Hongkong Land’s Entire Central Portfolio Achieves LEED Platinum Rating, Representing 27% of all LEED EBOM Platinum-Certified Buildings in Hong Kong

The developer is now the largest single owner of LEED Platinum grade office buildings in Central

HONG KONG SAR – Media OutReach Newswire – 7 May 2024 – Hongkong Land proudly announces that its Central portfolio buildings in Hong Kong have all achieved LEED for Existing Buildings: Operations & Maintenance (LEED EBOM) Platinum ranking as recognised by the U.S. Green Building Council. LEED EBOM measures actual data from building performance instead of design or simulated data. The result is a testament to Hongkong Land’s longstanding commitment to excellence across property management and upgrading existing buildings in meeting the highest green building standards. This demonstrates that retrofitted buildings can often surpass the requirements of new buildings in terms of energy efficiency standards. In some cases, these upgrades can even achieve higher efficiency standards than newly constructed buildings.

As the single largest owner of LEED EBOM Platinum rated office buildings in Hong Kong, Hongkong Land’s Central Portfolio represents 27% of all LEED for Existing Buildings: Operations & Maintenance (LEED EBOM) Platinum-certified buildings in the city. The Central Portfolio’s LEED EBOM Platinum certification, coming on top of its existing BEAM Plus Platinum certification from the Hong Kong Green Building Council (HKGBC) solidifies Hongkong Land’s position as a leader in sustainable building practices in Hong Kong.

Retrofitting existing buildings has resulted in the average energy utilisation index of Hongkong Land’s offices being within the top 15 percentile of Grade-A offices in Hong Kong and within the top 10 percentile amongst buildings with office and retail components. This clearly demonstrates that retrofitted buildings can achieve the same energy efficiency standards as new buildings without the carbon-intensive process of new construction.

Kenneth Foo, Executive Director at Hongkong Land said, “This recognition clearly demonstrates that you don’t have to be new to be more sustainable. In fact, Jardine House which is home to some of Hong Kong’s most impressive global and local organisations, was completed in 1973 and is the highest performing building in our Central Portfolio across water efficiency, energy efficiency, air quality, and waste diversion.”

These certifications are a result of the ambitious sustainability targets Hongkong Land set in its Sustainability Framework 2030. The Group has set science-based targets approved by the Science Based Targets initiative (SBTi), aiming for an absolute reduction of 46.2% in emissions by 2030 from 2019 levels. Additionally, Hongkong Land is reducing Scope 1 and 2 carbon emissions by 29% against a 2019 baseline. Hongkong Land will release its 2023 sustainability progress report in May, further detailing its progress and setting new targets.

Hongkong Land’s strategy to achieve these targets has been to focus on improving energy efficiency in existing buildings, while also working to monitor and reduce the embodied carbon required for new builds with its bespoke embodied carbon measurement tool. The tool uses a supplier-based approach tailored to supply chains across the region, which allows the identification of carbon saving opportunities across the design, tendering and construction processes. Embodied carbon refers to the carbon dioxide (CO₂) emissions associated with materials and construction processes throughout the entire lifecycle of a building, and can account for up to 50% of the total carbon footprint of a building.

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About Hongkong Land

Hongkong Land is a major listed property investment, management and development group. Founded in 1889, Hongkong Land’s business is built on excellence, integrity and partnership.

The Group owns and manages more than 850,000 sq. m. of prime office and luxury retail assets in key Asian cities, principally Hong Kong, Singapore, Beijing and Jakarta. Its properties hold industry leading green building certifications and attract the world’s foremost companies and luxury brands.

The Group’s Central Hong Kong portfolio represents some 450,000 sq. m. of prime property. It has a further 165,000 sq. m. of prestigious office space in Singapore mainly held through joint ventures, four retail centres on the Chinese mainland, including a luxury retail centre at Wangfujing in Beijing, and a 50% interest in a leading office complex in Central Jakarta. The Group also has a number of high-quality residential, commercial and mixed-use projects under development in cities across China and Southeast Asia, including a 43% interest in a 1.1 million sq. m. mixed-use project in West Bund, Shanghai. Its subsidiary, MCL Land, is a well-established residential developer in Singapore.

Hongkong Land Holdings Limited is incorporated in Bermuda and has a primary listing in the standard segment of the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Group’s assets and investments are managed from Hong Kong by Hongkong Land Limited. Hongkong Land is a member of the Jardine Matheson Group.