Swire Properties has signed a framework cooperation agreement with the Chaoyang District Government and Beijing Public Transport Corporation ("BPTC") to transform a BPTC maintenance plant into a new cultural and commercial destination. The site is located just to the north of Swire Properties' Taikoo Li Sanlitun development at Xindong Road in the Chaoyang district of Beijing, and the company will collaborate in the planning, design, positioning, operational and management aspects of the project, drawing on its expertise in urban regeneration and creative approach to transformational placemaking.
The initiative will transform the BPTC site into an international consumer hub for "first" and flagship retail stores, as well as a cultural precinct. "We are honoured to be participating in the long-term development of Chaoyang District and excited to have this opportunity to play our role in contributing to the government’s vision for the development of Cultural Sanlitun," said Tim Blackburn, Swire Properties' Chief Executive.
