Shimao Property : Completion of Redemption of Senior Notes Due 2020

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No securities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. The Company does not intend to make any public offering of securities in the United States.

(Incorporated in the Cayman Islands with limited liability)

Reference is made to the announcement of Shimao Property Holdings Limited (the "Company") dated 6 January 2017 (the "Announcement") in relation to the Company informing the Trustee and holders of the 2020 Notes of its intention to redeem an aggregate principal amount of US$800,000,000 of all outstanding 2020 Notes on 6 February 2017. Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the Announcement.

The Company has redeemed an aggregate principal amount of US$800,000,000 of all outstanding 2020 Notes on the Redemption Date (the "Redemption") at the Redemption Price equal to 103.3125% of the principal amount thereof, being US$826,500,000, plus accrued and unpaid interest of US$3,238,880 to the Redemption Date. The total Redemption Price paid by the Company on the Redemption Date is US$829,738,880.

The Company considers that there will be no material impact on its financial position as a result of the Redemption. Upon completion of the Redemption, the 2020 Notes will be cancelled and delisted from the official list of Singapore Exchange Securities Trading Limited.

On behalf of the Board

Chairman

Hong Kong, 6 February 2017

As at the date of this announcement, the board of directors of the Company comprises five executive directors, namely, Mr. Hui Wing Mau (Chairman), Mr. Hui Sai Tan, Jason (Vice Chairman), Ms. Tang Fei, Mr. Liao Lujiang and Mr. Kan Naigui; one non-executive director, namely, Mr. Liu Sai Fei; and three independent non-executive directors, namely, Ms. Kan Lai Kuen, Alice, Mr. Lu Hong Bing and Mr. Lam Ching Kam.