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Equity Residential Provides Operations Update

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Equity Residential (NYSE: EQR) today provided various quarter-to-date (QTD) statistics related to its Residential same store operations for the second quarter 2020.

Preliminary Second Quarter 2020 to Date Residential Same Store Operating Statistics

These preliminary statistics along with the comparative numbers for the first quarter of 2020 are set forth below:

Q2 2020 QTD

 

Q1 2020

New Lease Change

(4.8%)

 

(0.7%)

Renewal Rate Achieved

1.5%

 

4.2%

Blended Rate

(0.7%)

 

1.8%

The Company continues to experience a recovery in demand with initial leads, Traffic and applications now in-line with the same period last year. This increased activity has led to improvements in Physical Occupancy, which is 94.9% quarter to date. During May 2020, Residential Cash Collections remained strong and consistent with April 2020.

Definitions:

Blended Rate – The weighted average of New Lease Change and Renewal Rate Achieved.

New Lease Change The change in rent for a lease with a new or transferring resident compared to the rent for the prior lease of the identical apartment unit, regardless of lease term and without concessions or discounts being applied.

Physical Occupancy “ The weighted average occupied apartment units for the reporting period divided by the average of total apartment units available for rent for the reporting period.

Renewal Rate Achieved The change in rent for a new lease on an apartment unit where the lease has been renewed as compared to the rent for the prior lease of the identical apartment unit, regardless of lease term and without concessions or discounts being applied.

Residential “ Consists of multifamily apartment revenues and expenses.

Residential Cash Collections – “ Represents the amount of Residential cash collected for all properties from all current and former residents during a specified month.

Traffic – Consists of an expression of interest in an apartment by completing an in-person tour, self-guided tour or virtual tour that may result in an application to lease.

About Equity Residential

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of rental apartment properties located in urban and high-density suburban communities where todays renters want to live, work and play. Equity Residential owns or has investments in 305 properties consisting of 78,927 apartment units, located in Boston, New York, Washington, D.C., Seattle, San Francisco, Southern California and Denver. For more information on Equity Residential, please visit our website at www.equityapartments.com.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements and information within the meaning of the federal securities laws. These statements are based on current expectations, estimates, projections and assumptions made by management. While Equity Residentials management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks, including, without limitation, changes in general market conditions, including the rate of job growth and cost of labor and construction material, the level of new multifamily construction and development, competition and local government regulation. In addition, these forward-looking statements are subject to risks related to the COVID-19 pandemic, many of which are unknown, including the duration and severity of the pandemic, the extent of the adverse health impact on the general population and on our residents, customers and employees in particular, its impact on the employment rate and the economy and the corresponding impact on our residents and tenants ability to pay their rent on time or at all, the extent and impact of governmental responses and the impact of operational changes we have and may implement in response to the pandemic. Other risks and uncertainties are described under the heading Risk Factors in our Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC) and available on our website, www.equityapartments.com. Many of these uncertainties and risks are difficult to predict and beyond managements control. Forward-looking statements are not guarantees of future performance, results or events. Equity Residential assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Marty McKenna (312) 928-1901

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Lead8 Design for Newly Unveiled ‘11 SKIES’ in Hong Kong

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Hong Kong’s $20 Billion Mixed-use Destination at SKYCITY

 

HONG KONG SAR – Media OutReach – 25 November 2020 – Lead8, the international award-winning design firm, is excited to announce the firm’s appointment as Lead Consultant on ’11 SKIES’ has been extended to include Interior Design alongside its Masterplanning and Architecture scope.

11 SKIES, the brand new HK$20 billion mixed-use destination at SKYCITY, will be Hong Kong’s largest hub for Retail, Dining and Entertainment (RDE), and the first such development to combine wealth management and wellness services. The latest designs and name were unveiled this week by New World Development.

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“Lead8’s multi-disciplinary undertaking as Masterplanners, Architects and Interior Designers on 11 SKIES has been an incredible achievement. This is a ground-breaking development which continues to attract international interest. It is a testament to the commitment, creativity and expertise of our team that we have been entrusted to design and deliver the city’s most comprehensive and enhanced RDE destination to date,” said Claude Touikan, Co Founder & Executive Director at Lead8.  

Operated by K11, 11 SKIES is a brand new landmark in Hong Kong for locals and tourists covering a gross floor area of 3.8 million sqft. The destination will feature 2.66 million sqft dedicated to dining and retail outlets and 570,000 sqft for experiential entertainment facilities. There will be over 800 shops including more than 120 dining concepts together with entertainment never seen before in the region, all under one roof.

Notably, the destination has attracted the first launch in Greater China for famous entertainment brand KidZania. Further unique and imaginative entertainment facilities will also be on offer including SkyTrack, the world’s largest indoor and outdoor karting track, a flying theatre, digital media performances and immersive educational experiences. Once complete, 11 SKIES will be the largest indoor entertainment centre in Hong Kong.

As part of the mixed-use development, 11 SKIES also integrates three grade A office towers covering 570,000 sqft which will be operated under K11 ATELIER. They will feature anchor tenancies from five large-scale international institutions in financial services, insurance and health management. As the first to combine wealth management and wellness services within an RDE destination, 11 SKIES aims to provide unique connectivity and redefine the traveller and consumer experience.

Strategically located next to the Hong Kong International Airport, the Hong Kong Zhuhai-Macao Bridge, and the future Tuen Mun-Chek Lap Kok Link, 11 SKIES will benefit from the high volume of passengers travelling through Hong Kong International Airport, and a further 72 million people residing in the GBA. The destination will become a centerpiece within the GBA’s ‘one-hour living circle’ and a gateway to the rest of the world.

Opening in phases from 2022 to 2025, 11 SKIES is set to deliver a first-of-its-kind ecosystem offering brand new experiences for retail, entertainment, dining, wellness and business in Hong Kong and the Greater Bay region. 


Project Details

  • Location: Hong Kong
  • Developer: New World Development Company Limited
  • Size: 3.8 million sqft
  • Masterplan: Lead8
  • Architecture: Lead8
  • Interior Design: Lead8


Image Gallery
All images ©Lead8 Hong Kong Limited

About Lead8

Lead8 is an international design studio with award-winning expertise in architecture, interior design, masterplanning, branding and graphic design. With a team of over 250, the firm works on projects in more than 40 cities around the world from studios in Hong Kong, Singapore, Kuala Lumpur and London. Since its inception, Lead8 has partnered with some of the world’s leading property developers, owners and operators with a portfolio which includes 11 SKIES at Hong Kong International Airport, MixC Shenzhen Bay, One Bangkok and the Shangri-La Mixed-use Development in Fuzhou. 

www.lead8.com

About 11 SKIES

11 SKIES will be Hong Kong’s largest hub for Retail, Dining and Entertainment (RDE), and the first to combine wealth management and wellness services in one complete ecosystem for people in Hong Kong, the Greater Bay Area and the rest of the world. The destination is owned and developed by New World Development Company Limited and operated by K11 Group.


www.11-skies.com

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Senoko Energy Rewards Customers With Delights To Illuminate Holiday Season

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Senoko Energy introduces thoughtfully curated offers & special giveaways to reward customers and brighten up the festive season

 

SINGAPORE  – Media OutReach – 25 November 2020 – Reimagine the holiday celebrations with Senoko Energy, as the authorised electricity retailer kicks off its year-end “Ho-Ho-Home with Senoko” campaign with a series of thoughtfully curated offers and festive giveaways, alongside a cheery Christmas video. While holiday celebrations will certainly look a little different this year with social distancing measures and travel restrictions in place, Senoko Energy seeks to share rewards that will help invigorate celebrations while sparking ways Singaporeans can relish the festivities even as they stay home this season.

 

[View Image]

 

Senoko Energy has released a 3-minute video starring home-grown vocal group MICappella, which seeks to put a spotlight on the many different ways to celebrate the season at home. With the use of imagination and selected rewards from Senoko Energy, the band spends Christmas at home in a uniquely local way with their families, creating endearing memories.

 

As part of the campaign, Senoko Energy is running a social media contest that encourages the public to submit tips on how they plan to reimagine their festive celebrations in the comfort of home. The contest will span over 2 weeks and the 10 most creative entries will stand to win a $50 GrabFood voucher.

 

Heather Ang, Head of Marketing at Senoko Energy said: “With travel restrictions still widely in place, we hope to help keep festivities merry with our rewards, even as our customers celebrate Christmas at home”.

 

“November 2020 also marks the second anniversary of our launch in Singapore’s Open Electricity Market, and we want to take this opportunity to thank our loyal customers for their support with compelling rewards and benefits.” She added.

 

Smart Rewards

To help bring the Christmas cheer to homes through its loyalty programme, Smart Rewards, Senoko Energy has partnered with home & lifestyle brands to offer three festive giveaways:

 

  • 1 lucky customer will stand to win a Thermomix® TM6 and a unique opportunity to enjoy a “Cook & Bond” private cooking session for the whole family (worth over $2,500).
  • 20 customers will also win a specially curated DIY winter-themed terrarium.
  • 800 customers will get to redeem a $10 GrabFood e-voucher

 

Existing customers can participate in these festive lucky draws by submitting their interest within their Senoko Energy online account or via the mobile app.

 

Other highlights within the Smart Rewards programme include discounts from merchant partners such as Fassler Gourmet, RedMart, Lazada, Sonos, BooksActually, etch&bolts, CatchPlay, The Art of Sake, and more, to help kick-start the gift-giving.

 

Heather Ang

Head of Marketing

[email protected]

Nicole Ye

Digital Marketing Manager

[email protected]

About Senoko Energy Pte Ltd

Senoko Energy Pte Ltd provides energy for life to generations of Singaporeans, delivering safe, innovative, and efficient energy supply to customers since 1977. Integral to Singapore’s development, it is a pioneer in power generation and energy solutions, serving Singapore’s energy needs with proven reliable performance.

 

As one of the largest power generation companies by installed capacity in Singapore, Senoko Energy has a licensed capacity of 2,807 megawatts (MW), providing about one-fifth of the nation’s electricity needs. The company launched its retail brand in 2018, offering retail products and services for Singapore households and small and medium enterprises (SMEs) in the Open Electricity Market.

 

Visit www.senokoenergy.com for more information.

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Communications Association of Hong Kong Supports The New Initiatives on Telecommunications Industry in The Chief Executive’s 2020 Policy Address

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New initiatives will be beneficial to the long-term development of innovation and technology and the implementation of the Smart City blueprint

 

HONG KONG SAR – Media OutReach – 25 November 2020 – Communications Association of Hong Kong (CAHK) has expressed positive support to the Chief Executive’s 2020 Policy Address, in particular its new initiatives on Network Development and Wider Application of 5G as highlighted under the “New Impetus to the Economy”.

 

We welcome the Hong Kong SAR (HKSAR) Government’s plan to release more 5G spectrum (currently at 3.5GHz, 4.9GHz, and 3.3GHz ranges) in different frequency bands in 2021 to meet the needs of various 5G applications in terms of speed, capacity and coverage, as cited in the Policy Address. Making available more spectrum to all mobile operators in Hong Kong is fundamental to meeting the ever-increasing demand for mobile data services.

 

In addition, the new initiatives will address the restriction zone issue in the Tai Po area, which is caused by the interference between 5G and the satellite earth station in the 3.5GHz band.  When the telemetry, tracking and control stations of the two satellite operators are relocated from Tai Po to Chung Hom Kok Teleport in four years’ time, the overall 5G coverage in Tai Po will be improved when mobile network operators could deploy the 5G frequency bands in a more holistic and efficient manner. 

 

On the promotion of 5G application, we note from the Policy Address that the HKSAR Government is determined to improve the deployment of 5G technology and application with the extension of the subsidy scheme application period under the Anti-epidemic Fund for six months until May 2021.  Furthermore, the HKSAR Government has also worked with a number of public organisations to encourage the deployment of 5G technology in various sectors to facilitate the early adoption of 5G technology and application in government departments and public organisations. 

 

All these encouraging initiatives are welcomed by us and the industry. These initiatives will also promote the long-term development of innovation and technology and facilitate the implementation of the HKSAR Government’s Smart City blueprint.

About Communications Association of Hong Kong

CAHK is a non-profit making organisation incorporated in Hong Kong on 27 May 1983 following the announcement of deregulation of local communication products and services. It is the association for Hong Kong’s communications industries, with responsibilities across broadcasting, wireline and wireless communications, and other sectors in information communications technology.

For more information, please visit:  www.cahk.hk

This press release is distributed by Communications Association of Hong Kong.

 

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