Shui On Land (00272) acquires the land use rights located in Minhang District, Shanghai, China.

SHUI ON LAND (00272) announced that on January 16, 2026, its indirect non-wholly owned subsidiary, Shanghai Zhaolou, through public listing, entered into a land use rights transfer contract with the institution for the acquisition of the land use rights of a plot in Minhang District, Shanghai, China, for a consideration of RMB 664.3 million (equivalent to approximately HK$7.39 billion). The plot is located in the Zhaolou Project (Redefining Development Project). In terms of public transportation, the location is close to the Shanghai Shenjiahu Expressway and the Shanghai North-South Elevated Road, with convenient access to and from the city center via two subway lines. The Zhaolou Project will preserve the unique historical culture of Pujiang Town in Minhang District, and the plot is expected to develop into a new landmark in Shanghai. The group believes that the acquisition of the plot will be a strategic addition to its land bank, enhancing its market share and influence in the Shanghai residential market. The group will further consolidate its leading position in the urban renewal sector in Shanghai, expecting to generate significant property sales income and strengthening its financial position.