Bai Deli: Quality residential land is too difficult

Swire Properties (01972) has performed relatively low in the residential market in recent years, and Guy Bradley said that the group is still very interested in quality land, but it is too difficult.

Group style attack quality location

In recent years, Swire Properties has focused on the development of commercial properties. As for residential projects, there are relatively few residential projects. Bai Deli said that the group was active a few years ago, including the launch of Ho Man Tin DUNBAR PLACE, Quarry Bay MPR, etc., when sales were very satisfactory, he stressed Group style specializes in quality locations.

“The Group has undoubtedly not added too much land reserves. We are not interested in the residential market. We just did not encounter suitable opportunities. Don’t forget that the Group has developed residential properties in the Mainland, Singapore, and the United States, but it is not currently found in Hong Kong. For the right projects, we have always been very careful in picking areas,” he said.

The Government has repeatedly introduced property market measures for many years. He believes that it is only short-lived. The long-term view of land supply also means that “the government does not constitute a small number of residential projects in recent years. Hong Kong’s quality land is not easy. The admission fee includes high land prices.” In the price trend, he thinks: “The interest rate is upward and the worries of the trade war are not necessarily good news for the property market. However, Hong Kong still has a small supply and a large demand.”

Wan Chai Project completed in 2022

Bai Deli said that the group still has residential project development on hand, involving Yongfeng Street in Wanchai. The demolition project is underway and will be redeveloped into a 25-storey residential tower, which is expected to be completed in 2022.

The Swire Group, which has been in Hong Kong for 150 years, has a long history and is a well-known brand across real estate, aviation, beverages, shipping, etc. In order to promote the company’s sustainable development, the Group has established a 2030 sustainable development vision in 2016 and recently obtained it. Many awards, including the “Sustainable Business Leadership” of the Asia Pacific Green Building Leadership Awards (2018) organized by the World Green Building Council, are also the only real estate developers and multinational companies in Hong Kong and Mainland China to be included in Dow Jones Sustainability this year. Develop the world index. Bai Deli believes that “the company must continue to develop and hope to develop for the next 150 years.”