A New Benchmark for Renewable Energy in China's Commercial Real Estate

The portfolio spans 2.65 million sqm of gross floor area. Under China's green power policy framework and electricity market, Hang Lung procures renewable electricity from wind and solar generation sources, obtaining both the power and their green attributes. Hang Lung's whole-building procurement approach covers electricity used by both landlord operations and tenants. This approach supports China's dual carbon goals and helps tenants, including luxury brands, banks and multinational companies, advance their own sustainability commitments. Hang Lung expects to procure approximately 440,655 MWh of renewable electricity across its Mainland portfolio by year-end 2026, avoiding an estimated 227,513 tonnes of greenhouse gas emissions.

The five-year journey to full renewable electricity coverage began at Spring City 66 in Kunming in 2021, with Riverside 66 in Tianjin the latest to make the transition. Along the way, Hang Lung's properties were the first commercial developments to be 100% powered by renewable electricity in Yunnan, Shandong, Liaoning, and Hubei, setting a market-leading example and helping advance renewable electricity adoption across multiple markets in the Chinese Mainland. Achieving this outcome required navigating a complex and rapidly evolving renewable electricity market under tight timeframes. The milestone marks significant progress toward Hang Lung's net zero commitment and its goal of achieving 100% renewable electricity across all operations by 2050.

Mr. Adriel Chan, Chair of Hang Lung Properties and Chair of the Sustainability Steering Committee, commented: "Leadership is defined by delivery, not just ambition. By achieving full renewable electricity coverage across our entire Chinese Mainland portfolio, we're creating value for our business and our tenants, strengthening energy resilience, and doing our part to support China's dual carbon goals."

Ms. Hélène Valade, LVMH Group Environment Development Director, said: "Renewable electricity is a priority for our Group and our Maisons, notably through our LIFE 360 environmental program. Thanks to Hang Lung's commitment, our boutiques and offices now run on 100% green electricity. This milestone highlights the strength of our partnership: when a landlord and a tenant share the same climate ambition, real progress becomes possible. We are very pleased to celebrate this major achievement with Hang Lung."

Mr. Ma Jun, Director of the Institute of Public & Environmental Affairs (IPE), said: "China's electricity markets and policies are evolving quickly. To achieve full renewable electricity coverage for 11 properties in nine cities, Hang Lung has had to overcome a steep learning curve, and its example can now serve as an inspiration to others. We hope more property developers and operators will expand their procurement of renewable energy—an essential step for sector-wide decarbonization—creating sustained market demand and enabling a cleaner and more secure future."

Appendix:

Hang Lung's Renewable Energy Chronology

• December 2021: Spring City 66 in Kunming became Hang Lung's first property – and the first commercial complex in Yunnan Province – to be powered by renewable electricity.
• January 2023: Parc 66 in Jinan became the first commercial property in Jinan and Shandong Province to be powered by renewable electricity.
• April 2024: Plaza 66 and Grand Gateway 66 in Shanghai, together with Center 66 in Wuxi, began using renewable electricity.
• May 2025: Forum 66 and Palace 66 in Shenyang, together with Olympia 66 in Dalian, became the first commercial developments in Liaoning Province to be powered by renewable electricity. Coverage increased to eight Mainland operating properties.
• January 2026: Heartland 66 in Wuhan became the ninth Mainland operating property covered by renewable electricity, and the first commercial complex in Hubei Province to do so.
• May 2026: Westlake 66 in Hangzhou became the tenth Mainland operating property covered by renewable electricity.
• October 2026: Riverside 66 in Tianjin will complete the five-year journey, extending renewable electricity coverage to all 11 of Hang Lung's Mainland operating properties.

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