Review of Operations Hong Kong approximately 694,000 square feet. Superstructure EIGHT STAR STREET, Wan Chai works are in progress at the Phase 1 site, while foundation works are underway at the Phase 2 site. EIGHT STAR STREET at 8 Star Street, Wan Chai is a The development is expected to be completed residential building (with retail outlets on the lowest in 2025. two levels) of approximately 34,000 square feet. The occupation permit was obtained in May 2022. 33 out of 269 Queen’s Road East, Wan Chai 37 units had been sold at 4th August 2023. Sales of In June 2022, the Group acquired (via a government 30 units had been recognised at 30th June 2023, 3 of land tender) a plot of land at 269 Queen’s Road East them in the first half of 2023. Sales of 3 units are in Wan Chai. The plot of land will be developed expected to be recognised in the second half of 2023. primarily for residential use with an aggregate GFA of 30 units had been handed over to the purchasers at approximately 116,000 square feet. Demolition works 30th June 2023. have commenced since May 2023 and are in LA MONTAGNE, Wong Chuk Hang progress. The development is under design stage and (formerly known as Wong Chuk Hang Station expected to be completed in 2025. Package Four Property Development) Indonesia A joint venture formed by the Group, Kerry Properties In 2019, a joint venture between the Group and Limited and Sino Land Company Limited is undertaking Jakarta Setiabudi Internasional Group completed the a residential development in Wong Chuk Hang in Hong acquisition of a plot of land in South Jakarta, Kong. The development will comprise two residential Indonesia. The land is being developed for residential towers (Phases 4A and 4B) with an aggregate GFA of purposes with an aggregate GFA of approximately approximately 638,000 square feet and about 800 1,123,000 square feet. Superstructure works are in residential units. Superstructure works are in progress. progress. The development is expected to comprise Pre-sales of Phase 4A started in July 2023. 48 out of around 400 residential units to be completed in 2024. 432 units had been pre-sold at 4th August 2023. The The Group has a 50% interest in the joint venture. development is expected to be completed and handed Pre-sales are in progress. 62 units had been pre-sold over to the purchasers in 2024 and 2025 respectively. at 4th August 2023. The Group has a 25% interest in the joint venture. Chai Wan Inland Lot No. 178 Vietnam In 2021, a project company held as to 80% by the In 2020, the Group agreed with City Garden Joint Group and as to 20% by China Motor Bus Company, Stock Company to develop The River, a luxury Limited completed a land exchange with the HKSAR residential property in Ho Chi Minh City, Vietnam. Government in respect of a plot of land in Chai Wan. The development, which was completed in August The plot of land is being redeveloped into a residential 2022 comprises 525 luxury apartments in three complex (with retail outlet) with an aggregate GFA of towers. The Group has an effective 20% interest in the 38 Swire Properties Limited Interim Report 2023