| FOR IMMEDIATE RELEASE | 15 July 2015 |
15 July 2015, Hong Kong - HKR International and Swire Properties jointly announced today the name of their Shanghai joint-venture project as "HKRI Taikoo Hui", a large-scale mixed-use development formerly known as the Dazhongli project.
Located on Nanjing Road (West), one of Shanghai's major shopping thoroughfares, in the Jingan District of Puxi, Shanghai, HKRI Taikoo Hui will have a gross floor area of approximately 3.46 million sq ft (approximately 321,200 sqm) and comprise a retail mall, two office towers and three hotels/serviced apartments.
It has excellent transport connections, being served by three metro lines - one existing Line 2 and two planned Lines 12 and 13 due to operate in 2015-2016. The development is also close to the Yanan and N-S Elevated Highways, providing good accessibility to downtown locations and Pudong and Hongqiao International Airports. The project is poised to become a landmark development in the heart of Shanghai and will inject new excitement into the retail, dining and entertainment scene in the buzzing Nanjing Road (West) neighbourhood.
"As the founding partner of the project, we have come a long way since acquiring the Dazhongli site in 2002. With great pleasure, we announce the launch of HKRI Taikoo Hui together with Swire Properties, our partner since 2006," said Cha Mou Zing Victor, Deputy Chairman & Managing Director of HKR International. "We look forward to the imminent completion of the mixed-use commercial development, which is set to become the next focal point for business and leisure activities in Shanghai with its prime location and excellent connectivity."
"We are very proud to introduce the official name for our first project in Shanghai, HKRI Taikoo Hui," said Guy Bradley, Chief Executive of Swire Properties. "This project is being built in the most vibrant district of this amazing city, and will be the last major development in the Jingan District. We intend to make it a spectacular addition, and I am confident that HKRI Taikoo Hui will become a new lifestyle destination and a premium business address in Shanghai."
About HKR International
HKR International Limited has been listed on The Stock Exchange of Hong Kong since 1989 (Stock Code: 00480). The Group has diversified interests in real estate development and investment, property management, luxury hotels and serviced apartments, healthcare services and other investments in Hong Kong, Mainland China and across Asia.
Website: www.hkri.com
About Swire Properties
Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use developments in prime locations. Swire Properties is listed on the Main Board of the Stock Exchange of Hong Kong and its investment portfolio in Hong Kong comprises Taikoo Place, Cityplaza and Pacific Place as its core holdings. In addition to Hong Kong, the Company has investments in Mainland China, the United States, Singapore and the United Kingdom. Visit Swire Properties' website at www.swireproperties.com.
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