Swire Properties Limited released its unaudited operating statement for the first quarter of 2026, detailing steady office performance in Hong Kong alongside robust retail momentum in both Hong Kong and the Chinese Mainland.

Hong Kong office portfolio • Overall Hong Kong office occupancy held at 91%, unchanged from end-2025; inclusion of the newly completed Two Taikoo Place and Six Pacific Place keeps the broader portfolio at 89%. • Pacific Place remained the top performer with 96% occupancy; rental reversions showed a –14% movement* and headline rents ranged HK$85–95 per sq ft at One & Two Pacific Place and HK$80–90 at Three Pacific Place. • Taikoo Place overall occupancy stayed at 89%. One Island East and One Taikoo Place commanded headline rents in the low-50s to mid-60s HK$/sq ft, while Two Taikoo Place, 73% let, achieved the low-50s to high-50s range.

Chinese Mainland offices • Mature assets remained above 90% let: Taikoo Hui Guangzhou (90%), ONE INDIGO Beijing (96%), and HKRI Centre 1 & 2 Shanghai (95%). Headline rents were in the mid-100s to low-400s RMB/sq m.

Retail portfolio • Hong Kong malls were fully let, with first-quarter retail sales up 13.9% at The Mall, Pacific Place; 3.4% at Cityplaza; and 21.8% at Citygate Outlets. • Chinese Mainland retail continued to outperform: Taikoo Li Sanlitun sales jumped 56.2%; HKRI Taikoo Hui Shanghai soared 81.5% despite on-going reconfiguration works; Taikoo Li Chengdu and Taikoo Hui Guangzhou rose 18.4% and 17.6% respectively. Phase 1 of Taikoo Li Julong Wan Guangzhou, which began opening in December 2025, reached 68% occupancy by 31 March 2026.

Development pipeline • Seven mixed-use projects totaling more than 1.56 million sq m GFA are under construction across Shanghai, Sanya, Beijing, Xi’an and Guangzhou, with phased completions commencing from 2026. • In Hong Kong, THE HEADLAND RESIDENCES (692,276 sq ft GFA) secured its Phase 1 occupation permit in August 2025; superstructure works for Phase 2 continue. Other local schemes at 269 Queen’s Road East and the King’s Road/Pan Hoi Street site advance through superstructure and foundation stages.

Residential trading sales • Hong Kong projects recorded high sell-through: EIGHT STAR STREET has sold 36 of 37 units at an average HK$39,995/sq ft; LA MONTAGNE Phase 4A has moved 355 of 432 units at HK$26,256/sq ft. • In Shanghai, 99% of Century Summit and 95% of Century Heights saleable areas are contracted, both scheduled for handover by end-2026. Lujiazui Taikoo Yuan Residences has pre-sold 69,404 sq m (over 91% of approved area) at an average RMB174,485/sq m.

*Reversion figures represent changes in rent on renewals, new leases and reviews, excluding certain long-term leases.