HONG KONG SAR - Media OutReach Newswire - 17 April 2025 - Hang Lung Properties Limited (SEHK stock code: 00101) (the "Company" or "Hang Lung") is partnering with the Hong Kong Housing Authority to empower young entrepreneurs to pilot their business concepts in a real-world retail environment. Demonstrating its commitment to community investment that fosters the next generation, Hang Lung will offer selected startups six months of rent-free retail space at three of its iconic malls – Peak Galleria, Kornhill Plaza, and Amoy Plaza – under the Well Being · Start-Up 2.0 Programme. "Hang Lung's We Do It Well motto extends to nurturing community wellbeing and guides us to invest in youth development," Mr. Mikael Jaeraas, Senior Director - Retail and Hong Kong Business Operation of Hang Lung Properties, said. "By welcoming young entrepreneurs into our malls, we enrich Hong Kong's retail scene with fresh ideas and entrepreneurial energy. This is a unique opportunity for startups to join a vibrant retail within the Hang Lung portfolio. It is also a chance for shoppers to access exciting new products and services, and another way for Hang Lung to help elevate local creativity, artisanship, and innovation."

Each of the three shopping centers chosen by Hang Lung to host a Well Being · Start-Up 2.0 business offers key ingredients for retail success: high foot traffic and visibility in an accessible location with a distinct consumer profile and community connection. For example, Peak Galleria is a beloved Hong Kong landmark atop Victoria Peak, attracting both local and international shoppers. Kornhill Plaza is a lifestyle shopping destination in the vibrant residential heartland of East Hong Kong, while Amoy Plaza offers one-stop shopping, dining, and entertainment in busy Kowloon East.

In addition to benefitting from proximity to high-profile businesses and participation in Hang Lung's signature mall-wide promotional campaigns, selected startups will receive tailored marketing support from the Company. This may include exposure through the hello Hang Lung Malls App and in-mall advertising.

Entrepreneurs are invited to apply for the Well Being · Start-Up 2.0 Programme on the Hang Lung website between April 28 and May 19, 2025. Participants must be aged 35 years or under and hold a Hong Kong Permanent Identity Card. Selected applicants will be notified at the end of May and able to operate from their allocated shop or pop-up store for six months, with the estimated earliest commencement in July 2025. If a startup earns a net profit during its rent-free retail residency, Hang Lung will collect 20 percent of that profit to support the development of the programme. More details can be found here: https://www.hanglung.com/en-us/sustainability/community-investment/youth-development-and-education/well-being-start-up-programme

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