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18 Mar 2009

TaiKoo Hui Appoints World Renowned Leasing Agents to Bring in Multinational Corporations and Brands as Tenants

TaiKoo Hui today enters into agreement with two world renowned leasing agents to introduce international brands and multinational corporations as tenants of the development. According to the agreement, Savills will take up the retail leasing and Jones Lang LaSalle will engage in the office leasing.

Located in Tianhe District, Guangzhou, TaiKoo Hui consists of a prime shopping centre, two office towers, a cultural centre and a hotel, Mandarin Oriental, Guangzhou, with a total gross floor area of 4.37 million sq ft (406,000 sqm). One of the flagship developments in the city, TaiKoo Hui is an unprecedented mixed-use project including both business and cultural elements. The project is designed by Arquitectonica, the world-renowned architectural firm.

Foundation work is basically completed and construction is now underway. Superstructure work has commenced and will be carried out in phases. Some towers have already been built to the 4th floor. The mall will be opened before the 2010 Asian Games in Guangzhou to welcome that event.

Peter Kok, Swire Properties’ General Manager of Guangzhou, said, “While the development is making good progress, we have embarked on the further stage of looking for suitable tenants for the shopping mall and office towers. Savills and Jones Lang LaSalle are both world-class leasing agents. With their expertise, we believe that TaiKoo Hui will become a truly international project, housing unique world-class brands and large multinational corporations.”

The introduction of international brands and corporations can also help bring in international management expertise to Guangzhou and create an ideal platform to enhance cooperation in the service industry between Hong Kong and Guangzhou. This helps improve service quality as well as promote the economic development of Guangzhou.

TaiKoo Hui is the first investment by Swire Properties in a prime mixed-use project in Mainland China. Despite the unfavourable world economy, TaiKoo Hui proceeds underway as planned with possible increment in investment, which is testimony to the Company’s confidence in the project as well as the economic prospects for Guangzhou. At the same time, the Guangdong Provincial Government has recently launched a set of policies to support the property industry. With Swire Properties’ excellent management, distinctive architectural design, use of finest materials and quality execution, together with an ideal location with high accessibility, TaiKoo Hui represents an exciting addition to the Guangzhou skyline and will meet the aspirations of both Guangzhou and the Pearl River Delta’s increasingly demanding trends.