Latest news with #SwireProperties
Associated Press
5 days ago
- Entertainment
- Associated Press
Dive into 'Shanghai Summer' Nights: Explore Must-Visit Global Destinations
Shanghai, China, August 8, 2025 -- As a landmark event for Shanghai's efforts to build an international consumption center, the 'Shanghai Summer' International Consumption Season is dedicated to creating a world-class summer urban consumption event. From the first weekend of July to the second weekend of October each year, Shanghai extends a global invitation, pooling citywide resources to offer international visitors a diverse, immersive, and delightful consumption journey. Recently, the 'Shanghai by Night'campaign was officially launched, injecting fresh momentum into the upcoming 2025 Shanghai Summer. As part of this launch, Shanghai unveiled five iconic 'Night Economy Landmarks' and five top 'Nightlife Destinations,' providing visitors with an immersive guide to experiencing the city's vibrant nocturnal offerings. Shanghai continues to lead the nation in the development of its night-time economy. According to recent data, in 2024 the city recorded 4.03 million night-time trips and a total night-time consumption of RMB 88.009 billion, marking a year-on-year increase of 3.3%. Shanghai now ranks first nationwide in its Night-Time Economy Composite Index, showcasing the extraordinary appeal of an international consumption center city. 'Shanghai Summer'Global Ambassadors Jayson and Marianna. Photo courtesy of @jaysonrobertson / @spicyramona via Instagram. Five Iconic International Landmarks Illuminate the Magic of Shanghai Nights Five Nightlife Hotspots That Never Sleep Policy Support Enhances a Global-Friendly Nighttime Experience Shanghai has introduced 10 upgraded measures to enhance the city's night-time environment and make it more welcoming for global visitors. These include: Expanding public zones for evening activities and adding temporary outdoor dining areas during major holidays, creating vibrant urban landscapes. Increasing designated street performance areas and streamlining permits to support small-scale live shows. Encouraging malls and parks to host 'second-venue' live broadcasts of sports events, igniting community excitement for collective night-time viewing. Supporting the launch of customized night tour buses that connect key landmarks. Increasing temporary night-time parking spaces and introducing time-based free parking zones. Public–Private Collaboration to Shape a World-Class Nightlife Ecosystem In a pioneering move, Shanghai has appointed its first group of 'Chief Night Economy Officers' and 'Chief Nightlife Destination Officers,' with commercial leaders from Swire Properties (HKRI Taikoo Hui), Shui On Xintiandi, Lujiazui Group, and others taking the lead. These executives are tasked with coordinating the planning of night-time events, driving business innovation, enhancing service quality, and promoting international exchange. This summer, Shanghai Summer joins hands with the city's radiant nightscape to extend an open invitation to the world. Here, heritage meets modernity, local flavor blends with global flair—Shanghai is delivering a world-class night-time experience to warmly welcome every international guest. Contact Info: Name: Marsha Email: Send Email Organization: Shanghai Design Week Investment Management Co. Ltd Website: Release ID: 89166743 If you encounter any issues, discrepancies, or concerns regarding the content provided in this press release, or if there is a need for a press release takedown, we urge you to notify us without delay at [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our expert team will be available to promptly respond within 8 hours – ensuring swift resolution of identified issues or offering guidance on removal procedures. Delivering accurate and reliable information is fundamental to our mission.
South China Morning Post
20-07-2025
- Business
- South China Morning Post
Swire to lease more Zhangyuan retail space after record 18-building move with robots
Swire Properties and its partner in mainland China are preparing to lease the second phase of their retail venture in Shanghai, after shifting 18 buildings on the Zhangyuan site sideways with robots to make way for the construction of a multi-level underground mall. Advertisement The joint venture aimed to release the space in stages from next year, according to Holly Zhang Yuanfu, deputy general manager of Shanghai Jing'an Urban Regeneration Construction Development, the owner of the site. The first phase of the project was completed in late 2022. 'The underground work began after the little robots completed their relocation tasks,' Zhang said. 'Combining the progress of underground construction, the robots will then protectively relocate the buildings back to their original positions.' 'Our goal is to carry out renovation and upgrades while fully preserving the historical buildings,' she added, likening the effort to moving 'fragile grandpas and grannies' that required extreme precision and caution. 'Our goal is revitalisation. Demolition was never an option.' 01:45 Hundreds of robots move an entire city block in China Hundreds of robots move an entire city block in China The property owner shifted 7,500 tonnes of 18 buildings from the site by 10 metres a day using 432 company-built crawler robots. In total, it would be shifting 40 buildings in the relocation effort. It represented the heaviest lateral move in the world over the past decade. The record was an 18,000-tonne structure in Baku, Azerbaijan, in April 2013, according to the Guinness World Records Advertisement In mainland China, the heaviest move – as opposed to taking a building apart and then reassembling it – was the 15,140-tonne Fu Gang Building in Guangxi province, which moved 35 metres sideways in 2004.
Miami Herald
30-06-2025
- Business
- Miami Herald
Brickell City Centre's retail has a new owner. Here are 5 takeaways
Brickell City Centre's mall, a key part of Miami's upscale Brickell neighborhood, has been sold to Simon Property Group. The sale, reportedly between $512 million and $548 million, does not currently suggest any major changes for shoppers. FULL STORY: Mall giant bets big on Brickell City Centre, spending half-billion on retail complex Here are the highlights: ▪ Swire Properties, the original developer, sold the mall and its parking garage to Simon Property Group. Simon is known for investing in retail complexes nationwide. ▪ The mall, opened in 2016, spans 500,000 square feet with over 90 businesses, including high-end retailers like Saks Fifth Avenue and Apple. It has been central to Brickell's transformation into a luxury destination. ▪ Simon previously owned a 25% stake in the mall before acquiring full ownership. The company is expanding in South Florida, recently purchasing other retail properties in the region. ▪ Despite trends suggesting the decline of American malls, Simon continues to invest in retail complexes. The company emphasizes its properties as community hubs generating significant sales. ▪ Swire Properties plans to use the proceeds from the sale to finance other development projects in Miami. This includes luxury towers under construction on Brickell Key. The summary points above were compiled with the help of AI tools and edited by journalists in the Miami Herald newsroom. The full story in the link at top was reported, written and edited entirely by Miami Herald journalists.
Yahoo
27-06-2025
- Business
- Yahoo
Swire sells majority stake in Brickell City Centre retail to Simon for $512M
Swire Properties cashed out of the retail and parking components of Brickell City Centre in a $512 million deal with Simon Property Group. Simon, an Indianapolis-based shopping center-focused real estate firm led by David Simon, bought Swire's majority 75 percent stake in the 500,000-square-foot open-air center anchored by Saks Fifth Avenue, according to a Hong Kong stock exchange filing. Hong Kong-based Swire, led by Henry Bott, also sold Brickell City Centre's underground parking garages to Simon as part of the deal. Previously, Simon owned a 25 percent interest in the shopping center's ownership entity since 2015. The four-level retail component was completed a year later, a press release states. In addition to Saks, Brickell City Centre has 90 retail tenants including Apple, Coach, lululemon, Sephora and Zara. The center also features 15 dining and entertainment venues including Puttshack and a CMX movie theater. Profits from the sale, the entire $512 million, will be applied to Swire's funding and capital obligations for the firm's U.S. projects, the filings state. Those developments include the planned Brickell Key luxury condominium, called The Residences at Mandarin Oriental, Miami, a Swire spokesperson said in a statement. The two-tower project has reached $1 billion in contract sales and has sold more than 50 percent of one of the planned buildings, the spokesperson added. Developed by Swire, Brickell City Centre is a 5.4 million-square-foot mixed use project. In 2020, Swire sold the development's two office towers for $163 million to Northwood Investors. A year later, funds tied to Trinity Fund Advisors and Certares Real Estate Management bought the 352-room East Hotel at Brickell City Centre from Swire. The joint venture paid $174 million for it. Brickell City Centre also includes Reach and Rise, a pair of 43-story condominiums. In May, Swire sold a nearby site where the firm scuttled a supertall office project. Miami-based Melo Group paid more than $200 million for the 2.8-acre property. Meanwhile, Simon has been expanding its ownership of big box spaces at regional malls that the firm owns in South Florida. This month, Simon paid $23 million for a shuttered Sears store at Town Center at Boca Raton in Palm Beach County, and dropped $15.6 million for a JCPenney ground lease at Dadeland Mall in Miami-Dade County's Kendall. This article originally appeared on The Real Deal. Click here to read the full story. Sign in to access your portfolio
Miami Herald
27-06-2025
- Business
- Miami Herald
Mall giant bets big on Brickell City Centre, spending half-billion on retail complex
Brickell City Centre's mall, home to the luxury stores and fine dining restaurants that have built upon the neighborhood's upscale identity, has been sold to a new owner. Swire Properties, the firm that developed Brickell City Centre, sold the mall and the parking garage under it to Simon Property Group, a company known for investing in retail complexes across the country. Business publications said that Simon paid upward of $500 million, with Bloomberg reporting a $512 million purchase price and Reuters citing a price tag of up to $548 million. For now, there's no indication that the sale will result in any major changes for shoppers. Since its completion in 2016, when rapper Pitbull cut the ribbon at Brickell City Centre's opening, the mixed-use complex has been a cornerstone of Brickell's rapid transformation. In total, the mall's four floors make up about 500,000 square feet of retail space rented out to over 90 businesses. The open-air shopping center is home to the likes of Saks Fifth Avenue, Sephora, Apple and Lululemon, among other various other stores, restaurants and entertainment venues. Simon owns shopping malls across the country and previously owned a 25% stake in Brickell City Centre's retail side before acquiring the rest, along with the complex's parking garages. The shopping-focused real estate firm has recently been expanding in South Florida. Just this month, Simon bought a closed Sears outlet in Palm Beach County and a JCPenney inside Kendall's Dadeland Mall. While many have already declared the death of the American mall, Simon appears to be investing all the more heavily into retail complexes. In a statement concerning the Brickell City Centre sale Friday, the company said its properties 'provide community gathering places for millions of people every day and generate billions in annual sales.' Swire, a Hong Kong-based developer with a headquarters in Miami, has several other investments in the area, including two luxury towers under construction on Brickell Key. Swire indicated that proceeds from the mall's sale would go toward the financing of other development projects.
