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 Pacific. This is the Groups largest residential development project slated for sale in terms of attributable floor area.

stockhouse swire picShrewd as the Group has always been in making business decisions, it was a case of...

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