27/9/2017-6

Hang Lung mainland banks issued billions of billions

Hang Lung Properties (0101) jointly announced on the 22nd of this month to the China Interbank Market Dealers Association, apply for the issue of a total of not more than 10 billion yuan of foreign RMB debt financing tools, and apply for the future Timely issue one or more periods.

There is pending approval for the development of housing

Hang Lung said that the current is not yet determined whether or when approved, so the terms, timetable and scale to be determined, the company did not disclose the use of financing. However, during the interim report released last week by the Hang Lung Department, Chairman Chen Qizong has shown that there is little chance to buy a large amount of residential land in Hong Kong for development purposes, but will redouble its efforts to develop in the Mainland and for many years To the mainland commercial land as a purchase target. He also mentioned that it is difficult to believe that the recent payment of land premiums can earn a reasonable return, once the local land prices down, earlier to unreasonable high prices to buy developers will be chaos. As a strong local developer, including Hang Lung is ready to “participate in the killing", and even have the opportunity to “save" these newcomers.

Chen Qizong also mentioned that the company has been interested in buying more land, the future will be more carefully selected land, but also said that if the average purchase of land every two years has been very comfortable.