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26 Nov 2008
One Island East's Occupancy Reaches 94%

Swire Properties' landmark building on Hong Kong Island, One Island East, has secured a further commitment of approximately 45,000 square feet, which serves to further underscore Island East's status as the premier business community hub outside of Central. Occupancy at One Island East, a 70-storey, 1.5 million sq ft office development of Triple Grade "A" specification, has increased to 94% with only a little over three floors remaining vacant.

The two prestigious covenants, Transamerica and Citrix, join a host of Fortune 500 companies spanning a broad cross-section of business sectors including financial, shipping, property, accountancy, insurance and trading as well as some of the world's notable consumer brand names. Current tenants located in One Island East include DBS Bank, JPMorgan, CLSA, Fidelity International, AXA Rosenberg Investment, Citibank, and Convoy Financial who are also joined by Zurich Insurance Group, Aedas, The Marketing Store, ZIM Shipping, Ernst & Young, Shriro Pacific, Tiffany & Co., AIA, Club 21, China Shipping, and Christian Dior.

Mr Don Taylor, Senior Portfolio Manager of Swire Properties said, "We are very pleased to welcome Transamerica and Citrix to One Island East and Swire Island East. This most recent take-up is yet another ringing endorsement by the business community that Island East continues to be the location of choice for corporates and with only 3.5 floors remaining we look forward to welcoming more companies to the portfolio".

"Citrix is currently undergoing an exciting growth phase across Asia Pacific and the consolidation of our operations in Hong Kong to larger office premises is a testament to this. To sustain the growth momentum and accelerate to the next level, we are investing over USD$2 million in our new state-of-the-art office which will have 30 percent additional space to provision for our future growth," said Wayne Masters, Pacific Controller at Citrix Systems.

The completion of One Island East marks Swire's continuing commitment to its Island East portfolio which now comprises 8 million sq ft of integrated office accommodation in a premium business environment. The building continues to represent best in class for both its specifications and its environmental credentials achieving the highest Platinum rating of the Building Environmental Assessment Method (BEAM), one of the only 2 office developments to have achieved this status in Hong Kong to date.

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About One Island East

One Island East consists of 59 levels of prestige office accommodation, contained within an environmentally efficient glass and aluminium-cladded structure. This iconic development is designed to make a dramatic addition to the Island East skyline, as well as to complement the urban fabric of the surrounding area in which the 12 other portfolio buildings stand. Flanking it is an extensive landscaped plaza containing water features, with immediate access to the Tai Koo and Quarry Bay MTR Stations, plus further public transport services and parking for 1,420 private cars. Nearby will be added a 343-room lifestyle business hotel named East to be completed in 2009 and managed by Swire Hotels.

About Swire Properties

Incorporated in 1972, Swire Properties develops and manages commercial, retail and residential properties which offer exceptional and inviting environments in prime locations, with a strategy to 'hub' its investment proprieties at major mass transportation intersections, providing the highest level of accessibility and connectivity to its tenants and patrons. The completed portfolio in Hong Kong totals over 13 million sq ft of gross floor area, with Island East, Pacific Place and Festival Walk as its core holdings, reflecting its strength in building communities. Besides Hong Kong, the Company has a presence in China, the USA as well as the United Kingdom. In 2008, the Company formed Swire Hotels to create and manage small luxury hotels in Hong Kong, Mainland China and the United Kingdom, providing an exceptional experience for travellers who seek individuality, style and personalised service.

The Company is a wholly-owned subsidiary of the publicly-listed Swire Pacific Limited whose businesses are grouped under five operating divisions - property, aviation, beverages, marine services and trading & industrial.

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