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Swire Properties (1972) reported strong retail sales in both Hong Kong and mainland China in the second quarter of 2026, with six malls in the mainland recording double-digit growth.
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Hong Kong malls continued to maintain a 100 percent occupancy rate. The company noted that marketing and promotional activities – such as Pacific Place's The Devil Wears Prada 2 themed event and Cityplaza's collaboration with POP MART – boosted foot traffic and sales performance. Citygate Outlets benefited from an increase in tourist arrivals, particularly during the Labor Day Golden Week, with both foot traffic and sales recording growth.
Rising demand from local shoppers and international tourists drove significant consumption growth in luxury goods, especially watches, jewelry, and gold. The company said that although outbound travel and shifting consumption habits have had an impact, Hong Kong's overall retail sentiment is gradually improving. Through ongoing tenant mix upgrades, marketing campaigns, and membership programs, the company expects mall foot traffic and sales to continue growing in the second half of the year.
On the office leasing front, with improved market sentiment in the second quarter, occupancy rates at Pacific Place and Taikoo Place rose to 98 percent and 90 percent, respectively. Leasing momentum at its newest Grade-A office towers has continued to strengthen, with occupancy reaching 80 percent at Two Taikoo Place and 70 percent at Six Pacific Place.
In mainland China, Taikoo Li Sanlitun and HKRI Taikoo Hui recorded year on year retail sales growth of over 60 percent and 80 percent, respectively, driven primarily by the development of unique premium brand flagship experiences in the northern area of Taikoo Li Sanlitun, as well as strong demand generated by Louis Vuitton's concept landmark project The Louis at HKRI Taikoo Hui in Shanghai. In addition, major festive events such as the Labor Day holiday and the World Cup also boosted consumer spending.
Looking ahead, the malls will roll out a series of marketing campaigns and experiences during the Shanghai Summer International Consumption Season, the Mid-Autumn Festival, and the National Day holidays to attract more customers.
The company also reported strong residential momentum across all core markets, with over 350 units sold at Hong Kong's THE HEADLAND RESIDENCES, record-breaking pricing at Shanghai's Lujiazui Taikoo Yuan Residences, and steady progress on projects in Jakarta and Bangkok.
