|For Immediate Release||4 March 2022|
Development Co. to Develop Taikoo Li Xi'an
4 March 2022, Beijing - Swire Properties is pleased to announce that it will partner with Xi'an Cheng Huan Cultural Investment and Development Co., Ltd. ("Xi'an Cheng Huan Cultural"), a state-owned subsidiary of Xi'an Qujiang New District Management Committee, to develop Taikoo Li Xi'an, the Company's seventh development in the Chinese Mainland, located at the Small Wild Goose Pagoda historical and cultural zone (小雁塔歷史文化片區) in Beilin District, Xi'an in Shaanxi Province.
The milestone was announced today after the two companies successfully acquired (via government land tender) a site for commercial development in Beilin District of Xi'an, at a total price of RMB 2,575 million. The two companies will form a joint venture to develop the site as a retail-led mixed-use development, in which Swire Properties and Xi'an Cheng Huan Cultural will each hold a 70% and 30% interest respectively. The total investment for this new development is expected to be approximately RMB 10 billion. Xi'an becomes the fifth city in the Chinese Mainland in which Swire Properties has a business presence, following successes in Beijing, Shanghai, Guangzhou and Chengdu.
"As we celebrate Swire Properties' 50th anniversary in 2022, we are very pleased to have secured our first major investment in Xi'an which testifies to our confidence in Xi'an and our long-term commitment to the Chinese Mainland," said Tim Blackburn, Chief Executive of Swire Properties. "As a UNESCO World Heritage site we recognise the significance of the Small Wild Goose Pagoda historical zone and its importance to the city of Xi'an, and we're excited to bring our Taikoo Li brand to this stunning location. We intend to apply all our expertise and experience in urban regeneration and placemaking to create a vibrant new landmark in Xi'an – a world-class destination which promises to enhance the commercial charm and influence of Xi'an both nationally and internationally."
Taikoo Li Xi'an sits on a site in the heart of downtown Xi'an, at the south of Youyi Road, west of Chang'an Road, north of Stadium North Road and east of Zhuque Street in Beilin District, with a total site area of approximately 119,906 square metres. The site is located within the Small Wild Goose Pagoda historical and cultural zone, a scenic area that has profound historical and cultural significance to Xi'an. It is located adjacent to the Small Wild Goose Pagoda, a UNESCO World Heritage site, as well as the Jianfu Temple, a royal temple of Tang Chang'an which was built in 684 AD during the Tang Dynasty. These two wonderful historical relics are an integral part of the Xi'an Museum, a national Grade I museum and National AAAA level tourist attraction. The site enjoys a good transportation network and is conveniently located at the intersection of two metro lines (line 2 and line 5).
Swire Properties will collaborate with Xi'an Cheng Huan Cultural to develop an urban regeneration plan for the area. Blending the old and the new, Taikoo Li Xi'an will pay tribute to local history, culture and heritage whilst immersing visitors in a unique retail, cultural and lifestyle experience.
The site will be developed into a retail-led project featuring an innovative low-rise, open-plan architectural design that exemplifies the brand DNA of Taikoo Li, and will comprise retail and cultural facilities in addition to a luxury hotel, serviced residences and business apartments. With an estimated gross floor area (GFA) of 269,218 sqm (above and below ground), this will be Swire Properties' fourth Taikoo Li in the Chinese Mainland, tailor-made for the Small Wild Goose Pagoda historical and cultural zone in Xi'an, following the successful development of Taikoo Li Sanlitun in Beijing, Sino-Ocean Taikoo Li Chengdu and Taikoo Li Qiantan in Shanghai. The project is expected to be completed by end of 2025.
"As a national cultural industry demonstration district, Qujiang New District has been deeply engaged in urban regeneration and cultural development," said a spokesperson for Xi'an Qujiang New District Management Committee. "We share a common vision with Swire Properties, in terms of preserving the city's cultural heritage, protecting historical relics and integrating culture, commerce and travel. We are very pleased to collaborate with Swire Properties on this project, and we expect that together we will develop a Taikoo Li project of profound historical and cultural characteristics in Xi'an."
As one of the birthplaces of the nation and a cradle of Chinese civilisation, Xi'an boasts amazing historical charm as well as tremendous modern vitality, re-emerging into a leading city since the "Western Region Development Strategy" launched in the 1990s. Since 2017, the Xi'an Municipal Government has been driving a comprehensive redevelopment of the Small Wild Goose Pagoda historical and cultural zone, as part of a major reconstruction project to improve the urban environment, protection of historical relics and the broader economic development of the city, with the aim of building a "Quality Xi'an". Taikoo Li Xi'an will play a key role in the urban redevelopment of the area.
As a world-famous ancient capital, Xi'an, known as Chang'an ("eternal city") in ancient times, is one of the four great ancient civilisations in the world, alongside Athens, Rome and Cairo. It boasts some of the world's richest cultural heritage sites, as the eastern starting point of the Silk Road, and as home to the famous Terracotta Warriors – dubbed the "Eighth Wonder of the World".
1. Taikoo Li Xi'an sits on a site in the heart of downtown Xi'an, located within the Small Wild Goose Pagoda historical and cultural zone in Beilin District, with a total site area of approximately 119,906 square metres.
2. Project rendering of Taikoo Li Xi'an
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, Cityplaza and Pacific Place. In addition to Hong Kong, the Company has investments in the Chinese Mainland, the United States, Indonesia and Vietnam.
In the Chinese Mainland, Swire Properties has six completed mixed-use developments in Beijing, Shanghai, Guangzhou and Chengdu. They include Taikoo Li Sanlitun and INDIGO in Beijing, HKRI Taikoo Hui and Taikoo Li Qiantan in Shanghai, Taikoo Hui Guangzhou and Sino-Ocean Taikoo Li Chengdu. INDIGO Phase Two in Beijing is currently under development. The Company's completed portfolio in the Chinese Mainland comprises approximately 1.3 million sqm of space.
Visit Swire Properties' website at www.swireproperties.com.
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|Swire Properties (Chinese Mainland)|
|Audrey Li||Sylvie Pan|
|Assistant Director - Public Affairs||Senior Public Affairs Officer|
|Tel: (010) 8591 9221||Tel: (010) 8591 9223|
|Email: AudreyLi@swireproperties.com||Email: SylviePan@swireproperties.com|
|Swire Properties (Hong Kong)|
|Wayne Leung||Matthew Chick|
|Assistant General Manager, Public Affairs||Assistant Public Affairs Manager|
|Tel: (852) 2844 3038/ (852) 9628 7993||Tel: (852) 2844 3036/ (852) 9385 3814|
|Email: WayneLeung@swireproperties.com||Email: MatthewChick@swireproperties.com|