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Hang Lung Properties is driving sustainable construction forward by procuring 1,200 tonnes of low carbon emissions steel, covering 95% of the reinforcing steel bars, in a key tunnel of Westlake 66 project in Hangzhou. Supplied by Baoshan Iron & Steel Co., Ltd., the steel combines renewable energy and recycled steel scrap to achieve a 50% reduction in carbon emissions compared to conventional alternatives. 

This initiative advances the Company’s leadership in sustainable construction, following its earlier successful use of low carbon emissions steel in the Pavilion Extension of the flagship Plaza 66 in Shanghai. Altogether, the Company has procured almost 2,700 tonnes of low carbon emissions steel in Shanghai and Hangzhou projects in 2024 and 2025, with a combined 45% reduction in carbon emissions.

Hang Lung remains committed to supporting steel decarbonisation through its procurement efforts and through its involvement in the real estate steel sector collaborative initiative convened by China Iron and Steel Association, World Steel Association, and Urban Land Institute.

The Plaza 66 Pavilion Extension procurement was the first commercial real estate project in mainland China to incorporate low carbon emissions steel.

For more information on that transaction, please see here: https://www.hanglung.com/en-us/media/press-releases/2024/20241127