Swire Plans to Add China Land as Local Rivals Face Tightening
Sep 27, 2011
Swire Pacific, the biggest developer in Hong Kong’s Island East district, plans to add projects in other parts of China as local rivals face credit tightening.
“We’re looking and seeing what opportunities are there,” Martin Cubbon, chief executive officer of Swire Properties, the group’s real estate unit, said in an interview with Bloomberg Television in Guangzhou.
Swire is building five projects with a total gross floor area of 12.9 million square feet.
“We’re in an opportunistic mode,” said Cubbon. “Having five projects may mean we’re not quite aggressive in buying right now. But for the medium term we certainly are.”