Copyright © 2024 Swire Pacific Limited. All rights reserved.
Swire Properties and Chinachem Group today announced plans to redevelop Sea View Building and Hoi Wan Building, together with the adjoining Chinachem Exchange Square, into a premium Grade A harbourfront office tower in the heart of Taikoo Place.
The combined site spans approximately 35,000 sq ft, enabling a larger, integrated commercial development. Subject to statutory approvals, the project is expected to deliver approximately 500,000 sq ft of gross floor area (GFA), comprising a 27-storey office tower, a retail podium and basement carparking facilities. The new development is expected to break ground in 2027.
Tim Blackburn, Chief Executive of Swire Properties, said, “We are delighted to partner with Chinachem Group on this significant redevelopment project, which demonstrates our continued confidence in Hong Kong and our long-term commitment to investing in our home market. Over several decades, we have successfully transformed Taikoo Place into a global business and lifestyle district for many of the world's most admired companies. As the needs of occupiers continue to evolve, we remain focused on investing in the quality, connectivity and experience that set Taikoo Place apart. This development represents the next stage in the precinct's evolution, expanding its capacity to support business growth, attract talent and reinforce Hong Kong's position as a leading international financial centre.”
Andy Cheung, Chief Executive Officer of Chinachem Group, said, “As part of Chinachem Group's ongoing asset enhancement strategy, we continue to pursue opportunities to enhance the long-term value and competitiveness of our portfolio through strategic investments and partnerships. This redevelopment reflects our confidence in Hong Kong's future and our belief in the city's continued economic development. Together with Swire Properties, we look forward to delivering a high-quality, integrated development that unlocks the full potential of the site, creating lasting value for tenants, businesses and the wider community.”
The planned office tower forms part of Swire Properties’ ongoing expansion of Taikoo Place under its HK$100 billion investment plan, while also advancing Chinachem Group's commitment to enhance and optimise its portfolio over the long term.
The new building will be designed by award-winning architectural practice WilkinsonEyre, incorporating innovative and sustainable design principles to create a distinctive addition to the district. Through seamless integration with the precinct’s climate-controlled elevated walkway system, the new office tower will benefit from outstanding connectivity, including convenient access to the Quarry Bay MTR Station. Future tenants will be able to enjoy access to Taikoo Place’s extensive amenities, including 70,000 sq ft of landscaped open space, curated tenant engagement programmes and a vibrant mix of retail, dining and wellness offerings.
Taikoo Place is Hong Kong’s leading global business and lifestyle district and home to more than 300 multinational corporations. As occupiers increasingly prioritise high-quality, future-ready workspaces, Taikoo Place has continued to benefit from the ongoing flight-to-quality trend in the office market and has maintained strong leasing momentum. Recent leasing activity includes Prudential Hong Kong's commitment to renew and expand its office footprint to approximately 83,000 sq ft, BNP Paribas' lease renewal spanning approximately 200,000 sq ft, and FWD taking up 330,000 sq ft of office space for a decade, underscoring the sustained demand for premium office space at Taikoo Place. As a pioneer in sustainable real estate, Taikoo Place holds top-tier green and wellness credentials across the portfolio, including prestigious Platinum ratings under WELL, BEAM Plus and LEED.
About Swire Properties
Swire Properties develops and manages commercial, retail, hotel, and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections. Swire Properties is listed on the Main Board of the Stock Exchange of Hong Kong and its investment portfolio in Hong Kong comprises Taikoo Place, Pacific Place, Cityplaza and Citygate. The Company’s completed portfolio in Hong Kong comprises approximately 1.51 million sqm (approximately 16.3 million sq ft) of space.
In the Chinese Mainland, Swire Properties has six completed mixed-use developments. They include Taikoo Li Sanlitun and INDIGO^ in Beijing, HKRI Taikoo Hui and Taikoo Li Qiantan in Shanghai, Taikoo Hui Guangzhou and Taikoo Li Chengdu. Taikoo Place Beijing^, Taikoo Li Xi’an, Taikoo Li Sanya*, the expansion of Taikoo Li Qiantan, Lujiazui Taikoo Yuan in Shanghai and Taikoo Li Julong Wan Guangzhou are currently under development. The Company’s completed portfolio in the Chinese Mainland comprises approximately 1.3 million sqm (14.4 million sq ft) of space.
In addition to Hong Kong and the Chinese Mainland, the Company has a presence in Indonesia, Vietnam, Singapore, Thailand and Miami, U.S.A.
Visit Swire Properties’ website at www.swireproperties.com
^Taikoo Place Beijing will include the existing INDIGO upon completion.
*Project name has yet to be confirmed.
About Chinachem Group
Founded in 1960, Chinachem Group (“CCG”) is a leading private real estate company in Hong Kong. With a diverse portfolio of investment and development properties spanning over 9 million square feet, CCG creates and manages places that contribute to a more liveable, connected and sustainable city. Drawing on its extensive expertise in real estate development, the Group delivers high-quality residential, commercial and mixed-use developments, while its property services business creates enduring value through the management of assets for long-term growth.
Beyond property, CCG also operates hospitality and elderly care businesses through Nina Hospitality and Pine Care Group, creating memorable hospitality experiences and providing professional care that enhances quality of life and well-being.
CCG is dedicated to creating spaces and experiences that enrich everyday life, strengthen communities and shape a better future for generations to come.
Please visit www.chinachemgroup.com/en