Date
25 April 2018

Swire Properties to put 8 bln yuan into China, paper says

Swire Properties Ltd. (01972.HK) plans to invest about 8 billion yuan (US$1.3 billion) in China in the next three years, Apple Daily reported Tuesday, citing Guy Bradley, the company’s chief executive officer for mainland China. Bradley expects the mainland portfolio to make up one-third of the developer’s gross rental income in the future, the paper said. The company sees bigger growth potential in China than in Hong Kong, where the property market is more mature and competition intense, Bradley said. Swire Properties will focus on building shopping and office complexes on the mainland, but does not rule out tapping the residential market down the track, the paper quoted Bradley as saying in Beijing.

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YL/AC/SK

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