Media Coverage

Swire Properties experienced strong sales performance at its shopping malls during the first half of 2023. This growth was supported by positive market sentiment, the lifting of travel restrictions, government initiatives such as the distribution of consumption vouchers and promotional campaigns like "Hello Hong Kong". From January to June 2023, sales at Citygate Outlets, Pacific Place and Cityplaza increased by 61.7%, 59.5% and 11.8%, respectively, and the occupancy rates remained high at 100%, 97% and 100%, respectively.

In terms of the office portfolio, the Company showed resilience despite increased office supply and an uncertain macroeconomic outlook. The overall occupancy rate of the office rental portfolio stood at 94%, with Pacific Place maintaining a stable occupancy rate at 97% and Taikoo Place (excluding the newly launched Two Taikoo Place) at 94%. While rental rates remained in negative reversionary territory due to leases being signed after the peak of the last cycle in 2020, there has been an increase in leasing enquiries and inspections for its portfolios.

In the Chinese Mainland, all six malls continued to perform strongly, with footfall significantly improving and retail sales exceeding pre-pandemic levels. These malls welcomed new retail tenants, including several debut and flagship stores. Taikoo Li Qiantan notably achieved sales growth of 1.7 times while maintaining a 95% occupancy rate. HKRI Taikoo Hui, INDIGO Beijing and Taikoo Li Sanlitun reported sales increases of 71.5%, 34.1% and 29.1%, respectively.