We are currently busy developing a strong and diverse Pioneering Sustainable pipeline of four residential projects on Hong Kong island. Development Practices “LA MONTAGNE” at The Southside in Wong Chuk Hang was launched for sale in 2023, and we are at the design We remain at the forefront of sustainable development stage for a new residential project at 269 Queen’s Road (“SD”) practices in our industry, consistently pushing East. We are also working with a long term partner on a boundaries and reaching new milestones. Our efforts development in Chai Wan, a rare, large-scale residential have gained global recognition, including a second place site for which we plan to launch sales early next year. ranking in our industry globally on the Dow Jones We are excited to have entered the residential market in Sustainability World Index 2023 and the top spot on the the Chinese Mainland with two new mixed-use projects in Hang Seng Corporate Sustainability Index. Our ultimate Shanghai – the Shanghai New Bund Mixed-use Project objective is to achieve net-zero emissions by 2050. and Lujiazui Taikoo Yuan. Our New Bund project is in a We recognise biodiversity as the next frontier in fantastic location at the heart of the Qiantan area, addressing climate change. We have policies and opposite Taikoo Li Qiantan, where residential sales have guidelines in place to guide us in incorporating performed extremely well. Similarly, Lujiazui Taikoo Yuan biodiversity considerations into different aspects of is in a highly sought-after location in Pudong, along the our business operations and developments. The Huangpu River. It was formerly the location of the Taikoo redevelopment of Taikoo Place is a showcase to Wharf in the early to mid-1900s and the development demonstrate how we integrate biodiversity from an early design will pay tribute to its heritage. The residential stage. This was achieved through initial biodiversity portion will comprise eleven towers offering high-quality assessments and the incorporation of biophilic designs waterfront living in the heart of Shanghai. for Taikoo Square and Taikoo Garden, which feature more In South East Asia, we remain focused on our four target than 260 native and exotic plant species to promote markets of Jakarta, Singapore, Bangkok and Ho Chi Minh urban biodiversity. City. We have three projects currently in development Our sustainability-related partnerships with tenants and the outlook remains positive. With factors such as distinguish us from our peers and are an increasingly continued urbanisation, a growing middle class and a critical part of our leasing strategy. The Green limited supply of luxury residential properties, demand in Performance Pledge (“GPP”) builds on the premise of these markets is expected to remain stable. a green lease and the programme has generated We are cautiously optimistic for our hotel business in enthusiastic support, with more than 110 office tenants Hong Kong, subject to the speed of recovery for inbound participating across our Hong Kong portfolio. We tourism and business travel. We are keen to expand The launched the programme in the Chinese Mainland in House Collective and EAST brands through third party November 2023 which has also received a very positive management agreements. The development of our new response. Meanwhile, our Green Kitchen Initiative is also House Collective hotels in Tokyo, Shenzhen and Xi’an is receiving positive recognition from F&B tenants thanks to well underway and we continue to look for opportunities the excellent progress which has been made. Over 110 to introduce our two hotel brands to new markets in F&B tenants are currently enrolled across our Hong Kong the region. and Chinese Mainland retail portfolios. 15