HONG KONG SAR -�Media OutReach�- 28 December 2021 - Pursuant to an order for sale made by the Lands Tribunal under the Land (Compulsory Sale for Redevelopment) Ordinance, Cushman & Wakefield Limited ("C&W") conducted a public auction of Nos. 1, 3, 5 & 7 Po Tuck Street, Sai Ying Pun today.� The Property was successfully sold to Famous Concept Development Limited at HK$377,000,000.

The Property is located at the junction of Po Tuck Street and Hill Road in Sai Ying Pun and was built in 1966.� It constitutes an 8-storey composite building.� The ground floor units of the building are devoted for retail shops and each of the upper floors accommodate residential flats.� The site area is about 3,005 sq.ft.

The Property is currently zoned as "Residential (A)" under Approved Sai Ying Pun & Sheung Wan Outline Zoning Plan No. S/H3/34.

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About Cushman & Wakefield

Cushman & Wakefield is a leading global advisory services firm that delivers exceptional value for real estate occupiers and owners, with approximately 50,000 employees in over 400 offices and 60 countries. In Greater China, a network of 22 offices serves local markets across the region, earning recognition and winning multiple awards for industry-leading performance. The firm had global revenues of US$7.8 billion in 2020 across core services including valuation, consulting, project & development services, capital markets, project & occupier services, industrial & logistics, retail and others. To learn more, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china)

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The issuer is solely responsible for the content of this announcement.