Swire to ramp up mainland activities

Hong Kong developer Swire Properties Ltd will see its real estate business on the mainland ramping up, accounting for a major portion of its global portfolio this year, a top company executive said.

The developer, owner and operator of mixed-use commercial properties expects over 30 percent of its global real estate projects to be in the mainland by the end of this year, with the opening of its second Taikoo Hui branded project - HKRI Taikoo Hui, in Shanghai by December.

"That will increase our square footage to 8.8 million square feet on the mainland, 33 percent of our world portfolio, compared with nothing 10 years ago," said Tim Blackburn, chief executive officer at Swire Properties of Chinese Mainland.