Swire Pacific's costly faux pas

StockHouse LogoThough not a major player in the residential market, Swire Pacific 19, through its subsidiary Swire Properties, got its fingers burnt pretty badly at its Tseung Kwan O residential project, which is a 4949 joint venture development with Sun Hung Kai Properties 16. The original site owners hold the remaining 2%.

The project has a total residential floor area of approximately 4.1 million sq ft, of which 2 million sq ft is attributable to Swire...

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