Page 29 - Hang Lung Properties 2012 Annual Report

ʦϋɘ˜dѬኹɤɚຬ̻˙Ϸٙೌ፼㛬ඤ
ᄿఙٙਠఙਗ਼ึකุf༈يุٙॡ༣ ݺਗ
ආ࢝නлdཫಂක࿇ࣛึΌ௅ॡ̈fԙʦ
ʊᖦߒʘఊЗॡږხމଣซf
ೌ፼ٙ㛬ඤᄿఙܼ̍Շࢭ፬ʮᅽdୋɓࢭ
ίໝϓ ܝਗ਼͉݊ණྠίɪऎ˸̮ٙ࠯ࢭ፬
ʮᅽdཫࠇ̙׵׼ϋୋɓ֙ක࿇f༈፬ʮ
ᅽତ͍ආБཫॡʈЪdˀᏐ˿ɛོႀf
Ңࡁಀ޼Ӻəɓݬࣛගdઞী̙щ׵ʦϋ
ֵᜫॡ˒ቋɝᓨජִ̹ٙ㛬ඤᄿఙ࠯ࢭ፬
ʮᅽٙ༰Эᅽᄴfவࡈਗ਼ᅙ˂ɽᅽʱච ݬ
ໝϓٙਂجdίlzή הۃ ͊Ԉdऒʿٙྼ
ყ׌ձҦஔ׌Ѣᗭʔ׸༆Ӕf௰୞d༈̹
ʿ͉ණྠѩႩމϞᗫٙܿ኷ձ޴ᗫࠬᎈ˄
ɽdΪϾ͂ऊׂ᎘f዆ࢭ፬ʮᅽତਗ਼ܲࡡ
֛ࠇྌ׵ɚཧɓʞϋϋڋ઼͜f
νɪ˖ ࠑהdҢ ࡁԨʔཫಂʦϋึ̈ਯһ
ε࠰ಥٙڢࣨːҳ༟ يุdШҢ ࡁҎૐ̙
̈ਯʊໝϓٙИσఊЗfൖ˷̹رνОd
ൺ৵ήᔝ෨༸ධ̙ͦ׵ʦϋୋɧ֙પਯf
ኋ၍༈ يุ̥Ϟɤɞ ࡈࠦጐ΢ ߒ̬ϵʞɤ
̻˙Ϸٙ̒ዹͭόגݱ dШ͟׵ఊЗᄆࣸ
̙ঐხԳd݂Ꮠ̙੭Ըଣซٙ๐лf
዆᜗ϾԊdɚཧɓɧϋٙ๐л׼ᜑ՟Ӕ׵
Ңࡁ̈ਯ࠰ಥИσఊЗٙঐɢdϾவ͵ც
՟Ӕ׵̹رfࡊఊ޶ॡ ږϗɝdҢ ࡁხϞ
ዚึ፽੻ᖢ਄ᄣڗf
໨ԫڗ
௓઼֚
࠰ಥdɚཧɓɧϋɓ˜ɧɤɓ˚
This September we should see the inauguration of the 120,000 square
meter mall at Wuxi Center 66. Leasing is progressing well and we
expect full occupancy at opening. Contracted unit rent so far is rather
satisfactory.
Our first office building to be completed outside Shanghai, the first of
two towers at Wuxi Center 66, will be handed over to tenants from
the first quarter of next year. Pre-leasing has started and the signs
are encouraging.
For some time we had explored the possibility of first occupying the
lower floors of the first office tower at Shenyang Forum 66 later this
year. Such a phased completion of a skyscraper has never been
done on the Mainland, and the practical and technical difficulties are
not easily overcome. At the end, challenges and associated risks
prove too plentiful for the city and for us to accept, and the idea was
dropped. Now the entire building is slated to open in early 2015 as
originally planned.
As explained earlier, we do not foresee much selling of Hong Kong non-
core investment properties this year, but we are hopeful of parting with
completed apartments. Subject to market conditions, our Blue Pool
Road project in Happy Valley should be ready for release by the third
quarter of this year. Although only 18 semi-detached houses of some
450 square meters each, unit price may be rather pleasing resulting in
good profits.
Overall results for 2013 will obviously depend on our ability to sell Hong
Kong apartments which in turn will depend on market conditions. If we
only look at rental income, there is reasonable anticipation that we will
see some healthy increase.
Ronnie C. Chan
Chairman
Hong Kong, January 31, 2013
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