Hang Lung Properties Breaks Ground for Landmark Complex in Kunming - Spring City 66

(Hong Kong, November 28, 2012) Hang Lung Properties Limited (HKSE stock code: 101) held the official groundbreaking ceremony today for Spring City 66, the latest landmark development in the Company's Mainland portfolio and located in the heart of Kunming, capital of Yunnan Province.

Situated on Dongfeng Dong Lu in Kunming's busy Panlong District, the project marks a major milestone in the Company's entry into mainland China's southwest region.

The groundbreaking ceremony was hosted by Mr Ronnie C. Chan, Chairman, and Mr Philip N.L. Chen, Managing Director, of Hang Lung Properties Limited, and was attended by Mr Tian Yunxiang, Chairman of the Chinese People's Political Consultative Conference of Kunming Municipality; Mr Huang Yunbo, Member of the Standing Committee of the CPC Kunming Municipal Committee and Standing Vice Mayor of Kunming Municipal Government; Mr Tian Ling, Vice Chairman of the Standing Committee of the National People Congress of Kunming Municipality; as well as officials from various governmental bodies.

Mr Chan said at the ceremony, "Kunming has long been the economic center of southwest China, leveraging its strategic location and offering enormous potential in the commercial property sphere. Hang Lung Properties is honored to be able to participate in the opportunities presented in this city. Our strategic presence in Kunming is a perfect fit for us as we continue our expansion nationwide. It not only opens up a new growth chapter in the southwest region in our Mainland operations, it also marks an exciting phase in Hang Lung's transformation into a leading national commercial property developer running multi-city operations. This nationwide development will broaden and speed up as further projects, all bearing the hallmarks of our renowned '66' brand, come on line over the next few years."

Mr Chan added, "Spring City 66, in light of its size and scale, is poised to become one of Kunming's most striking landmarks upon completion. The project is expected to help accelerate the economic development of Kunming while simultaneously benefitting from the Mainland government's 'Open up the West' initiative, resulting in a sustainable win-win situation."

In line with the "Hang Lung Model" the Company upholds, Spring City 66 is centrally located in the business and commercial heart of Kunming, and is sited in the core area of the central business district (CBD) now being planned. Located where the municipal building of the Kunming government was originally erected, Spring City 66 is ideally positioned, stretching from the intersection of Dongfeng Dong Lu to the north and Beijing Lu to the west, the two leading commercial avenues and main thoroughfares in the city. The Metro lines 2 and 3, now under construction, will run along Beijing Lu and Dongfeng Dong Lu respectively, offering direct access to Spring City 66 and attracting further traffic flows to the complex.

The prime 56,000 square-meter site will be developed into a world-class shopping center, with a Grade A office tower and serviced apartments. The office block is planned to be more than 300 meters in height and set to be an iconic city landmark.  Due for completion in phases from 2018, Spring City 66 will eventually have an impressive total gross floor area of 401,000 square meters.

As well as boosting the local economy, Spring City 66 will create a variety of attractive career opportunities with its vibrant leasing, property management operations and its vigorous marketing and event promotion activities. It is also destined to be a shining attraction in the center of the city, bringing a whole new lifestyle concept for the Kunming community and the surrounding neighborhood.

As a premium property developer fully committed to attaining the highest international standards, all of Hang Lung Properties' projects on the Mainland eye as the ultimate target the gold rating certification under the Leadership in Energy and Environmental Design (LEED) for Core and Shell Development issued by the U.S. Green Building Council. With its cutting edge sustainability features, Spring City 66 will serve as another model of environmentally friendly design in Hang Lung Properties' burgeoning portfolio.

About Hang Lung Properties
Hang Lung Properties Limited, a constituent stock of the Hang Seng Index and Hang Seng Corporate Sustainability Indices in Hong Kong, is a leading real estate developer in Hong Kong and mainland China. Boasting a diversified portfolio of investment properties in Hong Kong, the Company has progressively branched out into the Mainland since the 1990s, building, owning and managing world-class commercial complexes in key cities that have earned international acclaim for their exceptional quality of architectural design, services and sustainable features.

Riding on the immense success of its two landmark properties in Shanghai, Plaza 66 and Grand Gateway 66, the Company's footprint has expanded to Shenyang, Jinan, Wuxi, Tianjin, Dalian and Kunming, with all its Mainland projects carrying the "66" brand. Subsequent to the grand openings of Palace 66 in Shenyang and Parc 66 in Jinan in the past two years, Forum 66, another world-class investment property in Shenyang, came into being this September. As Hang Lung's business continues to grow, the Company is set to develop into the most admired mega national commercial property enterprise in the market.

Media contact:
Athena Tai
Manager - Corporate Communications
AthenaTai@hanglung.com

Elisa Fong
Assistant Manager - Corporate Communications
ElisaFong@hanglung.com

Download Photos:
Spring City 66's groundbreaking ceremony in Kunming was hosted by
Mr Ronnie C. Chan, Chairman, and Mr Philip N. L. Chen, Managing Director, of Hang Lung Properties Limited, and attended by government officials of the Kunming Municipality and Panlong District.
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