Link Real Estate Investment Trust: CentralWalk Debuts as First Asset Improvement Project in Mainland China

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  • Link completed its first large-scale asset improvement project in mainland China at Link CentralWalk, with the official opening on January 16

  • Link CentralWalk positions itself as “urban paradise on the central axis of Futian”, with green design in every nook and cranny

  • Link CentralWalk has achieved three green building certifications: SITES Platinum Precertification, CS Platinum Certification of LEED V4 BD+C and WELL Health-Safety Rating

Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust (Link REIT, Hong Kong stock code: 823) announced today (Sunday) that Link CentralWalk, Link’s shopping mall located primarily in Futian of Shenzhen, has completed the improvement of its project assets and is celebrating its inauguration today.

This is Link’s first large-scale asset improvement project on the continent. The project cost $350 million.

By optimizing the tenant mix, Link increased the total number of stores by around 20%. While the mall targets young consumers and white-collar workers in the central business district of Futian, it has also been upgraded to meet the needs of family customers, differentiating its positioning given the lack of family-oriented malls in the area. .

Link CentralWalk positions itself as an “urban paradise on the central axis of Futian”, with green design in every nook and cranny. The mall’s interior is themed around the four seasons. The seasonal cycle of spring, summer, autumn and winter is presented through themed decoration and a variety of seasonal plants. On the roof and the outdoor plaza below, plants that bloom in different seasons, as well as conifers, present visitors with a landscape of greenery that changes throughout the year. As a result of asset upgrades, Link CentralWalk’s green area now spans over 18,000 square meters, and the total green coverage rate has increased by 10 percentage points to 43.1%, with no less than of 36 types of plants in the mall.

After more than a year of upgrades and renovations, Link CentralWalk has achieved three green building qualifications – SITES Platinum Precertification, CS Platinum Certification of LEED V4 BD+C and WELL Health-Safety Rating – all of which should be officially certified during February and March 2022.

George Hongchoy, President and CEO of Link, said, “Link CentralWalk is Link’s first shopping center in Shenzhen and our first large-scale asset improvement project in mainland China. We have applied our experience of improving assets at Link properties in Hong Kong to this project. . We hope that the green design concepts advocated by the project can create a relaxing space for the enjoyment of Shenzhen citizens.”

Mr. Hongchoy added, “We are pleased that the mall has obtained all three green building qualifications, all of which are highly credible industry certifications in aspects such as green building, site health and safety. These certifications further underscore Link’s commitment to applying sustainable practices in its operations.”

Since 2015, Link has gradually expanded its presence in mainland China, which includes a diverse portfolio of nine properties covering retail, office and logistics facilities in Beijing, Shanghai and other cities in the Greater Bay Area, especially Guangzhou and Shenzhen. Mainland assets represent 16.8% of Link’s total portfolio value. [Note]

To note:

As of September 30, 2021, including the land value of 50% of Qibao Vanke Plaza, the agreed land value of 75% interests in two logistics assets in Dongguan and Foshan, which was completed in October 2021, the agreed land value of 50% interest in three commercial properties in Sydney, which was announced on November 7, 2021 and the agreed land value of two institutional grade car parks/service centers and buildings in Hong Kong, which was announced on November 10, 2021. November 2021.

High resolution images can be downloaded here.

A virtual tour of Link CentralWalk can be viewed here.

More information about Link’s mainland China asset portfolio can be found here: https://www.linkreitchina.com/en/home/

– To finish –

About the link

Link Real Estate Investment Trust (Hong Kong stock code: 823), managed by Link Asset Management Limited, is one of the world’s leading retail-focused REITs. Listed in 2005 as the first REIT in Hong Kong, Link is 100% owned by public and institutional investors and is included in the Hang Seng Index. From his home in Hong Kong, Link manages a diverse portfolio of retail, parking and office properties spanning Hong Kong, Beijing, Guangzhou, Shanghai, Shenzhen, London and Sydney. Link is looking to extend its portfolio’s growth trajectory and seize expansion opportunities across different markets in pursuit of its Vision 2025 medium-term goal. For more details, please visit https://www.linkreit.com /.

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