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Hong Kong’s Swire Properties zeroes in on Shenzhen as part of its US$12.7 billion, 10-year investment plan
- Swire plans to bring its Taikoo Li and Taikoo Hui mixed-use projects, which have been successful in other mainland Chinese cities, to Shenzhen
- The Hong Kong-listed firm recently signed a cooperation agreement with the Futian district government of Shenzhen to develop a retail-led commercial project
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Swire Properties will expand its retail property business in Shenzhen as part of its HK$100 billion (US$12.7 billion) investment plan over the next 10 years.
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The Hong Kong-listed company is keen to grow its retail assets in the Greater Bay Area in Shenzhen besides Hong Kong and Guangzhou, said chief executive Tim Blackburn at a briefing last week.
“The challenge for us is continuing the Greater Bay [Area] story which, at the moment, is Shenzhen. That is where we want to be able to bring a Taikoo Li or a Taikoo Hui concept,” said Blackburn.
Taikoo Li and Taikoo Hui are Swire’s mixed-use property projects in China. On the mainland, the company has such developments in Beijing, Shanghai, Guangzhou and Chengdu.
Swire’s HK$100 billion investment plan unveiled in March is broadly divided into three main components. About HK$30 billion has been earmarked for reinforcing office developments, HK$20 billion for residential projects in Hong Kong and Southeast Asia, and HK$50 billion for Taikoo Li and Taikoo Hui projects in China’s tier one cities, specifically in the Greater Bay Area.
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