Swire Properties' Hong Kong Portfolio Steady; Slower Booking of Trading Property Revenue
Swire Properties reported in line operating results for fourth-quarter 2018. In Hong Kong, the office portfolio at Pacific Place is largely unchanged from prior quarters as the bulk of the renewal occurred during earlier in the year. Reversions for other office assets remained tepid at 6% to 7%. The aggregate occupancy rate was steady at 99% at end of the quarter. Office demand in the central business district has cooled off a bit with Chinese corporates retreating. We expect the company’s Pacif...
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