Swire Properties announced a plan to acquire the remaining 50% stake of Sino-Ocean Taikoo Li Chengdu from Sino-Ocean Group for RMB5.55 billion, as the Company continues to strengthen its market presence in the Chinese Mainland. Tim Blackburn, Chief Executive, Swire Properties, said that the flagship Chengdu project represented an important part of the Company’s growth strategy, underscoring its confidence and commitment to the Chinese Mainland. According to a Company spokesperson, the mixed-use development, which has become a popular tourist attraction, will see some “strategic upgrade” in the mix of luxury brand retailers operating in its shopping mall. The acquisition is expected to contribute immediate income and create long-term value for shareholders.