Swire Pacific : Quarterly Operating Statement of Swire Properties Limited - Second Quarter 2020

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SWIRE PACIFIC LIMITED

太古股份有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Codes: 00019 and 00087)

SWIRE PROPERTIES LIMITED

太古地產有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 1972)

Announcement

Quarterly Operating Statement of Swire Properties Limited

Second Quarter 2020

This statement contains certain operating information about Swire Properties Limited in relation to the second quarter of 2020. The information has been prepared on the basis of internal management records. It has not been audited or reviewed by external auditors.

1. Completed Investment PropertiesOffice

Principal	Occupancy	Area Let	Reversion (1)	Latest Rentals
Properties			(New and	(For the six	(Headline)
			renewed	months ended
			tenancies)	30 Jun 2020)
	(As at	(As at	(For the six	(including rent
	31 Dec	30 Jun	months ended	reviews)
	2019)	2020)	30 Jun 2020)
Hong Kong			(sq ft)		(HK$ psf)
Pacific Place	98%	97%	260,881	+ 2%	1PP / 2PP: 115 - 135
					3PP: 105 - 110
Taikoo Place (2)	99%	98%	330,071	+ 12%	mid 40s - mid 50s
One Island East &	100%	100%	321,299	+ 11%	mid 50s - low 70s
One Taikoo Place
Overall HK Office	99%	97%	N/A	N/A	N/A
Chinese mainland			(sq m)		(RMB psm)
Taikoo Hui Offices	97%	95%	4,551	N/A	mid 100s - low 200s
ONE INDIGO	76%	74%	10,991	N/A	high 200s - low 300s
HKRI Centre 1 &	99%	97%	12,781	N/A	mid 300s - mid 400s
Centre 2

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Retail

Principal Properties		Occupancy			Retail Sales
								Growth
		(As at			(As at			(For the six
						months ended
		31 Dec			30 Jun
						30 Jun 2020)
		2019)			2020)
Hong Kong
The Mall, Pacific Place	100%	100%	- 47.1%
Cityplaza	100%	100%	- 20.3%
Citygate Outlets	98%	99%		- 25.6%
Chinese mainland
Taikoo Li Sanlitun		100%			96%			- 38.1%
Taikoo Hui, Guangzhou	99%	99%		+ 3.4%
INDIGO		100%			96%			- 6.3%
Sino-Ocean Taikoo Li Chengdu	97%	95%		- 15.0%
HKRI Taikoo Hui, Shanghai		98%			94%			+ 1.6 %
Miami, Florida, USA
Brickell City Centre		90% (3)			93% (3)			- 48.2%

Notes:

1. Reversion is the percentage change in rent on lease renewals, entry into new leases and rent reviews.
2. Including PCCW Tower.
3. Including space allocated to prospective tenants who have signed letters of intent.

2. Investment Properties and Hotels under Development

Principal Properties	GFA	Expected	Development Status
	(100% basis)	Completion
Hong Kong	(sq ft)
Two Taikoo Place	~1,000,000	2022	- Superstructure works in
			progress.
46-56 Queen's Road East, 1A-11	~218,000	2023	- Foundation works in progress.
Landale Street, 2A-12 Anton Street
Chinese mainland	(sq m)
Taikoo Li Qiantan, Shanghai	115,850	2020	- Façade, interior decoration,
			mechanical and electrical
			installation works in progress.

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Principal Properties	GFA	Expected	Development Status
	(100% basis)	Completion
Miami, Florida, USA	(sq ft)
One Brickell City Centre	1,967,000 (4) (5)	To be determined	- Future development under
			planning.

Notes:

1. Represents leasable or saleable area.
2. Including residential portion.

3. Trading Properties

Trading Properties		GFA	Expected	Expected	Development Status
		(100% basis)	Completion	Handover
Hong Kong		(sq ft)
8 Star Street		30,867 (6)	2022	2022	-	Superstructure works in
(formerly known as "21-31						progress.
Wing Fung Street")
Wong Chuk Hang Station	638,305	2024	2025	-	Design in progress.
Package Four Property
Development
Jakarta, Indonesia
South Jakarta Project	1,122,728	2023	2023	- Piling works in progress.
Trading Properties		Saleable	Total	Units Sold		Average Sale Price
(As at 28 July 2020)		Area (7)	Units			(based on saleable area)
		(100% basis)
Miami, Florida, USA		(sq ft)				(US$ psf)
Reach, Brickell City Centre		51,505	390	364 (8)		mid 600s
Rise, Brickell City Centre		152,177	390	286 (9)		high 600s

Notes:

1. Excluding a retail podium of approximately 2,835 sq ft which will be retained by the Company for investment purposes.
2. Represents the saleable area of the remaining unsold units.
3. The profit from the sale of 363 units was recognised before 2020. The profit from the sale of one unit was recognised in the first half of 2020.
4. The profit from the sale of 272 units was recognised before 2020. The profit from the sale of 11 units was recognised in the first half of 2020 and the profit from the sale of three units is expected to be recognised in the second half of 2020.

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Investors are advised to exercise caution in dealing in shares of Swire Pacific Limited and Swire Properties Limited.

As at the date of this announcement, the Directors of Swire Pacific Limited are:

Executive Directors: M.B. Swire (Chairman), D.P. Cogman, M.M.S. Low, Z.P. Zhang;

Non-Executive Directors: M. Cubbon, S.C. Swire; and

Independent Non-Executive Directors: P.K. Etchells, T.G. Freshwater, C. Lee, R.W.M. Lee and G.R.H. Orr.

As at the date of this announcement, the Directors of Swire Properties Limited are:

Executive Directors: M.B. Swire (Chairman), G.M.C. Bradley, F.N.Y. Lung;

Non-Executive Directors: N.A.H. Fenwick, P. Healy, R.S.K. Lim, M.M.S. Low; and

Independent Non-Executive Directors: L.K.L. Cheng, T.T.K. Choi, S.T. Fung, J.L. Wang and M.Y. Wu.

By Order of the Board	By Order of the Board
SWIRE PACIFIC LIMITED	SWIRE PROPERTIES LIMITED
太古股份有限公司	太古地產有限公司
St.John Flaherty	St.John Flaherty
Company Secretary	Company Secretary
Hong Kong, 31st July 2020	Hong Kong, 31st July 2020

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