Swire Properties 4Q Results no Surprise With Steady Office and Improving Retail
Swire Properties’ fourth-quarter results were no surprise. In Hong Kong, with minimal amount of lease renewal during the quarter, the office portfolio showed largely the same positive rental reversion as before. Occupancy rate was unchanged at 99%. On the retail side, retail sales at Pacific Place were up 7.2% year to date, a continuing steady improvement since turning positive at interim, after a decline of two years. Cityplaza saw retail sales decline moderate to negative 3%, mostly attributed...
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