Shimao Property Holdings Ltd. announced that Mr. Xu Younong tenders notice that he will retire as an Executive Director of the Company with effect from 15 January 2016 after 15 years of service to the Group and his nearly attainment of retirement age. Mr. Xu Younong accepted the invitation from the Board of the Company that he will serve as a consultant of the Company upon his retirement to continue to contribute his expertise and experience to the Group. Mr. Kan Naigui has been appointed as Executive Director of the Company with effect from 15 January 2016.