Swire Properties Limited () is a property developer, owner and operator of mixed-use, principally commercial properties in Hong Kong and Mainland China. Founded and headquartered in Hong Kong in 1972, Swire Properties is a major property developer in Hong Kong, and is listed on the Stock Exchange of Hong Kong. Including subsidiaries, it employs around 4,500 people. The company is, in turn, a subsidiary of the publicly-listed Swire Pacific Limited (part of Swire Group).
Business scope
Swire Properties operates in three main areas: property investment – property investment, namely the development, leasing and management of commercial, retail and residential properties as a long-term investment property trading – property trading, that is the development and construction of properties, principally luxury residential apartments, for sale hotel investment and operations (Swire Hotels)
Senior leadership
Chairman: Guy Bradley (since August 2021) Chief Executive: Tim Blackburn (since August 2021)
Former chairmen
James Hughes-Hallett (1999–2005) Keith Kerr (2005–2009) Christopher Pratt (2009–2014) John Slosar (2014–2018) Merlin Swire (2018–2021)
Former chief executives
Keith Kerr (1998–2005) Martin Cubbon (2009–2014) Guy Bradley (2015–2021)
History
Laying the foundations
Swire Properties was established in Hong Kong in 1972, with interests held by B&S Industries Limited and The Taikoo Dockyard and Engineering Company of Hong Kong Limited, which was renamed as Swire Pacific Limited in 1974. In 1975, Taikoo Shing, built on the former Taikoo Dockyard, became the first major development by Swire Properties. Tung Ting Mansion, the first block of Taikoo Shing, was offered for sale in January 1976.
In the following year, Taikoo Sugar Refinery Compound was renamed to the Taikoo Trading Estate (which is now known as Taikoo Place).
Swire Properties was briefly listed for the first time on the Stock Exchange of Hong Kong in 1977. Its shares were also traded on the London Stock Exchange.
Expansion into the US
In 1976, Swire Properties decided to invest in US by acquiring interests in Berkeley Hambro Inc, a developer headquartered in Tampa, Florida. Two years later, Swire Properties acquired interests in a joint venture with a Florida Cheezem Development Corporation Limited, to develop a 33.6-acre site on Claughton Island, Miami. Claughton Island was later renamed Brickell Key.
Pacific Place, Festival Walk and Citygate development
In 1985 to 1986, Swire Properties purchased the former Victoria Barracks in Admiralty and land surrounding it. The land was later redeveloped into Pacific Place, which was a hub consisting of a shopping mall, two office towers, serviced apartments and three five-star hotels. Pacific Place was fully completed in 1991. An office tower extension, Pacific Place Three, was completed in 2004. In 1999, StarCrest, a residential project adjacent to the Pacific Place hub, was completed, marking the revitalization of the entire Star Street area in Wan Chai.
In 1998, Festival Walk was completed, which offered retail space spanning seven levels, an office tower and a public transportation terminus. In 2011, Swire Properties sold its 100% interest in Festival Walk to Mapletree, a Singapore-based developer for HK$18.8 billion. The property transaction was the most expensive ever conducted in Hong Kong's history.
In 1999, Swire Properties completed Citygate in Tung Chung, Lantau, as well as Tung Chung Crescent and Seaview Crescent, two residential projects providing in total almost 3,700 units. In 2006, the retail mall of Citygate was renamed Citygate Outlets, Hong Kong's first outlet shopping mall.
Expansion into the mainland
In 2007, Swire Properties acquired the Beijing Sanlitun project, which comprises a low-rise mixed commercial scheme comprising retail development and a 99-room hotel. The southern portion of Sanlitun Village was also opened the following year. The northern portion of Sanlitun Village was opened in 2010, marking the official launch of the entire Sanlitun Village development. It was later renamed Taikoo Li Sanlitun.
In 2011, Taikoo Hui Guangzhou was opened in Guangzhou, and INDIGO was opened in Beijing. Sino-Ocean Taikoo Li Chengdu was officially launched in 2015 and HKRI Taikoo Hui was opened in Shanghai in 2017.
Public listing
In 2010, Swire Properties attempted to split from Swire Pacific and undergo an IPO, but in the end postponed due to adverse economic situation.