URA

129 (expressed in Hong Kong Dollars) NOTES TO THE FINANCIAL STATEMENTS 14. Balances with joint development projects (Continued) Actual Expected Total gross completion completion floor area date date Project Name/Location Land use (m 2 ) (calendar year) (calendar year) Kowloon City Road/ Commercial/Residential 12,455 – 2021 Sheung Heung Road (Ma Tau Kok) Kwun Tong Town Centre Commercial/Residential 175,288 – 2021 Areas 2 and 3 (Kwun Tong) Pine Street/Oak Street Commercial/Residential 6,594 – 2021 (Tai Kok Tsui) Peel Street/ Commercial/Stadium and 9,600 – 2022 Graham Street – Site A Youth Centre/Residential (Sheung Wan) @ Peel Street/ Commercial/Office/ Hotel 41,585 – 2022 Graham Street – Site C (Sheung Wan) @ Reclamation Street/ Commercial/Residential 12,510 – 2022 Shantung Street (Yau Ma Tei) * Projects with commercial portions jointly held by the developer and the Group for letting and pending for sale # Owner participation project @ Newly awarded project during the year The Group is entitled to returns which are predetermined in accordance with the provisions of the joint development agreements. In respect of the commercial portions of certain projects, the Group has reached supplemental agreements with the respective developers to extend the sale of the commercial portions to a few years after the issuance of the occupation permits. The Group shares certain percentage of any net proceeds derived from the operation of the commercial portions before the sale and includes it as surplus for the year and would also share the future sales proceeds at the same ratio. The Group would account for its share of sales proceeds as surplus from the joint development projects when these commercial portions are sold in the future.