SWIREPROPERTIES: In the third quarter, retail sales at Pacific Place increased by 3.6%
Swire Properties announced its third-quarter results, with retail sales at Pacific Place increasing by 3.6% year-on-year, and Cityplaza growing by 3%. The retail sales at East Point City saw a slight increase of 0.2%. The overall office rental rate in Hong Kong is 92%, up 1 percentage point from the end of last year. The rents at Pacific Place and Taikoo Place were reduced by 13% and 15%, respectively. The office rental rate in mainland China ranges from 89% to 93%
According to a report from the Economic Information Agency on the 6th, Swire Properties (01972) announced that in the third quarter of this year, the occupancy rate of three retail properties in Hong Kong remained at 100%. Retail sales at Pacific Place shopping mall increased by 3.6% year-on-year; Cityplaza rose by 3% year-on-year; and East Point City saw a slight increase of 0.2% year-on-year. As of the end of September, the overall office occupancy rate in Hong Kong was 92%, an increase of 1 percentage point from the end of last year. During the quarter, rental adjustments for Pacific Place and Taikoo Place decreased by 13% and 15%, respectively. The rental adjustments for the East Island Center and Taikoo Place One were reduced by 14% and 15%, respectively. The office occupancy rate in mainland China ranged from 89% to 93%. (rh)
