27 Oct 2022

Media:

The Economic Observer

Tim Blackburn shares Swire Properties’ developments in Chinese Mainland

Before the National Day holiday in the Chinese Mainland, Tim Blackburn, Chief Executive of Swire Properties, visited Shenzhen, Guangzhou, Xi'an, Shanghai and Beijing. In these famous tier-1 and emerging tier-1 cities, Swire Properties runs or is building at least one commercial project. While the number of projects is not big, each is a landmark project in terms of size and commercial influence. For projects that have been in operation for over ten years, their buildings and hardware have been maintained in a like-new condition, and their spatial designs are still avant-garde.

Celebrating its 50th anniversary in 2022, Swire Properties roughly doubled the number of assets in the Chinese Mainland over the past three years after the outbreak of the epidemic. In early 2022, Swire Properties announced the plan of investing HK$ 100 billion in the coming decade, out of which about HK$ 50 billion will be invested in the Chinese Mainland. Blackburn said the Company will continue to look for opportunities in core areas of tier-1 and emerging tier-1 cities to develop retail-led projects, and plans to develop roughly five large-scale projects in the coming 5-10 years.

Swire Properties has consistently been looking for prime locations to develop projects that can bring creative transformation to the urban. The Company especially values land parcels in cities' core areas with historical and cultural elements, which has become its key business development strategy in the Chinese Mainland. In recent years, Swire Properties has been focusing on developing low-density, open Taikoo Li projects at characteristic sites in emerging tier-1 cities to promote transformation of surrounding communities, such as Taikoo Li projects in Chengdu and Xi'an. These opportunities enable Swire Properties to fuse the local historical and cultural elements into projects, turning these sites into city landmarks.

When encountering an economic downturn, Swire Properties would focus on its core values such as integrity, originality, far sights and quality, which help it cope with short-term fluctuations. Swire Properties is likely to turn residences into part of mixed-use projects in the future. Blackburn added that the Company wants to concentrate its expertise on the commercial development strategy while reviewing the potential of adding residential elements, as seen in Taikoo Li Xi'an. The Company strives to build a unique residence brand in the Chinese Mainland.

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The Economic Observer

27 Oct 2022