Shared from Business of Fashion
The Hong Kong-based real estate group saw double-digit gains in retail revenue across its mainland China properties, according to a fourth quarter operating report released Friday.
Its two Beijing malls, Taikoo Li Sanlitun and One Indigo saw 27 percent and 11 percent year-on-year growth, while Chengdu’s Taikoo Li shopping centre saw revenue grow 21.9 on the year. Taikoo Hui Guangzhou had the group’s biggest yearly jump in revenue, up 33.4 percent, but Taikoo Hui Shanghai was not far behind it, with revenue growth of 28.8 percent.
Swire opened its new Shanghai property, Taikoo Li Qiantan, last October. This latest report doesn’t give any indication of sales for that property, but did say it was running at 90 percent occupancy.
At Swire’s three malls in Hong Kong, retail revenue grew 27.4 percent, 21.6 percent and 8.8 percent year-on-year respectively.
Learn more:
Swire Opens Colossal Luxury Shopping Centre in Shanghai
Swire Properties unveiled its new open-plan shopping complex, Taikoo Li Qiantan, next to Shanghai’s financial district on Sept. 30, boasting around 120,000 square metres of mixed-use space and boutiques from brands owned by LVMH, Kering and Hermès.
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