| FOR IMMEDIATE RELEASE | 20 September 2009 |
20 September 2009, Guangzhou - TaiKoo Hui (Guangzhou) Development Company Limited, a subsidiary of Swire Properties, topped out the shopping mall at TaiKoo Hui on 18 September 2009, marking an important milestone in the development of this prime mixed-use project.
Targeting the medium to high-end consumer market, the shopping mall at TaiKoo Hui will introduce an array of international premium brands. Some of the brands and stores are newcomers to the Guangzhou market, including the Ole' Supermarket of China Resources Vanguard Limited, and the Food Republic of BreadTalk from Singapore.
At the topping out ceremony, Martin Cubbon, Swire Properties' Chief Executive, said, "Being the first mixed-use development by Swire Properties in Guangzhou, TaiKoo Hui is of remarkable significance to the Company. The orchestrated efforts and support by the government, official departments, our partners and friends have proved essential in bringing this project to this important phase. In 2010, the spectacular 16th Asian Games will be taking place in Guangzhou. As a key contributor to the city, delivering a range of 'infinitely satisfying' experiences to visitors from all over the world, TaiKoo Hui will welcome this sports extravaganza along with the whole of Guangzhou."
The shopping mall at TaiKoo Hui has a gross floor area of 1.3 million sq ft (121,000 sqm). To be completed in 2010, before the opening of the Asian Games, the shopping mall will be managed by Swire Properties. Apart from the retail portion, TaiKoo Hui consists of two office towers, a cultural centre and a luxurious hotel managed by the Mandarin Oriental Hotel Group. An unprecedented mixed-use project, TaiKoo Hui is set to be an outstanding landmark of Guangzhou.
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| Download (3898 KB) At TaiKoo Hui retail's topping out ceremony, Martin Cubbon, Swire Properties' Chief Executive, said that TaiKoo Hui is of remarkable significance to Swire Properties for it is the Company's first mixed-use development in Guangzhou. |
About TaiKoo Hui
Located in Tianhe District, Guangzhou, TaiKoo Hui comprises a prime shopping centre, two office towers, a cultural centre and a hotel, Mandarin Oriental, Guangzhou, with a total gross floor area of 4.37 million sq ft (406,000 sqm). The development is expected to launch in late 2010 in phases.
Swire Properties and Guangzhou Daily jointly own TaiKoo Hui, in which Swire Properties owns 97% interest.
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 and development in progress in Hong Kong totals 15.5 million sq ft (1.44 million sqm) of gross floor area including One Island East completed in March 2008, 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 US as well as the UK. In 2008, the Company formed Swire Hotels to create and manage intriguing urban hotels in Hong Kong, Mainland China and the UK, providing an exceptional experience for travellers who seek individuality, style and personalised service.
In Mainland China, Swire Properties has a portfolio of completed development and development in progress amounting to over 11 million sq ft (over 1 million sqm). It owns an 80% stake in the retail portions of the project of The Village at Sanlitun and wholly owns a hotel named The Opposite House, in Chaoyang District, Beijing. The Village South and hotel has been opened since the summer of 2008. The Company owns a 50% interest to develop a retail-led mixed-use development in Chaoyang District, adjacent to Jiang Tai in Beijing. Two other substantial Mainland projects currently in progress are the Dazhongli project in Shanghai and TaiKoo Hui in Guangzhou, owning a 50 percent and majority interests respectively.
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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