Third-Quarter Operating Statement Contains No Surprises
Swire Property released its third-quarter 2016 operating statement. In Hong Kong, the office portfolio remained strong, in line with our view. Pacific Place, with nearly 630,000 square feet renewal for the year through September, saw a positive rental reversion of 14%. Other office assets--Cityplaza, Taikoo Place, and One Island East--all showed strong positive rental reversions with steady occupancy rates. While the Hong Kong office market may soften, owing to a weaker economic outlook, a small...
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