1Q Results Show Strong Office and Recovering Retail
Swire Property has reported first-quarter 2017 operating results. In Hong Kong, the office portfolio continued to perform well, in line with our view. Pacific Place, with renewal of nearly 200,000 square feet during the period, saw even stronger positive rental revision of 15%, on top of the 13% seen during the year-ago period, owing to the spill-over effect of a very tight Central office market. Reversions for other office assets in Island East have slowed, with rates staying flat year on year....
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