| FOR IMMEDIATE RELEASE | 16 December 2009 |
16 December 2009, Guangzhou - TaiKoo Hui (Guangzhou) Development Company Limited, a subsidiary of Swire Properties, announced that TaiKoo Hui shopping mall has concluded leasing contracts with a number of international brands, hitting a pre-lease level of 60%.
International leading brands including Armani, Bally, Bulgari, Chanel, Dior, Fendi, Louis Vuitton, Miu Miu, Omega, Prada and Salvatore Ferragamo have confirmed to open shops in TaiKoo Hui shopping mall. Other tenants such as Godiva, Lazy Susan, Food Republic, Marks and Spencer, Chinese restaurant managed by Maxim's Group and Ole' Supermarket have chosen TaiKoo Hui as their first base in Guangzhou. Ochirly and Sanse, the locally-renowned brands, will also set up their flagship stores in the mall.
The impressive leasing results enjoyed by TaiKoo Hui can be attributed to Swire Properties' established brand reputation and longstanding working relationship with partners. With the expertise and experience of Swire Properties in quality property developments and property management, TaiKoo Hui, Swire Properties' first prime mixed-use development in Guangzhou, is set to excel in the area of development positioning, marketing and promotion, property management and the creation of unique shopping experience. TaiKoo Hui's superb location with great accessibility and service excellence will help the retailers expand their businesses in Guangzhou.
Alan Walker, TaiKoo Hui's Director of Portfolio Management, said: "We are pleased that 60% of the retail space has been let out when we are still 11 months away from the opening. We are confident to achieve full occupancy by the time the mall is open for business. Combining an array of elements ranging from trendy fashion, dining and entertainment to leisure and culture, TaiKoo Hui is set to be a hot spot for Guangzhou citizens. Its outstanding architecture design will make it the new landmark of the city."
Scheduled to open before the Asian Games next year, TaiKoo Hui launches a photography competition under the one-year "Brand the New Guangzhou" Campaign. Peter Kok, Swire Properties' General Manager of Guangzhou, said: "The launch of this extensive branding campaign a year before the opening of the mall is a testimonial of our commitment to and confidence in the Guangzhou consumer market. Well-prepared for launching our mall before the Asian Games, we look forward to enriching Guangzhou's robust retail market and contributing to the city's business development."
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 phases in late 2010.
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, in which Swire Properties owns 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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