---
title: "SWIRE PROPERTIES maintained a 93% office occupancy rate in Hong Kong for the third quarter"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/219227987.md"
description: "SWIREPROPERTIES announced its third-quarter results for the period ending September 30, with an office rental rate in Hong Kong maintaining at 93% and a retail property rental rate reaching 100%. However, retail sales at the three major shopping malls all experienced declines, with Pacific Place seeing the largest drop of 13.7%. The rental rates for office properties in mainland China generally declined, while Taikoo Hui maintained at 92%. The company is developing seven investment properties and hotels, which are expected to be completed gradually starting in 2025"
datetime: "2024-11-09T00:17:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/219227987.md)
  - [en](https://longbridge.com/en/news/219227987.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/219227987.md)
---

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# SWIRE PROPERTIES maintained a 93% office occupancy rate in Hong Kong for the third quarter

SWIRE PROPERTIES (1972) announced that as of September 30 this year, the office occupancy rate in Hong Kong for the third quarter was 93%, similar to the end of last year. During the period, the occupancy rate of retail properties in Hong Kong reached 100%, but the retail sales of the three major shopping malls recorded a year-on-year decline.

The company stated that the rental adjustment for office properties in Hong Kong during the third quarter (including lease renewals, new leases, and rent reviews) saw a decline ranging from 9% to 16%. Among them, the drop for One Taikoo Place and Taikoo Shing was only 9%, with the occupancy rate rising from 93% at the end of last year to 95%; however, the rental decline for Taikoo Plaza reached 16%, with the occupancy rate falling from 98% at the end of last year to 95%.

Regarding retail properties in Hong Kong, the occupancy rate reached 100% during the period, but the retail sales of the three major shopping malls all declined, with Taikoo Plaza shopping mall experiencing the largest drop of 13.7%; Taikoo City Centre and Cityplaza recorded year-on-year sales declines of 3.9% and 4.8%, respectively.

**Seven investment properties and hotels are being developed in Mainland China**

In terms of office properties in Mainland China, only Taikoo Hui office maintained a 92% occupancy rate, while the occupancy rates for One Pacific Place and Hong Kong Industrial Centre One and Two dropped to 80% and 97%, respectively, down 5 and 1 percentage points compared to the end of last year.

For the six retail properties in Mainland China, the occupancy rates ranged from 93% to 100%, and the retail sales in the third quarter also reported declines, with drops ranging from 0.1% to 20.7%. The company indicated that structural and renovation works for the North District of Sanlitun Taikoo Li in Beijing and Xinyi Taikoo Hui in Shanghai, as well as the renovation works for Taikoo Li in Chengdu, are currently underway. The retail sales data has not been adjusted to reflect sales losses due to the closure of related stores.

The company also announced that it is currently developing seven investment properties and hotels in Mainland China, with a total floor area of over 1.5 million square meters, expected to be completed gradually starting in 2025. **(Reporter Su Shang)**

### 相關股票

- [SWIREPROPERTIES (01972.HK)](https://longbridge.com/zh-HK/quote/01972.HK.md)

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