an area of Total GFA of basement of basement of 200,000 sq ft) ~300,000Nanjing sq Roadft) East Usage Office & retail space held for rental purpose Designer Kenzo Tange Associates Expected Late 2009 completion Current Nanjing Road West price for Office: Office: comparable US$36+/sq m US$28+/sq m units (Note)
-31 - Project showcase - mainland China
Tianmu Road, Shanghai (Ownership: 100%)
130-2 Tianmu Rd W. 147 Tianmu Rd W.
• At the junction of two main roads • Right next to railway & subway stations Location • Zhabei District • Zhabei District
400,000sq. ft. (excluding an area of basement 400,000sq. ft. Attributable GFA of ~100,000sq. ft.) (excluding a 2-storey basement) Usage Office & retail space Expected completion Mid-2009 to early 2011
-32 - Project showcase - mainland China
Hengli Bayview, Guangzhou (Ownership: 80%)
Location Li Wan District Total: 2,100,000sq. ft. GFA Attributable: 1,700,000sq. ft.
9 residential towers of 33-34 storeys, a 2-level Features commercial podium, 2-level car park basement & a kindergarten
Target buyers Middle to high income families Completion February 2008 Residential units pre-sold About 89%
Average price of its latest phase RMB11,000 per sq. m. of development
-33 - Project showcase - mainland China
Shenyang International Finance Centre (Ownership: 100%)
• Downtown of Shenyang Finance & Trade Development Zone with direct connections at basement to Metro & North Railway Station Location • Shenyang is the economic, industrial and commercial hub of North East China with a number of manufacturing facilities set up by international corporations (such as BMW, Cessna, Boeing & Yuanda)
Attributable GFA 5,700,000sq. ft.
• The landmark tower is the first international grade A office building in North East China • It is the tallest in North East China & one of the Top 10 tallest in the world • A totally integrated development with: - 89-storey landmark office tower (~3,000,000sq. ft.) Features - 40-storey hotel (~1,000,000sq. ft.) - 40-storey services apartments (~1,000,000sq. ft.) - 4-storey retail entertainment mall (~600,000sq. ft.) • World class design team - Design architect: Pei Partnership - Project architect: Adeas
Land cost RMB616M (RMB108 per sq. ft. or RMB1,176 per sq. m.)
Ground breaking May 2008
Expected 2012 completion
-34 - -35 - -35 e Centre (Ownership: 100%) 省政府
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A comparison between Hong Kong IFC & Shenyang IFC
Project Hong Kong IFC Shenyang IFC
Retail GFA ~600,000sq. ft. ~600,000sq. ft. Office GFA ~2,800,000sq. ft. ~3,000,000sq. ft. Hotel & serviced apartment GFA ~1,100,000sq. tt. ~2,100,000sq. ft. Total GFA ~4,500,000sq. ft. ~5,700,000sq. ft. Height of landmark tower 420m 427m No. of floors of landmark tower 88 89 Approximate floor area per floor ~31,000sq. ft. ~33,000sq. ft. Approximate lettable area per floor ~23,000sq. ft. ~27,000sq. ft. No. of trading floor 22 18 Floor-to-floor height Typical: 4.17m; Trading: 4.85m Typical: 4.2m; Trading: 5.6m
Clear ceiling height Typical: 2.7m; Trading: 3.3m Typical: 2.8m; Trading: 4m Raised floor Typical: 0.19m; Trading: 0.34m Typical: 0.2m; Trading: 0.3m Executive facilities provided Executive toilet with shower, VIP lifts & etc Security provisions Octopus Card access system, 24 hours back Card access system, Digital CCTV up central control room, Digital CCTV System System Air-conditioning VAV system Power supply Very reliable dual source power supply, back up generators No. of rooms Hotel: 399; Serviced apartment: 519 Hotel: 909; Serviced apartment: 600 No. of car parks 1,800 3,000 Connections to Metro Direct connection at basement level
-36 - Project showcase - mainland China
La Botanica, Chan River, Xian (Ownership: 50%)
Location Chan Ba Ecological District, eastside riverbank of Chan River, Xian
Total: 33,000,000sq. ft. GFA Attributable: 16,800,000sq. ft.
RMB1,720M Land cost (Accommodation value: RMB52 per sq. ft. or RMB560 per sq. m.)
• 50/50 JV with Temasek, Singapore Features • Homes for 30,000 families plus a cultural centre integrated with full facilities like school, hospital & retail precinct
Expected completion 2016 (Phase 1: of 1.2M sq. ft. in 2010)
-37 - Project showcase - mainland China
The Champion Arch, Changsha (Ownership: 91%)
Location Xingsha Town, Changsha Total: 7,800,000sq. ft. (excluding a basement area of 1,400,000sq. ft.) GFA Attributable: 7,100,000sq. ft. Land cost RMB198M (Accommodation value: RMB28 per sq. ft. or RMB305 per sq. m.)
Homes for >4,000 families in low-rise, multi-storey and high-rise apartments complemented by a clubhouse, a Features shopping arcade and a kindergarten
Expected completion Late 2009 (Phase 1 of residential GFA amounted to 1.4M sq. ft.)
-38 - Project showcase - mainland China
The Xiangcheng District, Suzhou (Onwership: 100%)
• Xiangcheng, Suzhou • Along the city’s main thoroughfare of Renmin Road North Extension, which upon its due completion by the end of Location 2008. • The City’s planned subway line also runs along Renmin Road and is expected to be operational by 2012. Residential: ~7,500,000sq. ft. Retail : ~6,000,000sq. ft. Attributable GFA Office : ~3,400,000sq. ft. Others* : 50,000sq. ft.
RMB1,687M Land cost (Accommodation value: RMB99 per sq. ft. or RMB1,082 per sq. m.)
• A large-scale self-contained community • Water-themed design with a mixture of villas, resorts and Features apartment towers • Landmark in the region easily accessible by trunk roads and railway systems In four phases from the 2nd quarter of Expected 2010 onwards completion (Phase 1: about 0.7M sq. ft.)
* Including clubhouse, schools and community facilities
-39 - Project showcase - mainland China
More… (A) (B) (C) (D)
(A) (B) (C) (D) Nan’an District Erlang Phoenix Area, Xuzhou, Jiangsu Island of Yicheng Chongqing Chongqing
Ownership 100% 100% 100% 100% One of the six districts at city Just off Chengdu-Chongqing New administration centre of Location Central Yixing, Jiangsu centre Expressway Xuzhou Residential: 4,700,000sq. ft. Attributable GFA 3,750,000sq. ft. 2,800,000sq. ft. 700,000sq. ft. Commercial: 600,000sq. ft.
Features Luxury riverside/lakeside residential development with shopping centre, kindergarten & clubhouse
RMB310M (RMB78per sq. ft. RMB157M (RMB56per sq. ft. RMB541M (RMB102per sq. ft. RMB158M (RMB226per sq. ft. Land cost or RMB830per sq. m.) or RMB600per sq. m.) or RMB1,100per sq. m.) or RMB2,430per sq. m.)
Expected completion 4th quarter, 2010 (Phase 1) 1st quarter, 2010 (Phase 1) 2nd quarter, 2010 (Phase 1) August 2010
-40 - THANKTHANK YOUYOU
-41 - Hong Kong Head Office Address: 72-76/F, Two International Finance Centre 8 Finance Street, Central Hong Kong Telephone: (852) 2908 8888 Fax: (852) 2908 8838 Website: www.hld.com
Investor contact:
Mr Alexander Au Mr Terence Kwok Executive Director & Finance Manager Chief Financial Officer Direct line: (852) 2908 8734 Direct line: (852) 2908 8388 Email: [email protected] Email: [email protected]
-42 -