One Island East tops out with 500,000 sq ft Pre-Let | Press Release

05 Nov 2007

One Island East tops out with 500,000 sq ft Pre-Let

Swire Properties' latest Grade-A office project, One Island East, was topped out today (Monday, 5th November 2007).

Located at the centre of the business district from which it draws its name, the 70-storey 1.5 million sq ft office development, is due to be completed next March. Over 500,000 sq ft of space has already been pre-leased by major companies with a further 200,000 sq ft under active negotiations. The first premises will be handed over to tenants on 1st April 2008.

The development is a landmark achievement in the fast expanding Swire Island East portfolio, with most office floors commanding 360 degree panoramic views and 94% efficiencies while rich wood and stone finishes suffuse the lobby areas, complementing the unique lift door designs composed of crafted structural glass which are the first to be seen in the territory. The toilet design and fittings reflect 5-star hotel standards.

"One Island East represents a lifetime of experience in planning and designing superior office developments," commented Keith Kerr, Chairman of Swire Properties. "Its offer matches the exacting needs of the most discerning corporations, embodying top-end architecture on the one hand, and best in class technical specifications on the other. One Island East's completion next quarter will be the last opportunity for the business community to acquire a presence for some years in the most advanced and best provisioned office tower on Hong Kong Island."

Officiating guests at the topping out ceremony included Keith Kerr, Chairman of Swire Properties and Thomas Ho, Chief Executive of Gammon Construction. Players from the Hong Kong Philharmonic Orchestra were also present to perform at the ceremony.

A showcase layout on the twenty-second floor of One Island East displays the actual premises to be handed over to tenants, complete with finished ceilings and floorings, lobby and washrooms.

Island East is Hong Kong's best managed commercial community a portfolio size of 8 million sq ft, enjoying an occupancy level of 99%. Over 300 multi-national corporations are currently resident in the hub whose spokes comprise: TaiKoo Place and Cityplaza. This premium business environment also enjoys comprehensive telecommunications and transportation infrastructure, integrated by an extensive overhead covered walkway system, privately owned and managed roads, two MTR stations and extensive landscaped plazas designed by world-class architects. A host of dining, shopping and entertainment facilities creates a first-class environment for business and leisure activities, centred around Hong Kong Island's largest shopping centre, Cityplaza. Island East has been developed, and is managed by Swire Properties.

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About Swire Properties

Incorporated in 1972, Swire Properties develops and manages commercial, retail and residential properties which offer exceptional and inviting environments in prime locations, with a strategy to 'hub' its investment properties at major mass transportation intersections, providing the highest level of accessibility and connectivity to its tenants and patrons. The completed portfolio in Hong Kong totals over 13 million sq ft of gross floor area, with Island East, Pacific Place and Festival Walk as its core holdings, reflecting its strength in building communities. Besides Hong Kong, the Company has a presence in China, the USA as well as the United Kingdom.

The Company is a wholly-owned subsidiary of the publicly-listed Swire Pacific Limited whose businesses are grouped under five operating divisions - property, aviation, beverages, marine services and trading & industrial.

Visit Swire Properties website at www.swireproperties.com.

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Swire Properties