Swire Properties Celebrates Grand Opening of TaiKoo Hui

23 September 2011

Swire Properties Celebrates Grand Opening of TaiKoo Hui

Company’s Flagship Development in Mainland China

Swire Properties officially opened TaiKoo Hui, its flagship property in Mainland China, in Guangzhou today. Swire Properties’ Chief Executive Martin Cubbon and officials from Guangzhou city and Tianhe District, were joined by some 600 guests at the grand opening ceremony to celebrate the occasion.

Situated in the Tianhe central business district of Guangzhou city, TaiKoo Hui is Swire Properties’ largest investment property in Mainland China, with a total gross floor area of approximately 3.85 million sq ft (over 358,000 sqm). Located in a prime transportation hub that has direct access into the city’s metro system, the development comprises a premium shopping mall, two Grade-A office towers, a cultural centre, a Mandarin Oriental hotel and serviced apartments, all of which are seamlessly interconnected.

“The opening of TaiKoo Hui marks an important milestone for Swire Properties,” said Cubbon.  “This project represents the latest and the best of what we have to offer, and we are thrilled to establish a presence here in Guangzhou, in the heart of the city’s central business district.  Guangzhou has emerged as one of the largest commercial centres in the Mainland, and we are confident that TaiKoo Hui will soon become an exciting new landmark in this vibrant city.”

TaiKoo Hui’s shopping mall opened in phases from May this year, and its 180 shops are now fully leased. Approximately 70% of the mall is comprised of international brand names, with some 70 brands making their debut in Guangzhou, including CHANEL, miu miu, GIORGIO ARMANI and Tiffany & Co. The office towers are open for tenants to fit out; the largest tenant, HSBC, will occupy 29 floors, or approximately 48% of the gross floor area within the towers.

“We have spent 40 years successfully developing and managing large-scale mixed-use projects in Hong Kong, and we are keen to bring our expertise and experience to Mainland China.  Looking forward, we intend to play an active role in the success and economic development of the city of Guangzhou,” Cubbon added.  “TaiKoo Hui is a clear demonstration of the Company’s commitment to establishing its brand and creating quality developments in Mainland China.” 

TaiKoo Hui is one of five projects the Company has in various stages of development in Mainland China, in prime cities including Beijing, Shanghai and Chengdu. Swire Properties’ portfolio in Mainland China amounts to approximately 12.9 million sq ft (approximately 1.20 million sqm) in gross floor area.