Swire Properties announced a new name for its retail-led development in Chengdu today, "Taikoo Li Chengdu" (成都太古里), replacing the project’s former name of Sino-Ocean Taikoo Li Chengdu.
In December 2022, the Company announced plans to acquire the remaining 50% interest in the development and all related transactions were completed at the end of February 2023. Swire Properties now owns 100% of the development which also includes the award-winning hotel, The Temple House.
Tim Blackburn, Chief Executive of Swire Properties said, “The renaming as Taikoo Li Chengdu is another exciting milestone for this project which is a world-class example of our long-term approach to urban regeneration and cultural preservation.
“Taikoo Li Chengdu is a wonderful success story. Over the past eight years, this project has become an iconic destination for local residents and tourists alike. Taikoo Li Chengdu’s performance has continued to strengthen since its opening in 2015. Post-pandemic retail sales have recovered significantly, recording a year-on-year sales growth of approximately 30% in this first half of this year.
“As we look to the future, our ambitious HKD100 billion investment plan is in full swing. Approximately 50% has been allocated to projects in the Chinese Mainland as evidence of our long-term commitment to Chengdu and to further investment in the Chinese Mainland.”
Molly Wu, General Manager of Taikoo Li Chengdu said, “Building on the strong foundations that we’ve laid down over the years, we are set to raise Taikoo Li Chengdu to the next level with a host of enhancements. Since 2022, we have carried out a major upgrade to our tenant-mix, introducing new retail concepts and welcoming 128 brands. These include many global flagship stores which offer innovative concepts and international brands’ debuts in the Chinese Mainland market. Moving forward, we’ll continue to curate unique and unforgettable shopping and lifestyle experiences to exceed young Chinese consumers’ expectations.”
Located at one of the most coveted locations in the city, the open-plan, lane-driven Taikoo Li Chengdu features a traditional Sichuan-architecture-inspired design with the ancient, one thousand-year-old Daci Temple at its heart. The unique retail concept of “Fast Lane” and “Slow Lane”, which was customised for this development, delivers a diverse shopping and lifestyle experience to visitors, making the development one of China’s unmatched cultural and commercial destinations.