Swire Properties Hong Kong office occupancy rose to 97% in 2Q 2014

It’s a slight increase from end-2013.

The Hong Kong office portfolio occupancy of Swire Properties rose to 97% as of June 2014.

According to a research note from Barclays, the results were stated in Swire Properties’ quarterly operating statement.

Meanwhile, notably, Pacific Place’s office occupancy improved from 91% to 93% in 2Q 2014 with 5% rental revision, which is slightly slower than 8% in 1Q.

Here’s more from Barclays:

For the retail portfolio, all shopping malls remained fully occupied.

However, tenant retail sales growth in Hong Kong was more muted with +0.8% at Pacific Place Mall, -5.6% at Cityplaza Mall (due to the renovation) and +5.3% at Citygate Outlets.

In China, office occupancy in Taikoo Hui Office was up from 89% at end-2013 to 99% in June, while retails sales continued to be strong with retail sales growth of +22.8% at Taikoo Li Sanlitun, +13.0% at Taikoo Hui Mall and +94.4% in INDIGO Mall.