Swire Group, whose activities span property, aviation, beverages, marine services, and trading and industrial, is a Hong Kong listed conglomerate. It is the parent of Hong Kong carrier, Cathay Pacific Airways, and Dragonair, and Hong Kong Aircraft Engineering Co (Haeco) is a subsidiary. Swire Pacific and Swire Properties are the main listed arms of the group, which also owns Swire Hotels.
Chengdu office tower to be ready in 2014
Swire Properties and Sino-Ocean Land say the jointly developed grade-A office tower in the heart of Chengdu will be completed in 2014. The 200-metre tower, named Pinnacle One, is part of the Chengdu Daci Temple Cultural and Commercial Complex. The commercial complex offers a total gross floor area of more than 250,000 square metres, comprising a high-end shopping centre, a boutique hotel and serviced apartments. 'As a key investment hub in western China, Chengdu provides the ideal business location for multinational and local companies,' said Guy Bradley, chief executive officer for the mainland at Swire Properties. The tower is due to open in phases. Chen Lei, deputy general manager of Sino-Ocean Land and general manager of Chengdu Qianhao Real Estate, said Pinnacle One would offer unique services that accommodated daily business needs, including the very best in lifestyle and entertainment. Sandy Li
Shanghai clarifies home purchase restrictions
A notice clarifying that home purchase restriction policies apply to serviced apartment buildings for which land leases are zoned for residential use and lease tenure of 70 years has been issued by the Shanghai Municipal Housing Security and Management Bureau, with the Bureau of Planning and Land Resources in the city. But the policy does not apply to serviced apartments built on sites zoned for commercial use. Before the notice, some developers turned their residential properties into serviced apartments in an attempt to meet the home purchase restriction requirement. Peggy Sito