Shui On Land : ANNOUNCEMENT - PROPERTY SALES UPDATE FOR THE MONTH ENDED 31 DECEMBER 2018

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Shui On Land Limited 瑞安房地產有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 272)

ANNOUNCEMENT

PROPERTY SALES UPDATE

FOR THE MONTH ENDED 31 DECEMBER 2018

This announcement is made by Shui On Land Limited (the "Company", together with its subsidiaries and associates, the "Group") pursuant to the Inside Information Provisions (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) under Part XIVA of the Securities and Futures Ordinance (Cap. 571) and Rule 13.09(2)(a) of the Listing Rules.

The Company wishes to provide to its shareholders the attached property sales update which contains certain operating data of the Group for the month ended 31 December 2018 (the "Property Sales Update"). The Property Sales Update is also available on the website of the Company (www.shuionland.com). The Property Sales Update has been prepared on the basis of internal management records. It has not been audited or reviewed by external auditor, and as such the data is for investors' reference only. The Property Sales Update is not an offer or solicitation for the purchase or sale of any securities or financial instruments or to provide any investment service or investment advice.

Shareholders of the Company and potential investors should exercise caution when investing in or dealing in the securities of the Company.

By Order of the Board Shui On Land Limited

Vincent H. S. LO

Chairman

Hong Kong, 9 January 2019

At the date of this announcement, the executive directors of the Company are Mr. Vincent H. S. LO (Chairman), Mr. Douglas H. H. SUNG (Chief Financial Officer) and Ms. Stephanie B. Y. LO; the non-executive director of the Company is Mr. Frankie Y. L. WONG; and the independent non-executive directors of the Company are Sir John R. H. BOND, Dr. William K. L. FUNG, Professor Gary C. BIDDLE, Dr. Roger L. McCARTHY, Mr. David J. SHAW and Mr. Anthony J. L. NIGHTINGALE.

* For identification purposes only

Shui On Land Limited 瑞安房地產有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 272)

PROPERTY SALES UPDATE

FOR THE MONTH ENDED 31 DECEMBER 2018

For the year 2018, the Group's accumulated contracted property sales and other assets disposal amounted to RMB22,279 million, an increase of 4% compared to the year 2017

Unaudited data for the year 2018:

For the year ended December	Contracted property sales (RMB million)	Year-on- Year change (%)	Contracted property sales sold area (sq. m.)	Year-on- Year change (%)	Other assets disposal (RMB million)	Year-on- Year change (%)	Total contracted sales (RMB million)	Year-on- Year change (%)
2018	14,530	40%	361,000	47%	7,749	-29%	22,279	4%
2017	10,415		245,400		10,951		21,366

January to December accumulated contracted property sales and other assets disposal amounted to RMB22,279 million for the year 2018, comprising residential property sales of RMB14,120 million, commercial property sales of RMB410 million and other assets disposal of RMB7,749 million, respectively.

Aggregated GFA sold for contracted property sales for the year 2018 reached 361,000 sq. m. with the average selling price of RMB40,200 per sq. m. In addition, 1,538 units of carpark were sold in the year 2018.

In December 2018, contracted property sales amounted to RMB1,835 million, comprising residential property sales of RMB1,577 million and commercial property sales of RMB258 million, respectively.

In December 2018, total gross floor area ("GFA") of contracted property sales were 62,000 square metres ("sq. m.") and 400 units of carpark.

The average selling price of the signed contracts respecting property sales for December 2018 was RMB29,600 per sq. m.

In addition to the contracted property sales and other assets disposal reported above, as of 31 December 2018, the Group had recorded a total of RMB358 million of subscribed sales, which is expected to be subsequently turned into contracted property sales in the following months.

Note: This Property Sales Update has been prepared on the basis of internal management records. It has not been audited or reviewed by external auditor, and as such the data contained herein is for investors' reference only.

* For identification purposes only