Shui On Land (00272): Enter into a joint venture arrangement for the redevelopment project in Pudong New Area, Shanghai

SHUI ON LAND (00272) announced that on November 19, 2025, Shanghai Ruian Urban Renewal (a subsidiary of the company) has entered into a shareholder agreement with Shanghai Lujiazui Finance & Trade Zone Development, Shanghai Pudong Real Estate, and a joint venture company in Shanghai Sanlin (proposed name will be Shanghai Sanlin Newland Pharmaceutical Urban Renewal Construction Co., Ltd) for a redevelopment project on a plot of land in Sanlin Town, Pudong, Shanghai. The joint venture company will be owned by Shanghai Lujiazui Finance & Trade Zone Development (40%), Shanghai Ruian Urban Renewal (39%), Shanghai Pudong Real Estate (11%), and Shanghai Sanlin (10%). The plot of land is located in Sanlin Town, Pudong, Shanghai, with a total construction area of approximately 723,900 square meters. It is expected to be used primarily for residential and commercial purposes. Sanlin Ancient Town has a rich cultural heritage and beautiful riverside trails, providing the group with a unique opportunity to create a new landmark in the vibrant economic engine of Pudong New Area, Shanghai, and strengthen the company's leading position in urban renewal and commercial development. The nearby high-tech industrial park and the Bund Central Business District attract a large number of middle-to-high income young people and families striving there, and the company expects strong demand for high-end residential products in the area. The Sanlin project will help strengthen the group's urban renewal product line. The group expects that the establishment of the joint venture company will further solidify its leading position in the field of urban renewal in Shanghai, bring impressive property sales revenue, and strengthen the group's financial position.