The founding of Link REIT has greatly improved the shopping environment for communities by harnessing the power of the free market, and unlocking the potential of the asset portfolio. In just ten years, Link has evolved from a new market player to a leading innovative enterprise. Following our 10th anniversary special interview with Chairman Nicholas Sallnow-Smith in the last issue, Channel 823 spoke to CEO George Hongchoy for a review of the team's major accomplishments that have led to Link's astounding transformation in the past decade.

George said that as an extension of people's living space, Link's retail centres are where customers come for shopping on a daily basis, and have good time with their families and friends. Offering them products and services that cater to their changing wants and needs is of paramount importance.

"Compared to ten years ago, we are now providing a much broader range of merchandise, covering specialty food and beverage and lifestyle product, in addition to daily necessities. Residents are now spending more time shopping within their home district, boosting centres' footfall and taking occupancy rates to record high."

"All these changes to shoppers' experience are made possible, thanks to the trust and support tenants place in us. More international brands, having seen the effectiveness of our enhancement initiatives in generating new opportunities, decided to join our portfolio. Forty-one asset enhancement projects have been completed to date. This has expanded catchment areas and improved tenants' operating environments while opening a new chapter for local fresh markets and attracting younger customers."

Link is also making customers feel at home by introducing more value-added services and raising service standards across teams. "To better cater to customer needs, our centres are grouped into three categories, each with its unique set of service standard based on its market positioning. Our new mobile app allows customers, especially drivers, to know at a glance the availability of parking spaces at our centres and offerings from our restaurant tenants," said George.

Business development has fuelled the steady growth in returns to unitholders, signified by an average annual compound return of 20% in the last five years. "Sustainability and business development go hand in hand. We have been integrating sustainability into our daily operations and actively give back to the community. We view these as key indicators of our performance," he explained.

"We set aside 8% of our total floor area for leasing to charity organisations at concessionary rates, invest HK$200 million to improve barrier free access at shopping centres, and make an annual donation to support community services that benefit the elderly, families and youth."

Over the years, Link has been strengthening its expertise in asset management and enhancement. Since a new set of corporate Vision, Mission and Values was launched in November 2010; the company has delivered on multiple growth drivers through a number of strategic moves. "We have acquired three assets in Hong Kong, and in this year, for the first time, embarked on a development project and expanded to first-tier Mainland cities by acquiring a mall in Beijing and a Grade-A office and retail complex in Shanghai."

"Growing our business model by diversifying our assets and adding new growth drivers has enabled us to capture opportunities across the entire property life cycle and in different markets and asset classes."

The new name and logo highlight Link's role in linking community living while echoing its vision of becoming a world class real estate investor and manager that improves people's lives.

"Management excellence relies on a passionate, dedicated and professional team. As our business expands, our team is poised to leverage on our expertise to take Link to the next phase of growth, building on the strong foundation we have laid", he concluded.