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Swire Groupi

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. 

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  • Conglomerate reports record profit of HK$36.2 billion (US$4.6 billion) for 2023, nearly eight times better than 2022’s HK$4.7 billion
  • Real estate arm Swire Properties saw profit rise by a third to HK$11.6 billion

CEOs of major landlords and developers in Hong Kong say priorities for 2024 include offering tenants new, sustainable services and diversifying portfolios.

Move by Jakarta to make it easier for foreigners to buy property in Southeast Asia’s largest economy is expected to boost sales for Swire Properties’ luxury joint venture project.

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Hong Kong’s Securities and Futures Commission has agreed to pay HK$5.4 billion (US$691 million) to acquire a number of floors at Swire Properties’ One Island East development in Quarry Bay for its permanent offices.

Cities in Asia-Pacific are staring at an ‘unprecedented shortage’ of sustainable office buildings over the next five years as companies strive to meet their net zero targets, according to JLL.

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New cut-price Cathay Pacific Airbus planes, with book cost of HK$36 billion, will be delivered by the end of 2029 and used mostly on mainland China and Asia routes.

It is the latest developer to launch an initiative that forms part of an industry-wide decarbonisation push aimed at helping the city reach its climate targets.

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Swire Properties will shell out a total of 9.7 billion yuan (US$1.3 billion) to bid for stakes in two state-owned companies in Shanghai that own two prime sites in the city’s Pudong New Area.

Swire Properties says retail sales at some shopping centres are back at pre-pandemic levels, while Hysan Development reports rising tenant revenue. However, the office market lags as high vacancy rates persist.

Hong Kong firms are well-placed to take advantage of opportunities given the crisis facing their mainland rivals, but the economic situation warrants caution, analysts say.

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All relevant players must understand and adhere to the latest disclosure requirements, speakers from the government, the city’s stock exchange operator and companies including HSBC and EY said during the Post’s Redefining Hong Kong conference on Thursday.

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Mall operators including Link Reit, Swire Properties, Henderson Land and Sun Hung Kai Properties believe EV chargers will help attract wealthy local shoppers as tourist spending continues to lag.

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Analysts and employees of flag carrier ask whether Cathay can salvage reputation, save itself from mainlanders’ ire and rebuild standing in key customer base.

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Covid-19 curbs led to losses at Cathay Pacific, while profits fell at Swire Coca-Cola and Swire Properties, but the company is optimistic now that pandemic restrictions are gone, chairman says.

L’Occitane and Samsonite are also among about 80 Hong Kong-listed companies whose stocks will be available to mainland China traders as of March 13.

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The supply of new homes could more than double compared with this year, driving developers to slash prices by 10 per cent or more to attract buyers amid historically high interest rates, analysts say.

Hainan officials arrive in Germany on Monday, seeking collaboration with institutions and companies, after trips to Japan and Hong Kong yield deals with Swire Group, PwC and Charles Li’s Micro Connect.

The reopening of Hong Kong’s borders and a stabilising pandemic to act as a catalyst for moribund office market, but a glut of new commercial towers to push rents down.

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Swire plans to bring its Taikoo Li and Taikoo Hui mixed-use projects to Shenzhen. It recently signed an agreement with the Futian district government to develop a retail-led commercial project.

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With 2.8 million sq ft of new prime space hitting the market this year, supply will reach a level not seen since 2008 and is set to expand further in the next two years, consultant Cushman & Wakefield says.

Swire Pacific will buy Coca-Cola Indochina through its subsidiaries, Swire Beverages Holdings and Swire Coca-Cola. It is the Hong Kong group’s first investment in Southeast Asia.

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Hong Kong’s office landlords are helping tenants with their climate goals, which will help the city reach its 2050 carbon neutral goal as buildings are a major source of carbon emissions.

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Swire beat out rivals such as CK Asset Holdings, Kerry Properties and Citic Pacific for land that could fetch HK$33,000 per square foot when construction is completed.