Media Coverage

In the past year, several Hong Kong developers have been acquiring property assets in the Chinese Mainland amid an industry downturn. Swire Properties, New World Development, Kerry Properties and Hongkong Land have collectively increased their investment plans in Chinese Mainland projects by more than HKD30 billion in 2022.

Swire Properties said that it would invest HKD100 billion to expand its core markets over a span of 10 years, with half of the investment allocated to the Chinese Mainland.

Tim Blackburn, Chief Executive of Swire Properties, said that the Chinese Mainland is a key market for Swire Properties, and the Company maintains a positive long-term outlook. The Company's Chinese Mainland portfolio has grown substantially and become a major contributor to its revenue growth, accounting for approximately 40% of its attributable gross rental income.

Swire Properties currently owns six retail-led, mixed-use projects in first-tier Chinese Mainland cities and has two new projects under development in Sanya and Xi'an. The Company is also exploring investment opportunities in the Greater Bay Area and monitoring opportunities to develop Chinese Mainland residential properties.