Swire Properties' investment property portfolio in Hong Kong comprises office and retail premises in prime locations, as well as serviced apartments, hotel interests and other luxury residential accommodation. Including the completion of One Island East in March 2008, our completed portfolio in Hong Kong totals 14.6 million sq ft (1.3 million sq m) of gross floor area. In Mainland China, Swire Properties has a total investment of over 11 million sq ft (over 1 million sq m) under way in Beijing, Shanghai and Guangzhou. In the United States, Swire Properties has developed various residential and commercial developments in Miami, Florida, and has a 75% interest in the Mandarin Oriental Hotel in Miami, Florida. In the United Kingdom, Swire Properties owns four boutique hotels.

Swire Properties' recurring gross rental income from our investment portfolio amounted to HK$5,577 million in 2007. For details, please refer to the 'Property Division' section in Swire Pacific Limited Annual Report 2007.

The map below shows our portfolio in Hong Kong only: