2Q Results for Swire Properties Show Continued Solid Office Demand and Recovering Retail
Swire Properties reported second-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 340,000 square feet during the period, saw a positive rental revision of 15%, compared with 13% a year ago, owing to the spill-over effect of a very tight Central office market. Reversions for office assets in Island East were up 10% with 270,000 square feet renewed during the period. Hong Kong office assets ac...
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