Media Coverage

Swire Properties announced its 2022 Q4 operating statement. The Hong Kong office portfolios saw a slight drop in occupancy to 96%. Pre-leasing for Two Taikoo Place is progressing well, with over 56% of space committed. Notable incoming tenants include Julius Baer, Amundi, Boston Consulting Group, China CITIC Bank International and Ankura Consulting.

On the retail front, Pacific Place and Citygate Outlets recorded a year-on-year increase in retail sales of 1.9% and 3.8% respectively, while Cityplaza saw a decline of 5.3%. The performance was affected by outbound travel limitations in the short-term, but the Company remains optimistic about a positive long-term boost in the overall retail market.

In the Chinese Mainland, shopping mall retail sales recorded a double-digit decline last year due to COVID-19 control measures. However, a notable recovery was seen during the New Year and Chinese New Year holidays after the relaxation of measures.

Swire Properties is confident that both the Hong Kong and Chinese Mainland retail markets will see a positive recovery as travel restrictions have been fully lifted. The Company is also actively exploring two potential retail-led projects in Julong Wan, Guangzhou and Pudong, Shanghai while also expanding its presence in the Greater Bay Area.