On September 17, 2019, Hang Lung Properties held the ground-breaking ceremony for its project Westlake 66 in Hangzhou, capital of Zhejiang Province, marking the official debut of the Company's 11th large-scale commercial development on the Mainland. Westlake 66 is situated at the prime location of Bai Jing Fang in the Xiacheng District of Hangzhou, the only remaining large-scale site for commercial development in the district, with a site area of approximately 44,800 square meters and a gross floor area of approximately 194,100 square meters. The ground-breaking marks a new milestone for the Company's portfolio expansion on the Mainland. Hang Lung acquired the land site in May 2018. Investment for the project is estimated to reach approximately RMB19 billion. Westlake 66 is located in the center of Bai Jing Fang, which is well served by transport infrastructure and public amenities with high passenger flow. The site will be developed into a high-end commercial complex comprising a world-class shopping mall, five Grade A officer towers and a luxury hotel. The project is planned for completion in phases from 2024. The inspiration of the design of Westlake 66 comes from the famous natural scenery of Hangzhou'sWest Lake. Integrating with the scenic landscape and the city's historical heritage, and complemented by abundant public green spaces, the development is destined to become a world-class landmark. The shopping mall will have a rooftop garden together with the unique green spaces that will connect with the neighboring urban elements, thereby resulting in an integration of nature with the city's metropolitan ambience. The elegant cluster of Westlake 66's towers will be a dazzling addition to the skyline of Hangzhou. The project also preserves two ancient artefacts and some historical buildings, reaffirming Hang Lung's principle of protecting the nation's cultural and architectural history in business operations.