Swire Properties H1 2026 Revenue Up 8% to HK$9.414 Billion, Recurring Profit Up 36%

Swire Properties achieved revenue of HK$9.414 billion in the first half of 2026, an increase of 8% year-on-year. Recurring profit attributable to shareholders reached approximately HK$4.661 billion, up 36% from the same period in 2025. As the core business segment, property investment income amounted to HK$6.693 billion, up 1.8% year-on-year. Within this, retail property rental income was HK$3.768 billion, up approximately 3.2%, while office rental income stood at HK$2.638 billion and residential rental income at HK$219 million, both broadly flat compared with 2025.

The mainland business stood out in the retail property segment, with total rental income of HK$2.572 billion in the first half, up 13% year-on-year. Swire Properties disclosed that retail sales at its mainland malls rose across the board in H1 2026, with attributable retail sales (excluding sales from automobile retailers) up 23% year-on-year. The mainland property portfolio's contribution to total rental income increased to 46% from 43% at the end of 2025.

By project, Shanghai HKRI Taikoo Hui saw a significant rise in footfall following the opening of Louis Vuitton's 'Louis' flagship store in June 2025, with the brand mix continuing to shift toward luxury, driving full-year 2025 sales up 50%. In H1 2026, the project added a Rolex flagship store, pushing retail sales growth to 82.2% and total rental income up 29%, the highest among all projects. Shanghai Qiantan Taikoo Li and Chengdu Taikoo Li each recorded 14% sales growth, with rental income up 16% and 14% respectively, and occupancy rates maintained at 98%. Guangzhou Taikoo Hui, a leading luxury project in South China, saw retail sales and rental income rise 9% and 11% respectively.

In Hong Kong, Swire Properties also recorded growth in retail property rental income. The mainland retail market showed signs of improvement in 2026, with the overall retail sector in a steady recovery phase, and categories such as gold jewellery, watches and luxury goods performing well.