PROPERTY

The attributable underlying profit from the Property Division decreased by HK$452 million to HK$5,091 million. The decrease principally reflects lower trading profits from the sale of luxury residential properties in Hong Kong. Profit from property investment increased, reflecting positive rental reversions from the Hong Kong portfolio and higher overall rental income from the Mainland China portfolio. The Property Division's net investment property valuation gain in 2013, before deferred tax in Mainland China, was HK$6,946 million, compared to a net gain in 2012 of HK$12,751 million.

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2013 Movement in Underlying Profit

Higher profits from property investment reflecting positive rental reversions in Hong Kong and higher overall rental income in Mainland China.
Lower trading profits in Hong Kong.
Lower profits from hotels reflecting weaker results from Mainland China.

2013 Performance Highlights

Gross rental income
(Hong Kong)
+5%
Gross rental income
(Mainland China)
+18%

Properties Under Development – Daci Temple Project (Chengdu, Mainland China) – Dazhongli Project (Shanghai, Mainland China) – Brickell City Centre (Miami, Florida, USA)

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  • Total Gross Floor Area: 2,749,653 sf
  • Scheduled to open in phases from 2014
  • Swire Properties accounts for its 50% interest
  • Superstructure and façade installation works are in progress
  • 89% of the gross floor area of Pinnacle One pre-sold during the year
Pinnacle One
1,299,882 sf
  • 200-metre high Grade A office tower
The Temple House
(Hotel & Serviced Apartment)
245,904 sf
  • 100 guest rooms
  • 42 serviced apartments
Serviced Apartments
82,076sf
Sino-Ocean
Taikoo Li Chengdu
1,203,867 sf
  • street style retail complex
  • similar concept to Taikoo Li Sanlitun
  • 300 retail and dining outlets
  • Total Gross Floor Area: 3,457,375 sf
  • Scheduled to open in phases from 2016
  • Linked to West Nanjing Road Station
  • Metro Lines 2, 12 and 13 will converge at an interchange to be built close to the site
  • Swire Properties accounts for its 50% interest
  • Site clearance completed and work on the foundations and basements is progressing
Office Towers
1,851,408 sf
Hotels
527,307 sf
Shopping Mall
1,078,660 sf
  • Total Gross Floor Area: 2,716,000 sf (phase I) and 1,300,000 sf
    (phase II)
  • Construction of phase I is underway and completion is scheduled for 2015
  • Brickell Avenue site acquired in July 2013 to be incorporated into phase II of the development
  • Swire Properties owns 100% of the office, hotel and residential portions and 87.5% of the retail portion of phase I
  • Swire Properties owns 100% of phase II
Condominiums
1,114,000 sf
EAST, Miami
(Hotel & Serviced Apartment)
327,000 sf
  • 375 guest rooms and serviced
    apartments
Shopping Mall
565,000 sf
  • with ground-level parking spaces
Offices
260,000 sf
Future Development
(Phase II)
1,300,000 sf
  • mixed use development comprising retail, office, hotel and condominium space
  • including an 80 storey tower called One Brickell City Centre
Note: These diagrams are not to scale and are for illustration purpose only.