Various newspapers reported that Swire Properties has been expanding its business footprint in Quarry Bay, as the Land Registry's records show that a unit at Wah Ha Factory Building was sold in August 2022 for HKD59.5 million with a gross floor area of about 4,220 sq ft. A media described the transaction was approximately 84% higher than the valuation.

A Swire Properties spokesperson stated that the Company was acquiring unit 7A at Wah Ha Factory Building, for which the Agreement for Sale and Purchase has been signed with the respective owners, with the completion targeted to be in mid-September. The spokesperson said that the compulsory sale of Zung Fu Industrial Building was still in progress and the Company had successfully acquired all the units in March 2022 and added that if the Company is successful in the bid for Wah Ha Factory Building at the compulsory sale, the two sites would be redeveloped for office and other commercial use with a total floor area of approximately 779,000 sq ft.