H.k.land Regulatory News (HKLD)

7 May 2008 12:42

Hongkong Land Hldgs Ld07 May 2008 To: Business Editor For immediate release The following announcement was issued today to a Regulatory Information Serviceapproved by the Financial Services Authority in the United Kingdom. HONGKONG LAND HOLDINGS LIMITED Interim Management Statement 7th May 2008 - Hongkong Land Holdings Limited has today issued an InterimManagement Statement covering the period from 1st January to 6th May 2008 inaccordance with the requirements of the Disclosure and Transparency Rules issuedby the Financial Services Authority of the United Kingdom. During the period under review, the commercial property leasing markets in HongKong and Singapore have remained strong. Vacancy in the Group's officeportfolio in Hong Kong has remained low in 2008, and currently stands at some1.7%. The leasing of the Marina Bay Financial Centre in Singapore is proceedingwell with over half of the space having been pre-committed for both Phases I andII. In the residential development sector, the Group's joint venture in Beijing hascompleted Phase IV of Central Park and is handing over the apartments to buyers.In Chongqing, the pre-sale of Phase II of Bamboo Grove was launched to a goodmarket response. MCL Land has acquired a further development site in Singapore. The positive rental reversion cycle in Hong Kong together with the recognitionof profits on residential development projects will enhance earnings in 2008 andbeyond, while the Group's strong balance sheet will stand it in good stead ifthe economic environment becomes more difficult. Hongkong Land is one of Asia's leading property investment, management anddevelopment groups, with premium commercial and residential properties acrossthe region. In Hong Kong, the Group owns and manages some five million sq. ftof commercial space that defines the CBD, while in Singapore the Group has anumber of major joint venture developments. Its 77%-owned affiliate, MCL Land,is a Singapore-listed residential developer. Hongkong Land Holdings Limited isincorporated in Bermuda and listed in London, Bermuda and Singapore. It is amember of the Jardine Matheson Group. - end - For further information, please contact: Hongkong Land Limited Y K Pang (852) 2842 8428Geoffrey Brown (852) 2842 8138 (852) 9612 3496 GolinHarrisSue So (852) 2501 7984 This and other Group announcements can be accessed through the Internet at 'www.hkland.com'. This information is provided by RNS The company news service from the London Stock Exchange