27 Oct 2022

Media:

21st Century Business Herald

Swire Properties accelerates development in the Chinese Mainland

Hong Kong real estate developers are trying to reclaim their central position in the Chinese Mainland market again. As a Hong Kong developer with multiple representative works in the market, Swire Properties began promoting diversified deployment in the Chinese Mainland. The latest effort was its announcement of a partnership with CDF Investment & Development Co. Ltd, a subsidiary of China Tourism Group Duty Free Corporation Limited, to develop a retail landmark in Sanya, Hainan Province on 24 October 2022.

After announcing the plan of investing HK$ 50 billion in the Chinese Mainland in early 2022, Swire Properties has publicised collaborative projects in Shanghai, Guangzhou and other cities: a strategic cooperation framework agreement with Futian District Government in August 2022 to jointly build an iconic and landmark commercial project; a cooperation framework agreement with Liwan district government and Guangzhou Pearl River Enterprises Group to develop the Guangzhou Pearl River Swire Properties Julong Wan Project; and a cooperation letter of intent with the Lujiazui Group on developing LOT 21 at Qiantan in September 2022.

Insiders speculated that Swire Properties might be ramping up investment in the Chinese Mainland due to its booming luxury consumption despite the slowdown of the global economy in recent two years. With multiple successful projects under its belt, it is reasonable for Swire Properties to increase investment. Famous projects like Taikoo Hui Guangzhou and Sino-Ocean Taikoo Li Chengdu are the foundations for the developer to continue securing projects at prime locations. This shows that Swire Properties' expansion in the Chinese Mainland is the result of its strategy implementation and objective factors.

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21st Century Business Herald

27 Oct 2022