| FOR IMMEDIATE RELEASE | 31st May 2007 |
Swire Properties today (Thursday, 31st May 2007) is delighted to announce the sale of Fairwinds, a luxury residential property located at 29 - 31 Tung Tau Wan Road in Stanley, for HK$280 million.
Comprising four semi-detached waterfront houses, Fairwinds was sold at an average price of approximately HK$28,000 per sq ft. The property was completed in 1998 and has been retained for investment ever since.
About Swire Properties
Incorporated in 1972, Swire Properties develops and manages commercial, retail and residential properties which offer exceptional and inviting environments in prime locations, with a strategy to 'hub' its investment properties at major mass transportation intersections, providing the highest level of accessibility and connectivity to its tenants and patrons. The completed portfolio in Hong Kong totals over 13 million sq ft of gross floor area, with Island East, Pacific Place and Festival Walk as its core holdings, reflecting its strength in building communities. Besides Hong Kong, the Company has a presence in China, the USA as well as the United Kingdom.
The Company is a wholly-owned subsidiary of the publicly-listed Swire Pacific Limited whose businesses are grouped under five operating divisions - property, aviation, beverages, marine services and trading & industrial.
Visit Swire Properties web site at www.swireproperties.com
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