Swire Pacific Limited (Stock Codes: 00019 and 00087) and Swire Properties Limited (Stock Code: 01972) have released the Fourth Quarter 2025 Operating Statement. The announcement provides updated figures for offices, retail operations, investment properties under development, and trading properties in Hong Kong and the Chinese Mainland.

Swire Properties’ office portfolio in Hong Kong recorded changes in occupancy and rent reversions. Pacific Place rose from 95% occupancy on 31 December 2024 to 96% on 31 December 2025, with an area let of 384,575 square feet and a -13% reversion. Headline rentals ranged from HK$85 to HK$95 per square foot at One and Two Pacific Place, and HK$80 to HK$90 at Three Pacific Place. Taikoo Place (excluding Two Taikoo Place, completed in September 2022) recorded an overall occupancy decline from 93% to 89% and an area let of 702,595 square feet with a -15% reversion. Within Taikoo Place, One Island East & One Taikoo Place declined from 94% occupancy to 91%, achieved 270,117 square feet of new or renewed lettings, and noted a -14% reversion with headline rentals in the low HK$50s to mid-HK$60s range. Two Taikoo Place’s occupancy rose from 69% to 73%, while other Taikoo Place office towers (including Cambridge House, FWD Tower, Dorset House, Lincoln House, Oxford House, and PCCW Tower) ranged from 91% to 88% occupancy, with -15% reversion and rentals from the mid-HK$30s to high-HK$40s.

Overall office occupancy for Hong Kong reached 91% as of 31 December 2025 (compared with 93% a year earlier), excluding Two Taikoo Place and Six Pacific Place. Including those two properties, the occupancy rate remained at 89% on both 31 December 2024 and 31 December 2025.

In the Chinese Mainland, Taikoo Hui Offices in Guangzhou maintained an occupancy rate of 90% as of 31 December 2025 (unchanged from a year earlier), with an area let of 19,649 square metres and headline rentals ranging from the mid-RMB100s to the low-RMB200s per square metre. ONE INDIGO in Beijing increased occupancy from 83% to 93%, letting 23,973 square metres, with rentals in the high-RMB100s to low-RMB200s range. HKRI Centre 1 & Centre 2 in Shanghai recorded a occupancy change from 96% to 93%, letting 59,221 square metres, and had headline rentals in the low-RMB300s to low-RMB400s range.

In the retail sector, overall occupancy in Hong Kong malls (The Mall at Pacific Place, Cityplaza, and Citygate Outlets) reached 100% as of 31 December 2025, with year-on-year retail sales increases of +5.6%, +2.7%, and +1.6% respectively. In the Chinese Mainland, Taikoo Li Sanlitun in Beijing was 99% occupied (+11.2% in retail sales), and HKRI Taikoo Hui in Shanghai progressed from 93% to 96% occupancy (+49.6% in retail sales) while undergoing structural and reconfiguration works for tenant mix enhancement. Taikoo Li Chengdu stood at 97% occupancy (+6.5% in sales), INDIGO in Beijing at 99% (+2.7% in sales), Taikoo Hui in Guangzhou at 100% (+1.6% in sales), and Taikoo Li Qiantan in Shanghai at 98% (+6.9% in sales).

Investment properties under development in the Chinese Mainland include Taikoo Place Beijing (375,837 square metres; phased completion from late 2026), Taikoo Li Sanya (231,038 square metres; phased completion from 2026), Shanghai New Bund Mixed-use Project (273,484 square metres; completion 2026), Lujiazui Taikoo Yuan in Shanghai (268,158 square metres; phased from 2026), Taikoo Li Xi’an (269,056 square metres; from 2027), Taikoo Li Julong Wan Guangzhou (66,838 square metres as of 31 December 2025; phased from 2027), and Phase 3 of Taikoo Hui in Guangzhou (60,831 square metres; from 2027). Progress across these developments involves superstructure, façade work, and interior fit-outs.

Trading properties in Hong Kong include THE HEADLAND RESIDENCES (692,276 square feet, phased completion from 2025, with the first phase occupation permit obtained in August 2025), 269 Queen’s Road East (102,990 square feet, completion in 2027), and 983-987A King’s Road and 16-94 Pan Hoi Street (404,738 square feet, completion in 2028). In the Chinese Mainland, Century Summit and Century Heights in Shanghai are both scheduled for completion and handover by the end of 2026, while Lujiazui Taikoo Yuan Residences are scheduled for phased completion and handover from 2026. In Bangkok, the Upper House Residences Bangkok and The Wireless Residences by Upper House are at substructure stage, with total gross floor area of 1,632,067 square feet and phased completion from 2029.

As of 3 February 2026, EIGHT STAR STREET in Hong Kong had an average sale price of HK$39,995 per square foot, with one unit sold in 2025 and the remaining unit sold in 2026. LA MONTAGNE Phase 4A sold or presold 350 out of 432 units at an average price of HK$26,050. THE HEADLAND RESIDENCES Phase 1 recorded 112 sales to be recognised in 2026 at an average price of HK$17,010. Two luxury units at 6 Deep Water Bay Road also await recognition in 2026 at HK$147,010 per square foot. Savyavasa in Jakarta had 180 units sold or presold out of 402, averaging IDR5,992,989 per square foot, with recognition timelines in 2026 and 2027.

In mainland China’s trading properties, Century Summit in Shanghai expects 67,983 square metres of sold area to be recognised by the end of 2026 (average RMB129,800 per square metre). Century Heights has sold 37,250 square metres for recognition by the end of 2026, at an average price of RMB132,000 per square metre. Lujiazui Taikoo Yuan Residences has launched 58,403 square metres of saleable area and sold or presold 55,793 square metres at an average price of RMB172,818, with recognition expected by the end of 2026 and 2027.

According to the announcement, investors are advised to exercise caution when dealing in the shares of Swire Pacific Limited and Swire Properties Limited. The statement includes a reminder of the respective boards of directors for both companies. The announcement was issued in Hong Kong on 5 February 2026.