Swire Properties and Swire Pacific announced their 2021 Interim Results yesterday. Swire Properties reported a HKD4.32 billion profit attributable to the Company's shareholders in the first half of 2022, which is a 118% rise compared to the same period in 2021 while Swire Pacific reported an underlying profit of HKD1,729 million in the first six months of 2022.

In the first half of 2022, the Company reported high occupancy and steady income at its office portfolios. Lower rental income was recorded at its shopping malls in Hong Kong. In the Chinese Mainland, the Company's malls were affected by a resurgence of COVID-19, but there is an exciting pipeline of new projects, including the Taikoo Li Xi'an development and a new hotel in Shenzhen under The House Collective.

Tim Blackburn, Chief Executive of Swire Properties, said the market outlook remains challenging but the Company is expecting a gradual pickup in the fourth quarter and it is expanding its Taikoo Place and Pacific Place projects. On the outlook of the Chinese Mainland, Blackburn added the Company remains confident as its investments are primarily retail-led in Tier-1 and emerging Tier-1 cities.
Guy Bradley, Chairman of Swire Properties and Swire Pacific, said that the Swire Group welcomes the HKSAR Government's shortening of the mandatory quarantine, but he hopes for a total lift of the quarantine as Hong Kong can only return to a vibrant and visitor-driven international financial centre then.