Slide 1: FY 2019 Results Presentation
FY 2019 Results Presentation 26 February 2020
Slide 2: Agenda
Agenda ➢ General Overview & ➢ International Operations Strategic Initiatives ➢ Hospitality ➢ Financial Highlights ➢ Singapore Operations
Slide 3: General Overview
General Overview
Slide 4: Key Financial Highlights – Q4 2019
Key Financial Highlights – Q4 2019 Revenue EBITDA PATMI Basic EPS $946.9 million $221.9 million $87.7 million 9.0 cents 20.1% 15.3% 12.5% 13.9% Q4 2018 $788.3 million $192.4 million $77.9 million 7.9 cents • The Group delivered a resilient performance in view of the challenging macro economic enviro
Slide 5: Key Financial Highlights – FY 2019
Key Financial Highlights – FY 2019 Revenue EBITDA PATMI Basic EPS $3.43 billion $1.13 billion $564.6 million 60.8 cents 18.8% 5.2% 1.3% 1.5% FY 2018 $4.22 billion $1.19 billion $557.3 million 59.9 cents • Decrease in revenue due to recognition timing for property development: FY 2019 FY 2018 The Tap
Slide 6: Key Financial Highlights – FY 2019
Key Financial Highlights – FY 2019 NAV per share RNAV per share ROE $11.60 $16.46 5.4% 4.8% YoY 4.7% 0.2 pts YoY FY 2018 $11.07 $15.72 5.6% Proposed Dividend Share Price Performance Comprises: 20.0 • Special Final Dividend: $10.95^ – 6.0 cents cents per share • Final Dividend: 34.9% - – 8.0 cents 20
Slide 7: Key Operational Highlights – Singapore Property Development
Key Operational Highlights – FY 2019 PROPERTY DEVELOPMENT – SINGAPORE ➢ Sold 1,554 units with total sales value of $3.3 billion^ ➢ Record Number of Projects Launched (6): Project Location Tenure Equity Total Units Ave. Selling Stake Units Sold* Price (ASP) Orchard Boulevard 88 Boulevard Freehold 40%
Slide 8: Key Operational Highlights – Overseas Property Development
Key Operational Highlights – FY 2019 PROPERTY DEVELOPMENT – OVERSEAS ▪ CHINA: Sold 530 units with total sales value of RMB 1.81 billion ($350 million) Hong Leong City Center, Suzhou Eling Palace, Chongqing# Emerald, Chongqing# Hongqiao Royal Lake, Shanghai (1,804 units) (126 units) (820 units) (85 v
Slide 9: Key Operational Highlights – Asset Management
Key Operational Highlights – FY 2019 ASSET MANAGEMENT – SINGAPORE ▪ Strong committed occupancy for core Singapore office & retail portfolio as of 31 Dec 2019: Office Retail (13 properties) (9 properties) Committed Occupancy 89.8% 94.7% Net Lettable Area 2.2 million sq ft 733,000 sq ft ▪ Completed $7
Slide 10: Key Operational Highlights – Hotel Operations
Key Operational Highlights – FY 2019 HOTEL OPERATIONS ▪ Successful M&C privatisation: ➢ 11 Oct: De-listed from trading on London Stock Exchange ➢ 4 Nov: Re-registered as Millennium & Copthorne Hotels Limited (a private company) ➢ 19 Nov: M&C became a wholly-owned subsidiary of the Group, following t
Slide 11: Key Operational Highlights – Fund Management
Key Operational Highlights – FY 2019 FUND MANAGEMENT ▪ Strategic investment in IREIT Global: ➢ $77.8 million investment in Singapore-listed IREIT Global with US$285 million Germany asset portfolio in April 2019: ‒ REIT Manager: 50% stake for $18.4 million ‒ REIT Units: 12.4% stake* for $59.4 million
Slide 12: Portfolio Composition by Segment
Portfolio Composition by Segment $1.1 billion $23.2 billion Others 3% Others 9% Property Property Development Development 39% 37% Investment Investment Properties EBITDA* Properties Total 28% 42% Assets^ Hotel Hotel Operations Operations 16% 26% FY 2019 * Earnings before interest, tax, depreciation
Slide 13: Diversified Global Portfolio
Diversified Global Portfolio Deepening Presence in Key Markets ➢ Geographical diversification allows flexibility to capitalise on opportunities $3.4 billion $23.2 billion Others Singapore Others 22% 45% 18% Singapore 47% US 7% Revenue Assets US 16% China 13% China 4% UK UK 13% 15% FY 2019 13
Slide 14: Sustainability Focus & Performance Highlights
Sustainability Focus & Performance Highlights 2020 Theme: Changing The Climate. Changing The Future. 1 Committed to fostering climate action and SDGs via strategic engagements & 3P partnerships globally & locally 2 Strengthened alignment of sustainability commitment with capital markets: LATEST Pion
Slide 15: Sustainability & ESG Milestones
Sustainability & ESG Milestones Ranked on 12 Leading Global Sustainability Indices LATEST ESG MILESTONES Only company in Southeast Asia Ranked world’s top real estate, Only real estate top Singapore company, and company listed for 3rd and Hong Kong to achieve this double ‘A’ honour for both climate
Slide 16: Operating Challenges from COVID-19 Outbreak
Operating Challenges from COVID-19 Outbreak Precautionary Measures Implemented – Impact assessment ongoing KEY MEASURES Standardised Plans & protocols Stepped up IMPLEMENTED preventive measures to manage awareness & AT SITES & adopted across suspected cases cleaning efforts PROPERTIES managed proper
Slide 17: Strategic Initiatives
Strategic Initiatives
Slide 18: GET Strategy
GET Strategy Accelerate Transformation of Asset Portfolio and Business Operations for Growth Growth Growth ➢ Build development pipeline & recurring Enhancement income streams Transformation Artist’s Impression Enhancement Transformation ➢ Enhance asset portfolio ➢ Transform business via ➢ Drive oper
Slide 19: Completed Strategic Acquisitions & Investments
GROWTH Completed Strategic Acquisitions & Investments Japan Portfolio with 3 freehold UK & Europe residential properties, Osaka M&C Privatisation FY 2019: Horie Lux, Osaka ~$2.3 billion^ Acquisitions & investments ¥3.45 billion ($44.3 million) Singapore China Sims Drive GLS site The Biltmore Mayfair
Slide 20: Acquisition of Irwell Bank Road GLS
GROWTH Acquisition of Irwell Bank Road GLS Top Bidder for Prime Site at Irwell Bank Road Location Tenure Equity Stake Total Units Site Information Site Area 12,787 sqm Irwell 99-year 100% Est. 580 Maximum GFA 35,803 sqm Bank Road leasehold Land Price $583.89 million / $1,515 psf ppr Top Bid Placed f
Slide 21: Redevelopment of Liang Court
GROWTH Redevelopment of Liang Court Redevelopment of Liang Court site into an Integrated Riverfront Development • Planned redevelopment announced in Nov 2019 by CDL and JV partner CapitaLand Limited, following the proposed sale by CDL Hospitality Trusts (CDLHT) of its total interest in Novotel Singa
Slide 22: Recurring Income Assets Acquired in 2019
GROWTH Recurring Income Assets Acquired in 2019 (1) Horie Lux (2) Pregio Joto Chuo (3) B-Proud Tenmabashi (4) Miyakojima Hondori Osaka Rental Apartments Shanghai Hongqiao Sincere Centre Phase 2 4 rental apartment projects 11 blocks comprising office space, a 132-room in Osaka serviced apartment, and
Slide 23: Divestment of W Singapore – Sentosa Cove
GROWTH Divestment of W Singapore – Sentosa Cove Injection of 240-room hotel into CDL Hospitality Trusts’ (CDLHT) Portfolio Launched Development Projects U/C ▪ Divestment of W Singapore – Sentosa Cove hotel to CDLHT – M&C’s listed REIT associate – for $324 million ($1.35 million per key)* ▪ The injec
Slide 24: Palais Renaissance: Mall Revitalisation
ENHANCEMENT Improve Asset Positioning & Relevance Palais Renaissance: Mall Revitalisation Planned Works ▪ Activate frontage with a wider mall entrance, attractive F&B offerings and improved aesthetics. ▪ Refresh the interiors, enhance shopper experience and improve the trade-mix. Target Timeline: Co
Slide 25: Jungceylon (Phuket) – Mall Revitalisation
ENHANCEMENT Improve Asset Positioning & Relevance Jungceylon (Phuket) – Mall Revitalisation Frontage Artist’s Impression Planned Works ▪ Enhance the main building entrances, facades and outdoor areas with modern, inviting concept. ▪ Refresh the interiors, enhance shopper experience and improve the t
Slide 26: City Industrial Building and Cideco Industrial Complex: Functional Upgrade
ENHANCEMENT Improve Asset Positioning & Relevance City Industrial Building and Cideco Industrial Complex: Functional Upgrade City Industrial Building Planned Works ▪ Refresh the buildings’ aesthetics. ▪ Upgrade amenities to improve user experience. Artist Impression Target Timeline: Completion by Q4
Slide 27: The Biltmore Mayfair – LXR Hotels & Resorts
ENHANCEMENT The Biltmore Mayfair – LXR Hotels & Resorts Key Dates: £60 million refurbishment started in Nov 2017 Fully closed in July 2018 Re-opened on 9 September 2019 Re-branded as ‘The Biltmore Mayfair’ The hotel re-opened as a 5-star deluxe property; as LXR Hotels & Resorts’ first UK property, f
Slide 28: Platform Initiatives
TRANSFORMATION Platform Initiatives Transform Business via New Platforms Strategic Investments Fund Management M&C Investment in AUM Target: Privatisation Sincere Property Group (China) US$5 billion by 2023 ➢ Focus on achieving synergies, cost ➢ Transaction is being renegotiated ➢ Accelerate growth
Slide 29: Financial Highlights
Financial Highlights
Slide 30: Financial Highlights
Financial Highlights Property Hotel Investment Development Operations Properties Q4 FY Q4 FY Q4 FY 2019 2019 2019 2019 2019 2019 Revenue $114M $909M Revenue $21M $26M Revenue $17M $80M PBT $16M $245M PBT $45M $47M PBT $23M $144M ▪ Decrease in YTD revenue and PBT due to ▪ Revenue boosted by contribut
Slide 31: Revenue by Segment for 4th Quarter (2017–2019)
Financial Highlights Revenue by Segment for 4th Quarter (2017 – 2019) $1,328m $788m $947m 800 760 700 600 500 453 474 450 $ million 400 311 300 197 200 103 119 86 100 43 32 35 0 Q4 2017 (Restated) * Q4 2018 Q4 2019 Property Development Hotel Operations Investment Properties Others * Restated due to
Slide 32: Profit Before Tax by Segment for 4th Quarter
Financial Highlights Profit Before Tax by Segment for 4th Quarter (2017 – 2019) 240 $223m $111m $108m 200 177 160 120 103 87 $ million 80 58 40 35 40 1 5 3 0 (8) (6) (40) (53) (80) Q4 2017 (Restated) * Q4 2018 Q4 2019 Property Development Hotel Operations Investment Properties Others * Restated due
Slide 33: Revenue by Segment for Full Year (2017–2019)
Financial Highlights Revenue by Segment for Full Year (2017 – 2019) $3,829m $4,223m $3,429m 2,200 2,045 2,000 1,800 1,653 1,694 1,679 1,705 1,600 $ million 1,400 1,200 1,137 1,000 800 600 438 347 359 400 135 140 149 200 0 FY 2017 (Restated) * FY 2018 FY 2019 Property Development Hotel Operations Inv
Slide 34: EBITDA by Segment for Full Year (2017–2019)
Financial Highlights EBITDA by Segment for Full Year (2017 – 2019) $1,057m $1,188m $1,126m 700 658 650 600 550 500 474 $ million 461 450 435 400 350 303 290 276 300 250 192 178 200 150 100 30 35 39 50 0 FY 2017 (Restated) * FY 2018 FY 2019 Property Development Hotel Operations Investment Properties
Slide 35: Profit Before Tax by Segment for Full Year
Financial Highlights Profit Before Tax by Segment for Full Year (2017 – 2019) $763m $876m $754m 700 650 624 600 550 500 435 450 400 378 $ million 350 333 300 250 189 200 149 160 150 100 50 19 40 23 50 0 (50) (7) FY 2017 (Restated) * FY 2018 FY 2019 Property Development Hotel Operations Investment Pr
Slide 36: Strong Balance Sheet & Liquidity Position
Financial Highlights Strong Balance Sheet & Liquidity Position Net Gearing Net Gearing 1 Interest Cover Ratio (include fair value) 61% 43% 14.0x 31% in FY 2018 23% in FY 2018 14.9x in FY 2018 % of Fixed Rate Debt Ave Borrowing Cost % Secured Borrowings 40% 2.4% 21% 45% in FY 2018 2.3% in FY 2018 27%
Slide 37: Financial Highlights
Financial Highlights As at 31/12/19 As at 31/12/18 Gross borrowings $9,728m $6,342m Lease liabilities $207m - Cash and bank balances ^ ($3,084m) ($2,512m) Net borrowings $6,851m $3,830m ^ Include restricted deposits of $284m (2018: $223m) classified as non-current assets 37
Slide 38: CDL Group – Prudent Capital Management
Financial Highlights CDL Group – Prudent Capital Management ➢ Balanced debt expiry profile ➢ Balanced debt currency mix – adopting a natural hedging strategy ➢ Average borrowing cost kept low ➢ Balance of fixed rate borrowings to mitigate rate hikes Debt Expiry Profile More than 3 years 21% Within 1
Slide 39: Singapore Operations – Property Development
Singapore Operations Property Development
Slide 40: Singapore Property Market
Singapore Property Market Property Price Index – Residential (2013 –2019) All Residential 180 Price increase (+0.5% QoQ) 3rd consecutive quarter of price increase since July 2018 cooling measures Q4 19: 160 153.6 140 120 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 41: Singapore Property Market
Singapore Property Market • Private residential prices increased by 0.5% in Q4 2019. Cumulatively, prices have risen 2.7% in the whole of the year. • Primary home sales remained healthy in Q4 2019, a total of 2,443 units were sold. Developers moved a total of 9,912 private homes in the whole of 2019
Slide 42: Singapore Property Development
Singapore Property Development Residential Units Sold by CDL FY 2018 FY 2019 $3,268,242 1,554 1,639,742 $2,197,543 Sales Value 1,077,147 1,113 49% yoy Units Sold 40% yoy No. of Units* Sales Value* Total Floor Area* (#039;000) (sq ft) * Includes Executive Condominiums (ECs) and share of JV partners, exc
Slide 43: Steady Sales for 2018 Launched Projects
Singapore Property Development Steady Sales for 2018 Launched Projects Project Location Tenure Equity Total Total Units Ave. Selling Total Saleable Expected Stake Units Sold* Price (ASP) Area (sq ft) TOP 124 Completed New Futura Leonie Hill Road Freehold 100% 124 >$3,500 psf 248,199 (Fully Sold) Aug
Slide 44: Residential Launch in Q1 2019
Residential Launch in Q1 2019 Boulevard 88 – Sales value of over $750 million* Location Tenure Equity Total Units Total Units Total Saleable Expected Stake Units Released Sold* Area (sq ft) TOP Orchard Boulevard Freehold 40% 154 100 91 316,844 2022 154-unit Freehold Luxury Residences in District 10
Slide 45: Residential Launch in Q2 2019
Residential Launch in Q2 2019 Amber Park – Iconic Freehold Residence in East Coast Location Tenure Equity Total Units Units Total Units Total Saleable Expected TOP Stake Released Sold* Area (sq ft) Amber Road Freehold 80% 592 220 202 604,006 2023 Best-selling Freehold Property Launch in District 15:
Slide 46: Residential Launch in Q3 2019
Residential Launch in Q3 2019 Haus on Handy – Exclusive Condo in Prime District 9 Location Tenure Equity Total Units Units Total Units Total Saleable Expected TOP Stake Released Sold* Area (sq ft) Handy Road 99-year 100% 188 40 32 120,791 2023 Exclusive Condo in Prime Orchard Road Area: ▪ 32 units o
Slide 47: Residential Launch in Q3 2019
Residential Launch in Q3 2019 Nouvel 18 – A Freehold Masterpiece by Jean Nouvel Location Tenure Equity Total Units Units Total Units Total Saleable Completion Stake Released Sold* Area (sq ft) Anderson Road Freehold --^ 156 30 27 351,054 2014 Iconic Luxury Residence in the Ardmore & Anderson Residen
Slide 48: Residential Launch in Q3 2019
Residential Launch in Q3 2019 Piermont Grand Executive Condominium (EC) – Luxurious Waterfront EC Location Tenure Equity Total Units Units Total Units Total Saleable Expected TOP Stake Released Sold* Area (sq ft) Sumang Walk 99-year 60% 820 820 484 908,804 2023 820-unit Waterfront EC in Transformati
Slide 49: Residential Launch in Q4 2019
Residential Launch in Q4 2019 Sengkang Grand Residences – Integrated Development with Seamless Connectivity Location Tenure Equity Total Units Total Units Total Saleable Expected TOP Stake Units Released Sold* Area (sq ft) Sengkang Central 99-year 50% 680 280 237 550,728 2022 Integrated Development
Slide 50: Inventory of Launched Residential Projects
Singapore Property Development Inventory of Launched Residential Projects – As of 23 Feb 2020 Total Unsold CDL’s Share of Project Equity Stake Total Units Units Sold Inventory Unsold Inventory Cuscaden Residences 25% 75 74 1 0.3 St. Regis Residences 33% 173 161 12 4.0 The Oceanfront @ Sentosa Cove 5
Slide 51: Diversified Residential Launch Pipeline
Diversified Residential Launch Pipeline SG Pipeline comprises Mass Market and Mid-Tier segments Irwell Bank Road Launch Pipeline (Est 580 units) 1,146 units* GLS site near upcoming Great World MRT station awarded in Upcoming Launches Jan 2020 Sims Drive^ 1H 2020 Land cost: $583.9 million Irwell Bank
Slide 52: Singapore Operations – Asset Management
Singapore Operations Asset Management
Slide 53: Singapore Commercial Market
Singapore Commercial Market Property Price Index – Commercial (2013 – 2019) 150 Q4 19: 138.1 (-0.5% QoQ) Office Retail 140 130 Q4 19: 114.0 120 (+1.8% QoQ) 110 100 90 80 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 13 13 13 13 14 14 14 14 15 15 15 15 16 16 16 1
Slide 54: Singapore Commercial Market
Singapore Commercial Market Property Rental Index – Commercial (2013 – 2019) 250 Office Retail Q4 19: 170.0 200 (-3.2% QoQ) 150 Q4 19: 101.0 (+2.3% QoQ) 100 50 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 13 13 13 13 14 14 14 14 15 15 15 15 16 16 16 16 17 17
Slide 55: Singapore Commercial Portfolio
Singapore Commercial Portfolio Strong Committed Occupancy and Positive Rental Reversion for Office & Retail Portfolio (As at 31 December 2019) (1) Office Retail 13 properties 9 properties 89.8% 94.7% Committed Occupancy Committed Occupancy 2.2 million sq ft 733,000 sq ft Net Lettable Area REPUBLIC P
Slide 56: Singapore Commercial Portfolio
Singapore Commercial Portfolio Trade Mix of Office & Retail Space by % of Total Gross Rental Income (As at 31 December 2019)* Office Retail Supermarkets Sporting & Value Store, Electrical, Electronics & Banking, Insurance & Goods, 2.8% 5.5% Telecommunications, Technology & Financial Services, 20.9%
Slide 57: International Operations
International Operations
Slide 58: International Operations – Australia
International Operations – Australia Focus on Increasing Exposure in Australia Brisbane Bowral Sydney Artist’s Impression Artist’s Impression Waterbrook Bowral Waterbrook Bayview Luxury Retirement Housing Projects: Collaboration with Waterbrook Lifestyle Resorts on 2 Freehold Luxury Retirement Housi
Slide 59: International Operations – China
International Operations – China Focus on Tier 1 and Tier 2 Cities Suzhou (苏州) Continued Sales Momentum: Total sales of RMB 3.97 billion Chongqing(重庆) generated for 92% of 1,804 units to Relaunched in May 2018: date*^ Sold 80 units to date* ➢ Phase 1 – 99% sold ➢ Sales value of RMB 449 million ➢ Pha
Slide 60: International Operations – Japan
International Operations – Japan Four freehold rental apartment projects in Osaka added to the Japan portfolio in 2019 Infinity Pool Freehold site in Shirokane Park Court Aoyama The Tower Sky Lounge Development Site: ➢ Prime 180,995 sq ft freehold site Completed in Q1 2018: acquired in Oct 2014 ➢ 16
Slide 61: International Operations – UK Residential
International Operations – UK Residential Strengthening our Presence Practical completion in 2020 Artist’s Impression Monk Bridge, Leeds Artist’s Impression Sydney Street, Chelsea Fully sold Marketing activities in progress Marketing activities in progress Artist’s Impression Teddington Riverside Kn
Slide 62: International Operations – UK Commercial
International Operations – UK Commercial Strengthening our Presence in London NLA 328,819 NLA 210,504 Occupancy 94% Occupancy 86% WALE 5.5 WALE 6.9 Yield 4.75% Yield 5.3% CDL’s CDL’s £385m £183m Acquisition Acquisition Aldgate House Planning approval obtained 125 Old Broad Street Artist’s Impression
Slide 63: Hospitality
Hospitality
Slide 64: Hotel Operations Trading Performance
Hotel Operations Trading Performance FY 2019 FY 2018 Change $m $m % Revenue $1,705.0 $1,679.4 + 1.5% Profit Before Tax ($6.6) $40.0 NM * EBITDA $178.3 $192.1 - 7.2% Group RevPAR : ↑ 0.9% in YTD Dec 2019 (reported currency) ↑ 0.8% in YTD Dec 2019 (constant currency) M Social Singapore Revenue – incre
Slide 65: Hotel Operations Performance
Hotel Operations Performance Hotel Occupancy, Average Room Rate, and RevPAR by Region for CDL Group Room Occupancy Average Room Rate RevPAR FY FY Incr / FY FY Incr / FY FY Incr / 2019 2018 (Decr) 2019 2018 * (Decr) 2019 2018 * (Decr) % % % pts S$ S$ % S$ S$ % Singapore 86.2 83.7 2.5 186.9 175.0 6.8
Slide 66: Asset Enhancement Plans
Asset Enhancement Plans M&C’s 2020 Capex Programme – $140 million Ongoing Phased Works Planned Phased Works – Expected completion in 2020 / 2021 Millennium Hotel Gloucester Millennium Hotel Millennium Hilton London Kensington Paris Opera New York Downtown US$37 million ($50 million) phased refurbish
Slide 67: CDL Hospitality Trusts
CDL Hospitality Trusts Trading Performance FY 2019 FY 2018 Change $m $m % Gross Revenue 196.9 201.8 -2.4 Net Property Income 141.2 146.1 -3.3 (NPI) Gross Revenue and NPI decreased mainly due to: • Decreased revenue contribution of S$7.9m year-on-year from CDLHT Raffles Maldives Meradhoo properties e
Slide 68: Disclaimer
Disclaimer: This document may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions
Slide 69: www.cdl.com.sg
Artist’s impression Amber Park, Singapore www.cdl.com.sg
Slide 70: Appendix
Appendix
Slide 71: Portfolio Composition – FY 2019
Portfolio Composition – FY 2019 Recurring Income Segments Property Hotel Investment $ million Others Total Development Operations Properties EBITDA * Local 297 95 361 33 786 Overseas 138 83 113 6 340 435 178 474 39 1,126 Total Assets ^ Local 5,694 1,017 3,549 710 10,970 Overseas 2,864 4,916 3,013 1,
Slide 72: Diversified Land Bank
Diversified Land Bank Land Area (as of 31 Dec 2019) – CDL’s Attributable Share Type of Development Land Area (sq ft) Singapore International Total % Residential 335,572 2,938,797 3,274,369 95 Commercial / Hotel 20,886 150,947 171,833 5 Total 356,458 3,089,744 3,446,202 100 Total Land Area1 – 3.4 mil
Slide 73: International Property Development
International Property Development Residential Projects Launched To Date Project City Equity Total Est. Total Expected Stake Units Saleable Area Completion (sq ft) Australia Ivy and Eve Brisbane 33%# 476 348,678 Completed The Marker Melbourne 50% 195 174,048 Q4 2021 China Hong Leong City Center (Pha
Slide 74: International Property Development
International Property Development Unlaunched Residential Projects Project City Tenure Equity Total Est. Total Saleable Area / Expected Stake Units GFA^ / Site Area+ (sq ft) Completion UK 28 Pavilion Road London Freehold 100% TBC 116,573^* TBC Ransomes Wharf London Freehold 100% 118 249,323^ TBC Sta
Slide 75: Australia – Property Development
Australia – Property Development The Marker, Melbourne Equity Est. Total Saleable Total Expected Tenure Stake Area (sq ft) Units Completion Freehold 50% 174,048 195 4Q21 ▪ Launched for pre-sales in May 19 The Marker Artist’s Impression Site in Fitzroy, Melbourne Equity Est. Total Saleable Total Arti
Slide 76: China – Project Development
China – Project Development China– Chongqing JV Projects Eling Palace (鹅岭峯) and Emerald (翡翠都会) Project Tenure Equity Total Expected Stake Units Completion Eling Palace 50 years 50% 126 Completed 50 years (Residential) / Emerald 30% 820 2020 40 years (Commercial) Eling Palace, Chongqing ▪ Eling Palac
Slide 77: China – Development / Recurring Income Projects
China – Development / Recurring Income Projects Suzhou Mixed-use Waterfront Project HongLeongCityCenter (丰隆城市中心) Equity Total Total Units % Tenure Expected Completion Stake Units Sold* Sold* 70 years (Residential) / 40 years 100% 1,804 1,651^ 92 Completed (Phase 1 & 2~) (Commercial) ▪ Total sales of
Slide 78: China – Recurring Income Projects
China – Recurring Income Projects Hong Leong Plaza Hongqiao, Shanghai Tenure Equity Stake Est. Total GFA (sqm) 50-year lease 100% 32,182 ▪ Operational since Q4 2019 ▪ Three office tower (71% of total NLA) has been leased out as serviced apartment and confinement centre Artist’s Impression Hong Leong
Slide 79: UK – Property Development
UK – Property Development UK – Planning Approvals Obtained 28 Pavilion Road Tenure Equity Stake Est. Total Gross Floor Area (sq ft) Freehold 100% 116,573* • Planning approvals granted for a 28-unit residential scheme and a mixed- use scheme with 24 residential units and a health club 28 Pavilion Roa
Slide 80: UK – Projects under Construction
UK – Property Development UK – Projects under Construction Teddington Riverside Est. Total Equity Total Units Expected Tenure Saleable Stake Units Released Completion Area (sq ft) Freehold 100% 233,870 224^ 76 Q2 2020 • Phase 1, Carlton House and Shepperton House (76 apartments in total), is ready f
Slide 81: UK – Completed Projects
UK – Property Development UK – Completed Projects Hans Road, Knightsbridge Est. Total Equity Total Expected Tenure Saleable Area Stake Units Completion (sq ft) Freehold 100% 5,116 3 Completed • Fully sold in 2019 with an average selling price at £4,176 psf Hans Road, Knightsbridge Chesham Street, Be