(Hong Kong, July 31, 2014) Hang Lung Properties Limited (HKSE stock code: 101) and Hang Lung Group Limited (HKSE stock code: 10) today announced solid financial results for the six months ended June 30, 2014.

First Half of 2014 Performance at a Glance:


Commenting on the performance, Mr. Ronnie C. Chan, Chairman of Hang Lung Group and Hang Lung Properties, said, "In the midst of an ever-evolving market landscape and a wave of slowdowns in retail sales in both Hong Kong and mainland China, Hang Lung has continued to deliver pleasing results thanks to steadfast management efforts. By closely monitoring market trends and the business environment, coupled with progressive tenant remixing, asset upgrades as well as creative marketing campaigns, we have built an outstanding portfolio of properties providing us with strong momentum for future growth."

Mr. Chan added, "On September 26 we will open Riverside 66 in Tianjin, our new iconic commercial development in northeast China. Strategically located in the heart of Tianjin's Central Business District with a provision of 152,800 square meters of top quality retail facilities, Riverside 66 is joining our landmark projects in the northeast, namely Palace 66 and Forum 66 in Shenyang, in creating exciting synergies and augmenting our array of world-class developments in the region and enabling us to capture fully the market opportunities facing us."

The grade A office tower of Center 66 in Wuxi, which is Hang Lung's first office project to be completed outside Shanghai, will come on stream in the fourth quarter of 2014.

In Hong Kong, the luxury residential development in Happy Valley, 23-39 Blue Pool Road, is expected to obtain its occupation permit later this year and be ready for release if the market environment works in Hang Lung's favor.  Major asset enhancement programs are also planned to further heighten the attractiveness of the malls in the territory with an aim to bring customers an all-new and dynamic shopping experience.

A prudent and sound financial management strategy remains in place to best support Hang Lung's long-term growth.  With a healthy balance sheet and strong cash flow generation capability, ample capacity is available not only to fund current development projects, but also to capitalize on any future investment opportunities that may arise.

The Boards of Directors of Hang Lung Properties and Hang Lung Group have declared an interim dividend of HK17 cents per share and HK19 cents per share, respectively, to be paid on September 30, 2014, to shareholders registered as at September 17, 2014.