The Entertainment Corporation Limited (“TECL”) announced today, the commencement of its three-year tenancy as the new operator of the Hong Kong Observation Wheel site and confirmed the new ticket price per ride at HK$20 each. TECL have also named AIA Group (“AIA”), the largest independent publicly listed pan-Asian life insurance group, through its subsidiary, as the exclusive Principal Sponsor of the Hong Kong Observation Wheel and its ancillary facilities. The Wheel will now be known as “The Hong Kong Observation Wheel Presented by AIA” and will be enhanced by an adjoining, newly created AIA Vitality Park, resulting in a unique destination for visitors to the Central Harbour Front.

The landmark attraction will now be accessible at greatly reduced ticket prices from those previously available. Discounts will be available for seniors and children under three years of age will have free entry, which all contributes to making the experience more affordable to Hong Kong residents and visitors than ever before.

The AIA Vitality Park at The Hong Kong Observation Wheel, as it will be known, will host, free of charge, a range of health and wellness-related activities and events for the public starting 2018 throughout the year. It will also host a number of bigger, special attractions to engage the local community and visitors, bringing to life this iconic location to create a genuine destination attraction for the millions of people that visit Hong Kong's waterfront every year.

TECL and AIA will announce the date of the official opening ceremony in the coming weeks.

Stuart A. Spencer, Group Chief Marketing Officer, AIA, commenting on the partnership, said:

“AIA is very proud to be headquartered in Hong Kong and we are delighted to be in a position to help reopen The Hong Kong Observation Wheel.

“Our support for this landmark attraction, making it substantially more affordable with tickets at HK$20 per ride, along with the creation of the AIA Vitality Park at the Hong Kong Observation Wheel, to which the general public will be able to access for free, are important ways by which AIA can reinforce its commitment to helping people live longer, healthier and better lives. 

“We will be working closely with our partner, TECL, over the coming months to ensure that we deliver on our shared vision to develop The Hong Kong Observation Wheel and the AIA Vitality Park to their maximum potential with the aim of providing a unique experience for our customers, employees, financial planners and the wider community in the years to come.”

Michael Denmark, Chief Executive Officer, TECL, commenting on the partnership, said:

“AIA and TECL are aligned in our shared vision for one of Hong Kong's most iconic landmarks.

“Making Hong Kong's spectacular Harbour Front and internationally-recognised skyline more accessible, and vital to everyone, is our common objective.”

 

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AIA Group Limited and its subsidiaries comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, Cambodia, a 97 per cent subsidiary in Sri Lanka, a 49 per cent joint venture in India and a representative office in Myanmar.

The business that is now AIA was first established in Shanghai almost a century ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$200 billion as of 31 May 2017. 

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. AIA also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 30 million individual policies and over 16 million participating members of group insurance schemes.

AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).