| FOR IMMEDIATE RELEASE | 27th March 2008 |
Swire Properties and the Building Energy Research Centre of Tsinghua University ("Tsinghua") today announce the establishment of the Building Energy Efficiency Research Fund ("the Fund") to enhance energy efficiency.
Pursuant to the terms of the Fund, Swire Properties will offer an initial funding of not less than HK$1 million a year in the coming three years for conducting building energy efficiency research, while researchers from the Building Energy Research Centre of Tsinghua will provide onsite energy consumption monitoring, analysis and research on the commercial buildings of Swire Properties, with the aim to further reduce energy consumption and carbon dioxide emissions to achieve excellence in energy efficiency.
Stephen Fong, General Manager of Swire Properties said, "It is our honour to work with Tsinghua University. Energy efficiency is a core element of sustainable development, while the establishment of the Fund enables the exchange of ideas between academic and business fields on the topic. Swire Properties is constantly dedicated to environmental protection, placing emphasis on every detail, from project design, construction technologies and methods, property management upon project completion, to energy efficiency throughout the buildings' life cycle. We hope our collaboration can help arouse further awareness towards building efficiency in the industry."
Besides conducting energy efficiency research on Swire Properties' portfolio, it is hoped that a series of code of practice, energy saving standards and operational guidelines, as well as training materials for property management professionals can be developed. Meanwhile, both parties would like to share the findings with the academic and business sectors in both Mainland China and Hong Kong through various seminars and research publications.
Professor Yi Jiang, Head of Building Energy Research Centre as well as Dean of Department of Building Science and Vice-president of School of Architecture of Tsinghua University said, "Building energy efficiency has become one of the global focuses, and it is worth exploring a range of ways in advocating energy conservation and enhancing buildings' energy efficiency. Swire Properties is a reputable property developer strong in energy performance, whereas Tsinghua is one of the few universities in the Mainland that has demonstrated competence in operational efficiency of buildings. Sharing the same persistence on energy conservation and the passion on energy saving technology research and development, I believe we can together set a new benchmark on building energy efficiency for the industry."
Following the establishment of the Fund, representatives from both parties will meet on a regular basis to study and apply research results and experiences to add synergy to the collaboration. The Fund would be jointly managed by Swire Properties and Tsinghua through half-yearly plans and budget review.
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. In 2008, the Company formed Swire Hotels to create and manage small luxury hotels in Hong Kong, Mainland China and the United Kingdom, providing an exceptional experience for travellers who seek individuality, style and personalised service.
In China, Swire Properties has a portfolio under development amounting to 7.9 million sq ft. It owns a majority stake in The Village at Sanlitun, a joint venture with Gateway Capital, in Beijing, of which the first phase is scheduled for opening in summer 2008. It also has a retail-led mixed use development in Chaoyang, Beijing in partnership with Sino-Ocean Land. Two other substantial Mainland projects currently in progress are TaiKoo Hui in Guangzhou and the Dazhongli project in Shanghai.
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 website at www.swireproperties.com.
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