Howard Hughes Holdings Inc. - HHH STOCK NEWS

Howard Hughes Holdings (NYSE: HHH) has announced the opening of Victoria Place, the seventh residential tower in Ward Village, their 60-acre master planned community in Honolulu. The project achieved record-breaking sales in 2020, with approximately 70% of units sold within three months. The 40-story tower features 350 homes and is expected to generate the highest revenue of any completed tower in Ward Village history.

The construction generated over $770 million in real GDP, $250 million in workers' earnings, and created more than 1,000 jobs annually. The development includes Victoria Ward Park, offering 3.5 acres of green space, and features architecture by Solomon Cordwell Buenz, interiors by Tihany Design, and landscaping by Don Vita. Total sales across all Ward Village towers now exceed $6 billion.

Howard Hughes Holdings Inc. (NYSE: HHH) has achieved the top ranking in its peer group of Americas Diversified Listed real estate companies by the Global Real Estate Sustainability Benchmark (GRESB) for 2024. This recognition is part of the GRESB Real Estate Assessment's Standing Investments Benchmark, which evaluates performance indicators such as risk management, energy consumption, water use, and stakeholder engagement.

The company's commitment to sustainability is further evidenced by its recent validation of near-term emissions reduction targets by the Science Based Targets initiative (SBTi). Howard Hughes has set targets to reduce Scope 1, 2, and 3 emissions across its business segments, aligning with the Paris Agreement's goal to limit global warming to 1.5°C.

Notable achievements include a 25% reduction in water intensity and a 20% reduction in energy-related emissions across the Howard Hughes portfolio from 2022 to 2023. These efforts demonstrate the company's dedication to responsible development and environmental stewardship in its national portfolio of communities.

Howard Hughes Holdings Inc. (NYSE: HHH) has announced the dates for its 2024 third quarter earnings release and conference call. The company will release its earnings on Monday, November 4, 2024, after the market closes. The earnings conference call is scheduled for Tuesday, November 5, 2024, at 12:00 PM Eastern Time.

Investors can access the earnings release on the Investors section of the company's website prior to the call. The conference call will be available via live webcast on the Howard Hughes website. Those wishing to participate in the Q&A session can pre-register on HHH's earnings call registration website to receive dial-in information and a PIN for access. An on-demand replay of the call will be available on the company's website for one year following the live call.

Howard Hughes Holdings Inc. (NYSE: HHH) has broken ground on The Ritz-Carlton Residences, The Woodlands, a luxury condominium project in Texas. Located 27 miles north of Downtown Houston, the development has seen unprecedented sales momentum with 69% of homes pre-sold. The project, designed by Robert A.M. Stern Architects, is situated on the last large-scale residential site on Lake Woodlands.

The development features approximately 15,000 square feet of indoor wellness experiences and three acres of outdoor amenities, including 1,200 feet of private lakefront shoreline. As the first stand-alone Ritz-Carlton condominiums in Texas, it aims to set a new standard for luxury living in the region. The project's sales success has surpassed expectations, with prices per square foot reaching unprecedented levels in the Houston market.

Summerlin®, a Howard Hughes Holdings Inc. (NYSE: HHH) community in Las Vegas, has become Nevada's first master planned community to achieve LEED precertification from the U.S. Green Building Council (USGBC). This recognition highlights Summerlin's commitment to sustainability, conservation, and quality of life.

Key achievements include:

• Water conservation: 638,100 sq ft of decorative grass removed, saving 35 million gallons annually
• Carbon footprint: 3.3 metric tonnes per person per year, 78% less than national average
• Waste production: 62% less than national average
• Average work commute: Less than 10 minutes

Summerlin joins other Howard Hughes communities in Texas, Maryland, and Hawaiʻi in receiving USGBC recognition, making Howard Hughes one of the largest holders of LEED precertified or certified community portfolios in the U.S., covering over 62,000 acres.

Howard Hughes Holdings Inc. (NYSE: HHH) has appointed Charley Freericks as President of the Phoenix Region. Freericks, a real estate industry veteran with over 40 years of experience, will lead the development of Teravalis™, a new 37,000-acre community in the Phoenix West Valley. Teravalis is expected to provide 100,000 homes for 300,000 residents and 55 million square feet of commercial development at full buildout. The first residential village, Floreo, is set to open in 2025 with 5,000 homes. Freericks brings extensive experience in large-scale community development and was previously Senior Vice President at Catellus Development He is actively involved in various non-profit organizations and industry associations in Arizona.

Howard Hughes Holdings Inc. (NYSE: HHH) has announced that its largest stockholder, Pershing Square Capital Management, L.P., is evaluating the possibility of taking the company private. Pershing Square, which owns approximately 37.5% of HHH's outstanding common stock, stated in a regulatory filing that it may acquire all or substantially all of the remaining shares, potentially with co-investors.

In response, HHH's Board of Directors has formed a Special Committee of independent directors to review any proposal from Pershing Square and evaluate it against other strategic alternatives, including remaining a public company. The Board and Special Committee are committed to acting in the best interests of HHH and its stockholders. However, there is no guarantee of any particular outcome, and HHH will not comment further until additional disclosure is deemed necessary or required by law.

Howard Hughes Holdings' communities Summerlin and Bridgeland have been ranked among the top-selling master planned communities (MPCs) in the U.S., according to RCLCO's mid-year 2024 report. Summerlin, in Las Vegas, ranked #5 with 596 new homes sold, while Bridgeland, in Greater Houston, ranked #8 with 498 new homes sold.

Howard Hughes (NYSE: HHH) reports strong results, with a 163% increase in residential land sales revenues and a 35% increase in average price per acre compared to mid-year 2023. The company expects 2024 to be its best year for residential land sales in terms of price-per-acre and acres sold.

Both communities offer high-quality lifestyles, extensive amenities, and diverse housing options. Summerlin spans 22,500 acres with a growing job market, while Bridgeland features over 3,000 acres of parks and green spaces. The RCLCO report highlights that sales among top MPCs outperformed the broader new home market, with Houston and Las Vegas being the top-performing metropolitan areas.

Seaport Entertainment Group Inc. (NYSE American: SEG) has completed its separation from Howard Hughes Holdings Inc. (NYSE: HHH) and is now an independent, publicly traded company. SEG's portfolio includes the historic Seaport neighborhood in Lower Manhattan, Las Vegas Ballpark, the Las Vegas Aviators baseball team, a 25% stake in Jean-Georges Restaurants, and air rights above the Fashion Show mall in Las Vegas.

Anton D. Nikodemus, an industry veteran with experience in developing premier entertainment destinations, leads SEG as President, CEO, and Chairman. The separation was accomplished through a pro rata distribution of SEG shares to Howard Hughes stockholders, with one SEG share issued for every nine Howard Hughes shares held on July 29, 2024. SEG aims to redefine the entertainment experience by leveraging its unique assets and partnerships in top-tier markets.