Swire Properties to double down investment in Chinese mainland

Hong Kong real estate developer Swire Properties plans to invest HK$50 billion (US$6.4 billion, 44  billion yuan) in the Chinese mainland market in the next decade, said chief executive Tim Blackburn on Wednesday in a conference call. 

Swire’s revenue in 2022 dropped 15 percent to HK$13.8 billion. Operations in the mainland brought in about HK$2.5 billion profit last year while Hong Kong posted a HK$1.17-billion loss. 

Last year Swire completed deals in Xi’an, Chengdu and Shanghai.