Shimao Property : Redemption of Senior Notes Due 2022

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No securities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. The Company does not intend to make any public offering of securities in the United States.

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 813)

REDEMPTION OF SENIOR NOTES DUE 2022

Reference is made to the announcements of Shimao Property Holdings Limited (the "Company") dated 4 February 2015 and 11 March 2015 (the "Announcements") in relation to the issuance of 8.375% senior notes due 2022 (the "2022 Notes"). Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the Announcements.

Pursuant to the terms of the Indenture dated 10 February 2015 (as amended and/or supplemented), among the Company, the entities set forth in Schedule I thereto as Subsidiary Guarantors, the JV Subsidiary Guarantors party thereto and Citicorp International Limited as Trustee (the "Trustee") in connection with the issuance of the 2022 Notes, the Company announces today that it has informed the Trustee that the 2022 Notes with an aggregate principal amount of US$550,000,000 will be redeemed on 11 February 2019 (the "Redemption Date") at a redemption price equal to 104.188% of the principal amount thereof, plus accrued and unpaid interest, if any, to (but not including) the Redemption Date (the "Redemption Price").

As of the date of this announcement, the outstanding principal amount of the 2022 Notes is US$1,100,000,000.

Upon redemption of an aggregate principal amount of US$550,000,000 of the 2022 Notes on the Redemption Date, the outstanding principal amount of the 2022 Notes will be US$550,000,000.

On behalf of the Board Shimao Property Holdings Limited

Hui Wing Mau

Chairman

Hong Kong, 10 January 2019

As at the date of this announcement, the Board comprises three Executive Directors, namely, Mr. Hui Wing Mau (Chairman), Mr. Hui Sai Tan, Jason (Vice Chairman) and Ms. Tang Fei; one Non-executive Director, namely, Mr. Liu Sai Fei; and three Independent Non-executive Directors, namely, Ms. Kan Lai Kuen, Alice, Mr. Lu Hong Bing and Mr. Lam Ching Kam.