(Shanghai, January 16, 2024) Hang Lung Properties (SEHK stock code: 00101) (“the “Company” or “Hang Lung”) and The Hang Lung Center for Real Estate at Tsinghua University (“the Center”) successfully hosted the Sustainability in Real Estate Conference 2023 cum Annual Research Results Announcement at the new Civil Engineering Building of Tsinghua University recently. At the conference, the Center’s research achievements in the field of sustainable real estate development over the past year were presented.
Mr. Adriel Chan, Vice Chair of Hang Lung Properties and Chair of the Sustainability Steering Committee, said at the Conference, “The pace of change is faster today than ever, and the real estate sector is also more exposed to disruption than ever before. We must be open to all sources of innovation and new ideas, such as those generated at top Universities like Tsinghua, so that we can quickly adapt. It is a particularly challenging time to be in real estate. But, it is also the best time for us to learn and improve as an industry. I also believe that it presents us with a golden opportunity to bring about structural change. The Center gives academics access to data about real sustainability challenges facing companies, and in turn gives companies access to leading academic research and theories, which can be tested and applied. For both Hang Lung and Tsinghua University, this is where ‘the rubber meets the road,’ and is one of the many ways that this partnership creates value for all stakeholders.”
Professor Liu Hongyu, Vice Director of the Management Committee of The Hang Lung Center for Real Estate at Tsinghua University, also emphasized in his opening speech, “The real estate industry is currently grappling with significant transformational pressures. Driving the improvement of housing and management systems in accordance with the principles of sustainable development is crucial for constructing a new model of real estate development. Real estate enterprises should also adjust their operational strategies under the new institutional and policy frameworks, to promote green and low-carbon development and provide society with higher quality products and services. As a school-level research institution at Tsinghua University, the Center carries the mission of serving as an interdisciplinary platform and disseminating cutting-edge science. In 2023, the Center launched the 'Sustainable Real Estate Scheme’ and the 'Research for ESG Development and the Outlook of the Real Estate Industry'. Going forward, we aspire to continue our collaboration with Hang Lung, providing sustained support for the sustainable development of real estate."
At the conference, Professor Wu Jing, Director of The Hang Lung Center for Real Estate at Tsinghua University, unveiled the "Research for ESG Development and the Outlook of the Real Estate Industry" report. The research, a collaborative effort by the Center, the National Real Estate Chamber of Commerce, and the Urban Construction Special Committee of Tsinghua University Alumni Association, aims to offer insights into the ESG development status, driving forces, and obstacles for real estate professionals. The research report indicates that the overall development of ESG in the current real estate industry is in its initial stages. There is considerable room for improvement in related practices and satisfaction levels, with foreign-funded enterprises and central state-owned enterprises demonstrating the best overall performance in ESG. The future development prospects for ESG in Chinese real estate enterprises are promising, with respondents who have deeper experience showing a greater emphasis on ESG development. Furthermore, companies with higher satisfaction in ESG performance are more willing to increase their investment in this area.
The Center also launched the inaugural “Sustainable Real Estate Scheme” in 2023, to encourage all teachers and researchers at Tsinghua University to engage in innovative and interdisciplinary research in areas such as green and healthy buildings, low-carbon development, smart cities, digital empowerment, and real estate corporate governance, as well as to promote the application of research findings to daily life. The results of the seven research projects were released at the conference, providing forward-looking innovative thinking and solutions for the sustainable development of real estate. It was also announced during the event that the “2024 Sustainable Real Estate Scheme” has officially commenced, and applications from Tsinghua University teachers and researchers are now being accepted.
The Hang Lung Center for Real Estate at Tsinghua University was established in 2010 through a partnership between Hang Lung and Tsinghua University, and is committed to advancing academic research and fostering industry-academia collaboration in the real estate sector. Over more than a decade of growth, the Center has evolved into a pivotal think tank for real estate research and decision support in China. Last year, Hang Lung and Tsinghua University began to deepen the collaboration further, focusing on interdisciplinary industry-academia-research work in the field of sustainable development, innovative applications of real estate technology, and talent cultivation in the industry.
The list of funded projects in the “2023 Sustainable Real Estate Scheme”:
