The tagline selected for Swire Properties’ 50th anniversary celebrations is “ORIGINAL. ALWAYS.”. It seeks to capture the spirit of creative transformation that has defined the company from day one.
A long-term approach to originality, sustainability, partnerships and to building communities is at the heart of the five-decade success story.
Celebration and community support
Whilst recognising the significance and the importance of marking this anniversary, Blackburn is sensitive to any over-enthusiastic celebrations in the midst of such difficult times for many people in Hong Kong and in cities on the Chinese Mainland.
Subject to social distancing regulations, a 12-month schedule of cultural and community events is planned with a number of local and international partners, including the V&A, Art Basel and a youth exchange programme arranged with the Hong Kong Palace Museum.
“I think it’s about the ways in which we choose to celebrate our 50th anniversary, and for it to be pitched appropriately – this isn’t about celebrating our success as a property developer, rather this milestone is an opportunity to celebrate our people and the communities that we have built over time,” he says.
Standing shoulder to shoulder with those communities in challenging times has been key to establishing long-term relationships built on trust. The company adopted a strong leadership position earlier this year, by offering unprecedented levels of support to tenants and stakeholders in Hong Kong and on the Chinese Mainland affected by the global pandemic.
“We have offered various forms of support including rental concessions, where necessary. If you look at the results, the occupancy rates at our Hong Kong malls are all close to 100% and it’s a similar story on the Chinese Mainland,” he says.
On the Chinese Mainland, help during the pandemic has also extended to collaborating with Cathay Pacific to deliver PPE in Chengdu and Xi’an. Last December, the Swire Properties team was among the first to donate materials and supplies to Xi’an. More recently, to support Shanghai during the pandemic, Swire Properties – together with other Swire group companies – donated to the Jing’an district government to support their efforts in managing supplies and materials.
“We’ve generated a lot of goodwill over the last couple of years despite the most demanding conditions,” says Blackburn.
Growth on the Chinese Mainland
That solidarity with the community has served to cement already strong relationships on the Chinese Mainland. This is where approximately half of the HK$100 billion investment fund will be allocated – mostly over the next three to five years.
“The Chinese Mainland story is very exciting and I’m confident that the results of these investments will be game-changing,” says Blackburn.
Since Swire Properties opened their first large commercial project at Taikoo Li Sanlitun in Beijing in 2008, closely followed by Taikoo Hui in Guangzhou, there are now six major completed projects on the Chinese Mainland with more on the way.
“The Taikoo Li and Taikoo Hui brands have established themselves in each of their cities as the leading commercial landmark and they’re very widely recognised as best in class,” says Blackburn.
He admits that the challenge is often how to say “no” to opportunities that aren’t quite the right fit. The company is determined to remain focused on retail-led, mixed-use opportunities in prime locations within established tier one cities, as well as special locations within selected emerging tier one cities.
The Greater Bay Area (GBA) is a particular priority. Last year, the company announced plans to invest in its second project in Guangzhou, in Julong Bay, an attractive riverfront location opposite the site of an old Taikoo warehouse. The company is also determined to find the right location to invest in Shenzhen.
“We want to emerge as a real industry leader in the GBA over the next decade,” says Blackburn.
Success built on trust
Blackburn notes that the company’s continued success is built on a firm foundation of trust.
“What’s apparent to me on the Chinese Mainland is the strength of the government relationships at street, district and city levels which have enabled us to have joined-up conversations about what the city is looking to achieve, and high quality urban regeneration is often at the top of the list,” says Blackburn.
That trust is reflected in the new Taikoo Li Xi’an project located in the Small Wild Goose Pagoda historical and cultural zone in Beilin District, Xi’an, within a UNESCO world heritage site. Swire Properties will collaborate with Xi’an Cheng Huan Cultural Investment and Development Co., Ltd., a state-owned entity, to develop a major urban regeneration plan for the 120,000 square-metre, culturally sensitive site. This exciting project was announced shortly after Swire Properties secured the Jing’an Municipal Government’s support in Shanghai to participate in the comprehensive regeneration of the Zhangyuan shikumen heritage area.
Swire Properties has been able to demonstrate to the government that it has a proven track record of curating and managing cultural and heritage spaces to create something that is consistent with what they want their cities to represent and what their cities aspire to.
“Taikoo Li Sanlitun is a great example – what we’ve created there is the trendiest, coolest, and most fashionable hang-out in Beijing,” says Blackburn who also points to the Sino-Ocean Taikoo Li Chengdu project.
“It’s extraordinary how the city and particularly young people there see the project as their own place – it’s become part of the urban streetscape,” he says.Hong Kong at the heart
Despite these impressive projects on the Chinese Mainland, Blackburn is keen to emphasise that Swire Properties continues to be committed to Hong Kong, which represents some 80% of the company’s assets. Some 30% of the HK$100 billion investment is earmarked for specific Hong Kong projects.
“I am excited to see what happens over the next ten years, with Hong Kong’s further integration into the GBA and the key role that Hong Kong is going to play in that story,” he says.
Taikoo Place in Quarry Bay is ever-evolving and is now being referred to by commentators as a global business district. Two Taikoo Place, due for completion later this year, is described by Blackburn as “the most advanced office building we’ve ever built in Hong Kong.”
“We’ve got very clear plans for the ongoing development of Taikoo Place, not just of the office towers, but also the public realm, the streetscape and the retail. In terms of employee wellbeing, it’s incredibly well-positioned for where our tenants are looking, post-COVID-19,” he says.
And Blackburn also highlights exciting opportunities to expand Pacific Place over the coming years. “We believe that Pacific Place, with the shifting of urban gravity towards Admiralty, will be the new Central,” he says, pointing to MTR’s new Shatin to Central Link which he believes will make Admiralty the most important MTR station in Hong Kong.
Blackburn remains defiantly optimistic about the future of the city. “Hong Kong has proven itself to be incredibly resilient. We fundamentally believe that Hong Kong will continue to play an important role as an international financial centre, and that its best days are ahead of us – we want to be part of this next exciting phase,” he says.Regional expansion
Outside China, Swire Properties has identified four Southeast Asian cities where the company plans to establish what Blackburn calls a “meaningful position” – Singapore, Bangkok, Jakarta and Ho Chi Minh City.
“The trend in Southeast Asia is similar to that on the Chinese Mainland and we want to capture the needs of the emerging middle class who are looking for a better quality of life and, in this case, that’s residential, but in time that may also extend to retail and office,” he says.
“It’s a new story for us, but the brand is well recognised, it’s respected and I think as long as we’re careful and selective, we will be very satisfied with what we’ve achieved when we look back in ten years’ time.”
Fifty-year legacy
The unique ethos which started in 1972 in Taikoo Shing is as vibrant as ever and the long-term approach to originality, sustainability, partnerships and to building communities is at the heart of the five-decade success story.
“We’re all very proud of the products we’ve created and of our positive contribution to the built environment – but what I’m most proud about, and this may sound obvious, is our talented team,” says Blackburn.
People being a constant source of originality is a 50th anniversary theme echoed by Chairman, Guy Bradley:
“The legacy of the last fifty years is far more than stunning commercial offices, award-winning retail malls and outstanding homes, it’s about the vibrant communities which have been created by our people – this has required not just their originality, but their commitment and professionalism, sometimes in the most challenging of circumstances,” he says.
“In our 50th anniversary year, I couldn’t be prouder of that, and I think we all share that sentiment.” 
