Properties

Wheelock Properties Limited (“WPL”) hosted a handover ceremony today for NEO to officially handover this Grade A waterfront commercial building to LVGEM (China) Real Estate Investment Company Limited (“LVGEM (China)”, stock code: 0095.HK), marking a significant milestone to the partnership between the two parties.

Stewart C. K. Leung, Chairman of WPL, said: “NEO is ideally located in the heart of core business district with boundless potential in Kowloon East. The development overlooks the panoramic views of Victoria Harbour and takes only 5-minute walk to MTR Ngau Tok Kok Station, together with the comprehensive infrastructures, transportation networks and diverse amenities in the vicinity, offering an excellent business location to match its business development.”

Huang Jing Shu, Chairman of LVGEM (China), said: “Kowloon East will be transformed into a brand new core commercial area and a world-class economic hub benefiting from the support of policies. The geographical advantages of such area are greatly attractive to corporate customers. LVGEM NEO will take the opportunity to expand its own influence and establish the brand image rapidly, and develop into a financial and technology center converging numerous corporate headquarters.”

NEO was previously named 8 Bay East. Wheelock Properties and LVGEM (China) signed and completed an agreement for sale of shares for 8 Bay East at HK$9 billion in 2017. The development is a 19-storey building, totals approximately 600,000 square feet. Hong Kong LVGEM NEO has already started leasing service and subsequently will attract various types of corporate customers. The tenants include insurance groups, financial institutions, technology enterprises and virtual banks, etc., which is in line with the market positioning of the project - “A Full Seaview Grade A Office in Kowloon East”. The grand opening ceremony will be held in November 2019.

LVGEM NEO is sought after by the market since the launch of leasing in November 2018, which is beyond expectation. That implies the confidence of the tenants in LVGEM NEO building.  The clients are mainly conglomerates across Mainland China and Hong Kong or multinational corporations and intended to move their Asia-pacific or Hong Kong headquarters to LVGEM NEO. The pre-occupancy rate of the building at the current stage is nearly 50%.

WPL strives to build sustainable developments

WPL strives to develop quality commercial buildings, providing corporates with state-of-the-art, high-end, sustainable commercial development to meet their stringent requirements for high efficient and energy saving to cooperate with its business development. The Group’s waterfront grade A commercial portfolio, which includes One Bay East, One HarbourGate and NEO, were all acquired en-bloc by multinationals and PRCs, proven the quality of commercial buildings developed by WPL gains strong market recognition.WPL will continue to develop quality waterfront commercial buildings to meet the market demand.

LVGEM (China) continues to deploy in the Greater Bay Area, with improvement in business brand “NEO”

“NEO” is a renowned business brand created by an asset company under LVGEM (China). Being the first business project of LVGEM (China) in Hong Kong, the implementation of the project of “NEO” symbolizes the successful launch of its brand in Hong Kong, and it is expected that the room for value adding of assets of the project will increase. Looking forward, LVGEM (China) will focus on the strategy of “focusing on urban renewal in the Greater Bay Area, developing a brand new smart city”, continuously conduct deployment in the Guangdong-Hong Kong-Macao Greater Bay Area, simultaneously integrate the features and advantages of the Company, and actively seize the development opportunities in the future.

About Wheelock Properties (Hong Kong) Limited

Wheelock Properties is a wholly-owned subsidiary of Wheelock and Company Limited (SEHK:0020). Its principal activities include the undertaking of property development, sales and marketing, and asset management functions of certain Wheelock and Wharf Group properties.

Founded in 1857, Wheelock and Company Limited is a listed investment holding company headquartered in Hong Kong. Wharf Holdings, the Group's principal investment, is strategically focused on property and infrastructure in Hong Kong and China.

For further details, please visit www.wheelockpropertieshk.com and www.wheelockcompany.com

LVGEM (China) Real Estate Investment Company Limited

LVGEM (China) Real Estate Investment Company Limited (stock code: 0095.HK), established in 1995, is a well-known comprehensive real estate developer and commercial property operator in Shenzhen. It has three principal business segments including property development and sales, commercial property investment and operations as well as comprehensive services. In the segment of property development and sales, with the main business line of “Shenzhen and Hong Kong”, the company focuses on the geographic expansion in Greater Bay Area and their projects are all located in the core areas of Shenzhen, Hong Kong and Zhuhai, etc. The Company is ranked top 10 in terms of All-rounder Real Estate Developer in Shenzhen and top 10 Southern China Brands for consecutive years. In the area of commercial property investment and Operations, the company successfully operated numerous commercial properties as represented by two commercial brands, namely “Zoll” (「佐阾」)and “NEO”. In the area of comprehensive services, the company has the first grade qualification for the property management enterprise and provides high quality and comprehensive property management services to all kinds of the properties. Looking forward, the company will strive for the vision and goal of “being the most respected city value-creator in China” with an aim to further strengthen its market position in and brand influence over the development of the Greater Bay Area.

For further details, please visit http://www.lvgem-china.com/

Media Contact :

Jacus Chan

LVGEM CHINA

Tel: (852) 2123 9535

Fax: (852) 2123-9510

Email: jacuschan@lvgem-china.com

Vicky Cheung

Wheelock Properties (Hong Kong) Limited

Tel: (852) 2118 2613

Fax: (852) 2118 2068

Email: vickycheung@wheelockpropertieshk.com