Mainland China Management Presentation

Mainland China Property Market 鹹鹹 Tier-1 & Leading Tier-2 cities Will continue to outperform lower tier cities due to population, capital and other resource inflows SHOP H Residential Market in leading cities will be supported by population inflow, urbanisation and rising middle class Retail Challenging conditions, success of projects depends on selecting the right locations and execution expertise Office Oversupply in decentralised locations in a majority of Tier-2 cities 2019 Mainland China Management Presentation SHOP A CENTRAL 7

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