Swire Properties’ (1972) shopping malls in its third quarter ended September 2025 continued to outperform the market as all achieved 100 percent occupancy, driven by a compelling tenant mix upgrade and engaging activations.
Pacific Place, Cityplaza and Citygate Outlets delivered positive year-on-year retail sales growth, the company said.
Swire said it remains optimistic about sales performance and footfall in the fourth quarter. This outlook is supported by appealing tenant mix, upcoming festive marketing campaigns, improving local consumer sentiment, and the government’s efforts to promote tourism by hosting mega events.
Swire’s leasing activity, in terms of inspections, saw an uptick in the third quarter, partly supported by a more active initial public offerings market. However, high vacancy rates and new supply continue to exert downward pressure on rents.
Despite this, overall occupancy of office properties at Pacific Place has improved one percent to 96 percent as rents fell by 13 percent year-on-year; while that of Taikoo Place stands firm at 90 percent as rents for the first nine months fell by 15 percent year-on-year.
Swire’s newest Grade-A office towers, Two Taikoo Place and Six Pacific Place, both registered an increase in occupancy, reaching 73 percent and 65 percent respectively.
In terms of retail performance in mainland China, all six malls of Swire recorded positive year-on-year sales growth, with retail sales doubling year-on-year at the leading mall HKRI Taikoo Hui in Shanghai, driven by the successful launch of “The Louis”.
