| FOR IMMEDIATE RELEASE | 21 January 2010 |
21 January 2010, Guangzhou - TaiKoo Hui, Swire Properties' flagship mixed-use development in Guangzhou, tops out today. With the shopping mall, office towers and hotel now structurally complete, the retail portion is set to open before the 16th Asian Games in 2010.
TaiKoo Hui is 4.37 million sq ft (406,000 sqm) in size and features a premium shopping mall, two Grade-A office towers, Guangzhou's first five-star Mandarin Oriental hotel and a cultural centre. The building was designed by world-acclaimed Arquitectonica, and its environmentally-friendly design has provisionally achieved the prestigious LEED (Leadership in Energy and Environmental Design) Gold rating from the US Green Building Council. The total project investment in TaiKoo Hui exceeds RMB 5 billion.
With its prime location in Guangzhou's Tianhe district, TaiKoo Hui has excellent transport connections both by road and by Guangzhou metro lines 1 and 3, as well as being well-connected to Hong Kong and nearby Mainland cities by rail. TaiKoo Hui is expected to become the iconic shopping, business and cultural hub of Guangzhou.
The new shopping mall will feature a carefully-chosen mix of more than 160 brands, over 20 international dining venues and a 14-screen deluxe cinema. Leasing for the 1.3 million sq ft (121,000 sqm) retail mall is ahead of schedule, with 70% of shops pre-leased and full occupancy expected before opening later this year. The mall will welcome international brands such as Louis Vuitton, Prada, Armani, Bally, Bvlgari, Chanel, Dior, Fendi, Miu Miu, Omega and Salvatore Ferragamo. Marks & Spencer, an upmarket Ole' supermarket as well as a variety of premium local brands will also be present in the mall.
The Grade-A office towers will offer world-class business facilities together with international standard property management, green features and unparalleled connectivity.
"We are excited to celebrate the achievement of topping out TaiKoo Hui," said Gordon Ongley, Swire Properties' Chief Executive Officer - Mainland China, at the ceremony. "Guangzhou is one of the most cosmopolitan and fastest growing regions in China with a strong premium consumer market. With our proven success in developing and managing first-class developments in Hong Kong, Beijing and overseas, we are confident that TaiKoo Hui will offer international quality retail and service standards to the increasingly sophisticated Guangzhou market."
The luxury hotel Mandarin Oriental Guangzhou features 262 deluxe guest rooms and suites, 24 serviced apartments, four dining and cocktail venues, meeting room and ballroom facilities, a gym and its signature spa. Managed by the Mandarin Oriental group, the hotel will reinforce TaiKoo Hui's position at the heart of Guangzhou and serve the city's discerning business and leisure travellers.
To celebrate the completion of TaiKoo Hui and the upcoming Asian Games 2010, the Company is launching an extensive brand campaign called "Brand the New Guangzhou", a city-wide photography contest, promoting cultural appreciation through community activities. The Company is also in collaboration with Guangdong Radio, organising an English speaking contest for the Guangdong universities and high schools. The Company plans to host more cultural and community events in the future upon the opening of its new cultural centre.
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, with Swire Properties holding a 97% interest in the development.
About Swire Properties
Incorporated in 1972, Swire Properties develops and manages commercial, retail and residential properties, with a particular focus on mixed-use development in prime locations at major mass transportation intersections. The Company's investment portfolio in Hong Kong totals 15.5 million sq ft (1.44 million sqm) of gross floor area, with Pacific Place, Island East and Festival Walk as its core holdings. Besides Hong Kong, the Company has a presence in China, the USA as well as the UK.
In Mainland China, Swire Properties has a portfolio amounting to over 11 million sq ft (over 1 million sqm), the majority of it under construction. The four projects include mixed-use developments in Beijing, Shanghai and Guangzhou, with Sanlitun Village and The Opposite House hotel in Beijing best-known among them.
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.
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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