Swire Pacific : Quarterly Operating Statement of Swire Properties Limited - First Quarter 2021

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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: 01972)

Announcement

Quarterly Operating Statement of Swire Properties Limited

First Quarter 2021

This statement contains certain operating information about Swire Properties Limited in relation to the first quarter of 2021. 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 three	(Headline)
			renewed	months ended
			tenancies)	31 Mar 2021)
	(As at	(As at	(For the three	(including rent
	31 Dec	31 Mar	months ended	reviews)
	2020)	2021)	31 Mar 2021)
Hong Kong			(sq ft)		(HK$ psf)
Pacific Place	95%	98%	296,644	- 7%	1PP / 2PP: 100 - 120
					3PP: 90
Taikoo Place (2)	98%	98%	319,818	+ 0%	mid 40s - mid 50s
One Island East &	100%	100%	45,482	+ 9%	mid 50s - low 70s
One Taikoo Place
Overall HK Office	96%	97%	N/A	N/A	N/A
Chinese mainland			(sq m)		(RMB psm)
Taikoo Hui Offices	95%	96%	11,258	N/A	mid 100s - low 200s
ONE INDIGO	70%	87%	13,336	N/A	low 200s - high 200s
HKRI Centre 1 &	97%	99%	20,234	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 three
				months ended
		31 Dec		31 Mar
				31 Mar 2021)
	2020)	2021)
Hong Kong
The Mall, Pacific Place		96%		96%		+ 31.1%
Cityplaza	100%	100%	+ 2.3%
Citygate Outlets	99%	95%	+ 23.4%
Chinese mainland
Taikoo Li Sanlitun		99%		100%		+ 113.0%
Taikoo Hui, Guangzhou	100%	100%	+ 169.6%
INDIGO		98%		98%		+ 3.3%
Sino-Ocean Taikoo Li Chengdu	95%	96%	+ 122.7%
HKRI Taikoo Hui, Shanghai		95%		97%		+ 171.0%
Miami, Florida, USA
Brickell City Centre		95% (3)		96% (3)		- 32.6%

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)	Actual
		Completion
Hong Kong	(sq ft)
Two Taikoo Place	~1,000,000	2022	-	Superstructure works in
				progress.
46-56 Queen's Road East	~218,000	2023	-	Superstructure works in
				progress.
Chinese mainland	(sq m)
Taikoo Li Qiantan, Shanghai	115,016	2020	- Fit out works by tenants in
				progress. Shopping mall is
				expected to open progressively
				from the second half of 2021.
Phase Two extension of INDIGO	379,388 (4)	From	- Excavation works in progress.
		late 2025

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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 (5) (6)	To be determined	- Future development
			under planning.

Notes:

1. The total GFA is subject to change.
2. Represents leasable or saleable area.
3. Including residential portion.

3. Trading Properties

Trading Properties	GFA	Expected	Expected	Development Status
	(100% basis)	Completion	Handover
Hong Kong	(sq ft)
EIGHT STAR STREET	30,856 (7)	2022	2022	-	Superstructure works in
					progress.
Wong Chuk Hang Station	638,305	2024	2025	-	Foundation works in
Package Four Property					progress.
Development
Jakarta, Indonesia
South Jakarta Project	1,122,728	2024	2025	-	Foundation works in
					progress.
Trading Properties	Saleable	Total	Units		Average Sale Price
(As at 2 May 2021)	Area (8)	Units	Pre-sold/		(based on saleable area)
	(100% basis)		Sold
Hong Kong	(sq ft)				(HK$ psf)
EIGHT STAR STREET	13,236	37	15 (9)		39,321
Singapore					(SG$ psf)
EDEN	0	20	20 (10)		4,827
Miami, Florida, USA					(US$ psf)
Reach, Brickell City Centre	46,413	390	367 (11)		mid 600s
Rise, Brickell City Centre	87,956	390	330 (12)		high 600s

Notes:

1. Excluding a retail podium of approximately 2,839 sq ft which will be retained by the Company for investment purposes.
2. Represents the saleable area of the remaining unsold units.
3. Sales of 15 units are expected to be recognised in 2022.
4. Sales of all 20 units are expected to be recognised in 2021.
5. Sales of 365 units were recognised before 2021. Sales of two units are expected to be recognised in 2021.
6. Sales of 301 units were recognised before 2021. Sales of 29 units are expected to be recognised in 2021.
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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.J. Murray, 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.J. Murray; 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, 6th May 2021	Hong Kong, 6th May 2021

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