On 27 November 2022, Swire Properties announced the opening of ZHANGYUAN – Shanghai's first urban regeneration project to implement protective expropriation and historical restoration. Swire Properties participated in ZHANGYUAN's design, leasing, operation and management and marketing planning. The Company's involvement in the revitalisation project reflects its continuous investment in Shanghai and the Chinese Mainland.

ZHANGYUAN West Zone is now open to the public as the first phase of this unique project. The West Zone is divided into eight clusters, including 16 historical buildings and three garden-style villas.

Tim Blackburn, Chief Executive of Swire Properties, said that ZHANGYUAN would play an important role in Shanghai’s urban regeneration and make a significant contribution to the city’s economic and cultural development. He added that the Company would continue working with Jing’an Real Estate Group on ZHANGYUAN’s ongoing development and commercial management, further promoting the regeneration and economic development of the Nanjing West Road Area.

ZHANGYUAN has become the Company's third major project in Shanghai in addition to, HKRI Taikoo Hui and Taikoo Li Qiantan. At the opening ceremony of ZHANGYUAN West Zone, Zhang Zhuoping, Chairman of John Swire & Sons (China) Limited, said that Shanghai is the cradleland of John Swire & Sons and Swire Properties' Chinese Mainland businesses, and the only city where the latter deployed both "Taikoo Hui" and "Taikoo Li". Cultural conservation has been an important mission of Swire Properties' placemaking philosophy and a major way for the Company to participate in urban regeneration in Hong Kong and the Chinese Mainland over the past five decades.

Operated and managed by a joint venture between Swire Properties and Shanghai Jing’an Real Estate (Group) Co., Ltd, the project covers around 20,000 sqm of aboveground space, which represents about 35% of the total aboveground area at ZHANGYUAN.