Hong Kong’s Swire Properties zeroes in on Shenzhen as part of its US$12.7 billion, 10-year investment plan

Swire plans to bring its Taikoo Li and Taikoo Hui mixed-use projects, which have been successful in other mainland Chinese cities, to Shenzhen

The Hong Kong-listed firm recently signed a cooperation agreement with the Futian district government of Shenzhen to develop a retail-led commercial project

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Swire plans to bring its successful Taikoo Li mixed-use commercial project to Shenzhen’s Futian district. Photo: AFP

Published: 8:30am, 5 Sep 2022

Swire Properties will expand its retail property business in Shenzhen as part of its HK$100 billion (US$12.7 billion) investment plan over the next 10 years.

The Hong Kong-listed company is keen to grow its retail assets in the Greater Bay Area in Shenzhen besides Hong Kong and Guangzhou, said chief executive Tim Blackburn at a briefing last week.

“The challenge for us is continuing the Greater Bay [Area] story which, at the moment, is Shenzhen. That is where we want to be able to bring a Taikoo Li or a Taikoo Hui concept,” said Blackburn.

Taikoo Li and Taikoo Hui are Swire’s mixed-use property projects in China. On the mainland, the company has such developments in Beijing, Shanghai, Guangzhou and Chengdu.

Swire Properties chief executive Tim Blackburn. Photo: Lam Ka-sing

Swire’s HK$100 billion investment plan unveiled in March is broadly divided into three main components. About HK$30 billion has been earmarked for reinforcing office developments, HK$20 billion for residential projects in Hong Kong and Southeast Asia, and HK$50 billion for Taikoo Li and Taikoo Hui projects in China’s tier one cities, specifically in the Greater Bay Area.

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