Seventh residential tower sets all-time sales record for O’ahu’s premier community

HONOLULU, November 4, 2024 (GLOBE NEWSWIRE) — Howard Hughes Holdings Inc. (NYSE: HHH) today announced the opening of Victoria Square^®Ward Village’s seventh residential tower^®the company’s award-winning 60-acre master-planned community in Honolulu. In 2020, Victoria Place recorded the highest sales volume in Ward Village’s history to date, providing momentum for future developments in the community’s master plan. When it opens, Victoria Place is expected to generate the highest revenue of any completed tower in Ward Village’s history.

“When Victoria Place pre-sales began in 2020, they reached an unprecedented pace never before seen in Ward Village, with approximately 70% of units sold in just three months,” said David O’Reilly, President and CEO by Howard Hughes. At the time, sales at Ward Village eclipsed the record set by Victoria Place, while subsequent towers are currently under construction, including The Park Ward Village.^® and Kalae, continue to meet the growing demand for the exceptional quality of life that homeowners seek, with sales for all towers in the community now exceeding $6 billion.

The construction of Victoria Place has fueled economic growth in Hawaii, generating more than $770 million in real gross domestic product, more than $250 million in worker income and nearly $50 million in state tax revenue. State to support essential public services and infrastructure improvements. On average, the project created more than 1,000 jobs per year throughout its development.

“Victoria Place represents a significant step forward in the progression of the Ward Village neighborhood,” said Doug Johnstone, Hawaii region president for Howard Hughes. “It reflects a unique blend of locally inspired with modern design thoughtfully integrated into a natural setting of public open space. We are excited to welcome our new residents to Victoria Place as the Ward Village community continues to grow.

Located on the “front row” of O’ahu’s South Shore, adjacent to Victoria Ward Park and Kewalo Harbor, Victoria Place is inspired by the mid-century architecture of D’Ahu’s most renowned clubs and properties. ‘Honolulu, as well as the rich history of its land and the project’s namesake, Victoria Ward.

Solomon Cordwell Buenz (SCB), an architecture firm at the forefront of urban design, collaborated with Ward Village’s exterior development team to ensure the 40-story tower offers stunning views from each of its 350 buildings one, two and three 2 bedroom houses with a design that is both timeless and contemporary. Interiors by renowned design firm Tihany Design offer custom decors combined with one of Ward Village’s most extensive art collections, inspired by an iconic era in Honolulu history.

Landscaping by world-renowned architect Don Vita of VITA Planning & Landscape Architecture provides iconic open spaces in Victoria Place that enhance the neighborhood’s integration of nature and curated gathering spaces. Through its design, walkability and distinct sense of place, Victoria Place fits seamlessly into the adjacent Victoria Ward Park directly to the west.

Improving green open space throughout Ward Village is a critical part of the award-winning community’s master plan. Ward Village’s newest public gathering place, Victoria Ward Park, offers 3.5 acres of green space dedicated to health, wellness and community connectivity, designed to enhance community programming and sales activations retail that characterizes Ward Village, including the numerous restaurants, cafes, farm markets and shops that provide residents with the exceptional experience of living in an expertly planned community, unique to Hawai’i in its aesthetic and offerings.

About Village-Village®

Ward Village is a 60-acre planned community in the heart of Honolulu, located between Downtown and Waikīkī. Honoring the distinct history of its land, Ward Village is at the forefront of sustainable community development, integrating striking architecture, culture and arts, and public open space. Once fully built out, the community will include thousands of homes and approximately one million square feet of unique retail in what Architectural Digest has named “the best master-planned community in America.” Due to high demand for new housing in urban Honolulu, Ward Village quickly sold its first seven mixed-use residential towers-Waiea^®Anaha^®Ae’o, Ke Kilohana^®‘A’ali’i^®Kō’ula^®and Place Victoria^®– transforming the popular shopping and dining district into a thriving mixed-use neighborhood with ocean views and open spaces, including its newest outdoor gathering place, Victoria Ward Park. New residential buildings in development or construction include Ulana Ward Village^®The park district village^®and Kalae. Most recently approved by the Hawai’i Community Development Authority (HCDA), Launiu Ward Village will be the latest mixed-use development to join the neighborhood.

About Howard Hughes Holdings Inc.

Howard Hughes Holdings Inc. owns, manages and develops commercial, residential and mixed-use real estate throughout the United States. Its award-winning assets include the nation’s preeminent portfolio of master-planned communities, as well as operating properties and development opportunities, including downtown Columbia.^® in Maryland; The woods^®Bridgeland^® and the Woodlands hills^® in the Greater Houston, Texas area; Summerlin^® in Las Vegas; Village area^® in Honolulu, Hawaii; and Teravalis in the Greater Phoenix, Arizona area. The Howard Hughes portfolio is strategically positioned to respond and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to the creation of innovative places, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. Howard Hughes Holdings Inc. is listed on the New York Stock Exchange as HHH. For more information, visit www.howardhughes.com.

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as “will”, “believe”, “expect”, “enable”, “achieve”, “plan “, “intend”, “assume”, “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions and projections as of the date of this press release. and do not constitute guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are discussed as risk factors in Howard Hughes Holding Inc.’s securities filings. Exchange Commission, including its quarterly and annual reports. Howard Hughes Holdings Inc. cautions you not to place undue reliance on the forward-looking statements contained in this release. Howard Hughes Holdings Inc. does not undertake to publicly update or revise any forecasts. -forward-looking statements to reflect future events, information or circumstances occurring after the date of this release.

Media Contact:

Howard Hughes Holdings Inc.

Cristina Carlson, 646-822-6910

Senior Vice President, Head of Corporate Communications

(email protected)

Investor Relations Contact

Howard Hughes Holdings Inc.

Eric Holcomb, 281-475-2144

Senior Vice President, Investor Relations

(email protected)

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