ISSUE 016 季刊 | Summer 2015 Edition
首登神州 增長添動力
Seizing China Opportunities
Driving Multi-Pronged Growth Strategy

首登神州 增長添動力
Seizing China Opportunities
Driving Multi-Pronged Growth Strategy

領匯擴大投資策略至香港境外,並於4月取得重要進展,斥資人民幣25億元購入北京歐美匯購物中心。幸得董事會及基金單位持有人對內地投資策略的支持,以及內部團隊努力不懈推展策略,讓內地項目得以落實。

內地城市化,中產消費群增長帶動購買力持續上升,其中一線城市如北京、上海、廣州及深圳,零售市場較為成熟,加上城市規劃及基建發展完善,尤其是位處鐵路沿線的商場更具龐大零售機遇。

於進行相關投資時,我們審慎研究了90多項物業,再詳細審視其中不少項目,才最後落實上述投資。歐美匯坐落號稱「中國矽谷」的北京海淀區中關村,交通便捷,是北京最主要的購物商場之一。

繼投得九龍東辦公室發展項目,歐美匯是本年落實的第二項重要投資。不同的地域及資產類別,其周期都有差異;領匯加入內地投資及辦公室發展項目,令資產組合更加多元化,有利分散風險。

領匯負債比率較低,具備實力以較低資金成本取得融資,將有助我們在香港和國內策略性推展投資,物色優質物業,發揮領匯團隊的專業優勢。

內地投資及香港物業發展等新業務方向逐步落實,連同原有業務增長點,正為領匯提供全面增長動力,涵蓋資產提升、資產管理、資產收購、資產出售、開發投資物業及物業重建。此六大動力相輔相成,可於不同發展階段帶動增長。


王國龍
行政總裁│2015年6月



Ever since The Link started diversifying its investment strategy geographically, we have been eyeing opportunities in first-tier cities in Mainland China. Our effort came to fruition in April, as we acquired EC Mall in Beijing for RMB2,500 million. I would like to thank the Board and our unitholders for their support of our China investment strategy, as well as our team for their contribution to this first project.

Rapid urbanisation in China is driving the growth of middle-class shoppers with strong consumption power. We are targeting properties along railway lines in the first-tier Chinese cities, including Beijing, Shanghai, Guangzhou and Shenzhen, where the retail markets are more mature, with better town planning and more developed city infrastructure.

Prior to signing the project, we looked carefully at over 90 projects, and examined some of them in detail. Located in Haidian District's Zhongguancun, widely known as "China's Silicon Valley", EC Mall is one of the major shopping malls in Beijing, well-served by transport network with an attractive catchment.

Following our successful bid for the Kowloon East office development project, this is our second major investment this year. By expanding the geographical scope and asset type of our portfolio, these new investments will help diversify risks for our business.

Given our low gearing and our ability to raise long-term debt at low cost, we will continue to look for quality properties in Hong Kong and Mainland China, with a view to leveraging the strength of our professional team.

Our new directions in China investment and property development, together with our existing activities, will provide a full range of growth drivers, covering asset enhancement, asset management, asset acquisition, asset disposal, development of investment properties, and re-development of existing properties. These drivers are complementary to each other, driving growth at various stages of our development.


George Hongchoy
Chief Executive Officer │ June 2015