Tai Sang Land Development Celebrates Golden Jubilee

HONG KONG SAR - Media OutReach - 21 February 2023 - Tai Sang Land Development Limited (Tai Sang Land; Stock Code: 89, Listed on The Stock Exchange of Hong Kong Limited) today celebrates its 50th anniversary as a listed company. Tai Sang Land has sailed through the peaks and troughs alongside Hong Kong for over half a century. In honour of its Golden Jubilee and many more fruitful years to come, the Company is launching a series of giveaways for Hong Kong residents to enjoy free drinks and stays at the Arca hotel in Wong Chuk Hang.

Rooted in Hong Kong; devoted to Hong Kong

Deeply rooted in Hong Kong for over 50 years, Tai Sang Land strongly values stability while also seeking to excel by making proactive changes. It continuously endeavours to develop a wide variety of quality property projects and services, advancing together with the economy of Hong Kong. "Tai Sang Land Development Limited" was founded by the late Mr. Ma Kam Chan, and its shares were listed on the Far East Exchange Limited and the Kam Ngan Stock Exchange Limited with a net asset value of approximately HK$160 million on 21st February 1973.

As the Hong Kong economy took off in the 1970s and 1980s, property demand also skyrocketed. Tai Sang Land developed an array of residential, industrial and warehouse, and commercial properties in the districts of North Point, Sai Wan, Aberdeen, Stanley, Kwun Tong and Kwai Chung, etc. Tai Sang Land also expanded into such other businesses as insurance and, in particular, because manufacturing and trading were the pillars of the Hong Kong economy at the time, Tai Sang Land also aggressively expanded into warehousing services, with a network occupying over 1 million square feet of warehouse space to cover the whole territory, and became the single largest operator of warehousing services at the time. Expanding into the international market, in the mid-1980s Tai Sang Land also built Montgomery Plaza, a high-rise office tower constructed atop a historical landmark in San Francisco, California, USA.

Striving for excellence through diversifying business streams

As the economy of Hong Kong gradually moved from manufacturing towards commercialisation in the late 1980s and 1990s, Tai Sang Land also shifted its strategies. Apart from purchasing residential land plots on The Peak, developing a composite building in Sai Wan and a luxury residential project, Floral Villas, in Sai Kung; as well as an industrial building in Shatin for sale and for leasing purposes, the Company gradually moved its strategy towards investment properties, and has amalgamated a quality property portfolio comprising residential, commercial, offices, warehouses and industrial properties as long-term holdings. Towards the end of the 1990s and end of the millennium, the Company progressively optimised and renovated its investment properties in order to enhance values. It carried out a substantial enhancement project for Tai Sang Container and Godown Centre in 2012 and rebranded it as Gateway ts, successfully transforming the property into a mixed-use building to attract professional and high-quality tenants.

Hong Kong's tourism industry stepped into its golden age in 2004-2014, when the number of inbound visitors ballooned from some 21.8 million in 2004 to 60.83 million per annum in 2014. Riding on this momentum and the accelerated market demand, Tai Sang Land expanded into the hospitality industry with some floors of Hollywood Centre in Sheung Wan as its first hotel project, putting it into service in 2011. In order to reposition itself in the hospitality field, Tai Sang Land established Yulan Group Limited to provide a new standard in modern hospitality. Since 2019, Yulan Group has completed another enhancement project for the hotel at Hollywood Centre and rebranded it as the Figo in 2020, and also developed the Arca in 2021, by demolishing an industrial building, as a reflection of its service diversification and continual advancement.

Mr William Ma, Chairman and Chief Executive of Tai Sang Land Development Limited, said: "Upholding our determination to pursue excellence amidst steady growth, Tai Sang Land has walked hand-in-hand with Hong Kong for over 50 years, with its net worth rising 55 times over the years (to HK$9.03 billion as of 30th June 2022). Looking ahead, we are fully optimistic about the future of Hong Kong and Hong Kong will remain "Home" for Tai Sang Land. There will be many mega infrastructure development schemes coming up in Hong Kong. We will remain dedicated to exploring business opportunities, and we will stand strong in delivering exceptional service to exceed expectations, to cater to the ever-changing market demand, and to uphold and enhance values."

Free giveaways to celebrate the Golden Jubilee with Hongkongers

To celebrate Tai Sang Land's Golden Jubilee and its shared history with Hong Kong of over 50 years, the Arca is running a giveaway of hotel packages and beverages.

Promotion 1 - Giveaway of 500 Happy Hour beverages

• Starting from 26th February 2023, the first 250 customers registering on this website will get 2 beverages for free. Customers can redeem any beverage on the Happy Hour menu in Arca Society on the following dates: 9^th, 16^th, 23^th or 30^th March.
• Terms & conditions:
  • Customer can redeem the beverage from 3-8pm
  • Each customer is limited to redeeming 2 beverages in one go
  • Promotion is limited to the first 250 customers only and is available on a first come first served basis
  • The Arca reserves the right of revision on all terms and conditions. Program is subject to change without prior notice.
  • Employees of Tai Sang Land Development Limited and immediate family members shall not be entitled for the promotion
  • In case of disputes, the Arca reserves the right of final decision.
  • For more details, see "website"

Promotion 2 - Giveaway of the Arca sea-view room x 1 night

• Starting from 26th February 2023, the first 50 customers registering on this website will get an one-night stay at Sea Signature Room with complimentary breakfast for 2. Customers can redeem the promotion within 3 months.
• Terms & conditions:
  • Each eligible customer can only redeem the promotion once
  • Promotion is limited to the first 50 customers only and is available on a first come first served basis
  • The Arca reserves the right of revision on all terms and conditions. Program is subject to change without prior notice.
  • Employees of Tai Sang Land Development Limited and immediate family members shall not be entitled for the promotion
  • In case of disputes, the Arca reserves the right of final decision.
  • For more details, see "website"

Hashtag: #TaiSang

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

About Tai Sang Land Development Limited

Tai Sang Land Development Limited (Stock Code: 89, Listed on The Stock Exchange of Hong Kong Limited) is a limited liability company incorporated in Hong Kong. Main business operations involve asset investment, property leasing and development, property management and property agency, and hospitality operations.

At Tai Sang Land, we value tradition and appreciate change; we embrace progress and strive for excellence by proactively and continuously improving. We are committed to developing and enhancing our property portfolio to cater to the demands of the ever-changing property market and to upholding and uplifting our values.