Festival Walk Wins Green Building Award 2010 for Outstanding Sustainability Performance

Swire Properties is pleased to announce that Festival Walk has won the prestigious Grand Award in the Green Building Award 2010’s Existing Buildings – Hong Kong & Asia Pacific Category for continuous efforts in incorporating environmental considerations into its daily operations.

Presented jointly by the Hong Kong Green Building Council and the Professional Green Building Council, this industry-led award recognises excellence in sustainable planning, design, construction and management of buildings. The jury applauded Swire Properties’ overall sustainability strategy implemented at Festival Walk, which has set the Company as a pioneer and innovator of sustainability in facility management.

“We are very pleased to win the Grand Award in the Existing Buildings category, which recognises Swire Properties’ efforts to integrate sustainability into all stages of property development and management. Backed by a professional sustainability and technical team and our network of tenants, suppliers, research partners and management experts, we have been able to make progress on transforming not just Festival Walk but our entire portfolio into low-carbon operations,” said Guy Bradley, Swire Properties’ Chief Operating Officer – Hong Kong. “We have invested not only in areas under our direct control but also in educating and influencing our tenants and stakeholders, and will continue to share our findings with our industry peers.”

The Festival Walk commercial complex includes a 210-shop mall and an office tower, a total gross floor area of 1.2 million sq ft. Swire Properties has invested HK$40 million on various energy efficiency enhancement initiatives in the past 10 years, including replacing chiller plant and installing energy-efficient light fittings at Festival Walk. As a result, the complex has achieved an energy saving of over 30%, which equates to a reduction of over 14 million kWh annually. The carbon emission saving of 10,500 tonnes is the equivalent of planting 450,000 trees.

In order to remain at the leading edge of sustainability technology and to boost its data-driven building management systems, Swire Properties has established three research funds, two with Tsinghua University and one with Hunan University. These research initiatives not only enhance the energy efficiency throughout the Company’s portfolio but also provide valuable data for sharing across the industry.

Swire Properties was the first Hong Kong developer to provide free energy audits to its office tenants in 2008, helping them to identify energy saving opportunities and reduce their carbon footprint. As a result, over 150,000 kWh have been saved on tenants’ premises at Festival Walk alone.

Festival Walk is at the forefront in waste management. From recycling fluorescent tubes, electronic waste and cooking oil to bio-friendly food waste management, Festival Walk demonstrates the long term value of green innovation and building management practices.

As part of its long-term energy management strategy, Swire Properties has set a 10-year energy reduction plan for Festival Walk and its other core buildings, outlining over 300 initiatives that will enhance energy performance. By 2020, the Company expects to reduce its overall energy consumption by 20%.

Festival Walk was the first commercial complex in Hong Kong to attain the BEAM Platinum rating in 2006, the highest rating in the widely recognised scheme.