206-Year-Old Swire Bets Another $15 Billion on China Growth
- Company will invest in property to health care over a decade
- Swire is sticking to Hong Kong as city faces growing exodus
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Swire Pacific Ltd. is doubling down on its mainland China expansion and reaffirming its commitment to Hong Kong as the sprawling business empire shows tentative signs of revival following three years of political and pandemic-linked turmoil.
The company’s real-estate arm will invest HK$100 billion ($12.8 billion) in the region over the next decade, with more than half going to mainland China and focusing on retail-led, mixed-use property projects in major cities, Chairman Guy Bradley said in a statement Thursday. One third will be used to expand the group’s key commercial complexes in Hong Kong. Swire is also seeking opportunities in residential projects in its core markets, he said.