| For Immediate Release | 23 August 2023 |
23 August 2023, Chengdu - Swire Properties announced a new name for its retail-led development in Chengdu today, "Taikoo Li Chengdu" (成 都 太 古 里), replacing the project's former name of Sino-Ocean Taikoo Li Chengdu.
In December 2022, the Company announced plans to acquire the remaining 50% interest in the development and all related transactions were completed at the end of February 2023. Swire Properties now owns 100% of the development which also includes the award-winning hotel, The Temple House.
Tim Blackburn, Chief Executive of Swire Properties said, "The renaming as Taikoo Li Chengdu is another exciting milestone for this project which is a world-class example of our long-term approach to urban regeneration and cultural preservation.
"Taikoo Li Chengdu is a wonderful success story. Over the past eight years, this project has become an iconic destination for local residents and tourists alike. Taikoo Li Chengdu's performance has continued to strengthen since its opening in 2015. Post-pandemic retail sales have recovered significantly, recording a year-on-year sales growth of approximately 30% in this first half of this year.
"As we look to the future, our ambitious HKD100 billion investment plan is in full swing. Approximately 50% has been allocated to projects in the Chinese Mainland as evidence of our long-term commitment to Chengdu and to further investment in the Chinese Mainland."
Molly Wu, General Manager of Taikoo Li Chengdu said, "Building on the strong foundations that we've laid down over the years, we are set to raise Taikoo Li Chengdu to the next level with a host of enhancements. Since 2022, we have carried out a major upgrade to our tenant-mix, introducing new retail concepts and welcoming 128 brands. These include many global flagship stores which offer innovative concepts and international brands' debuts in the Chinese Mainland market. Moving forward, we'll continue to curate unique and unforgettable shopping and lifestyle experiences to exceed young Chinese consumers' expectations."
Located at one of the most coveted locations in the city, the open-plan, lane-driven Taikoo Li Chengdu features a traditional Sichuan-architecture-inspired design with the ancient, one thousand-year-old Daci Temple at its heart. The unique retail concept of "Fast Lane" and "Slow Lane", which was customised for this development, delivers a diverse shopping and lifestyle experience to visitors, making the development one of China's unmatched cultural and commercial destinations.
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1, 2: Taikoo Li Chengdu
About Taikoo Li Chengdu
Located in the city centre of Chengdu, Taikoo Li Chengdu is a 2.36 million sq ft (approximately 219,000 sqm) mixed-use development invested and operated by Swire Properties. Officially opened in 2015, the development comprises an open-plan, low-rise and lane-driven shopping mall, and The Temple House - an understated urban luxury hotel with 100 Rooms and 42 Residences.
Taikoo Li Chengdu embraces the historic Daci Temple and takes pride in the reinvigoration of surrounding heritage buildings. Welcoming lanes, courtyards, plazas with architecture inspired by traditional and modern streets in the east and west make it a unique representation of the Taikoo Li brand in Chengdu.
About Swire Properties
Swire Properties develops and manages commercial, retail, hotel, and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections. Swire Properties is listed on the Main Board of the Stock Exchange of Hong Kong and its investment portfolio in Hong Kong comprises Taikoo Place, Pacific Place, Cityplaza, Citygate Outlets. The Company's completed portfolio in Hong Kong comprises approximately 16.6 million sq ft (approximately 1.54 million sqm) of space.
In the Chinese Mainland, Swire Properties has six completed mixed-use developments in Beijing, Shanghai, Guangzhou and Chengdu. They include Taikoo Li Sanlitun and INDIGO in Beijing, HKRI Taikoo Hui and Taikoo Li Qiantan in Shanghai, Taikoo Hui Guangzhou and Taikoo Li Chengdu. INDIGO II in Beijing, Taikoo Li Xi'an and a new retail-led project in Sanya are currently under development. The Company's completed portfolio in the Chinese Mainland comprises approximately 14.1 million sq ft (approximately 1.31 million sqm) of space.
In addition to Hong Kong and the Chinese Mainland, the Company has investments in the United States, Indonesia, Vietnam and Thailand.
Visit Swire Properties' website at www.swireproperties.com
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