Review of Operations Residential Taikoo Shing Car Parking Spaces The completed residential portfolio comprises Pacific Since November 2020, the Group has offered 2,530 car Place Apartments at Pacific Place, EAST Residences in parking spaces in the Taikoo Shing residential Quarry Bay, STAR STUDIOS in Wan Chai and a number of development in Hong Kong for sale. 2,528 of these car luxury houses on Hong Kong Island and Lantau Island, parking spaces had been sold at 2nd August 2024. Sales with an aggregate GFA of approximately 0.6 million of 2,523 car parking spaces had been recognised at square feet. The residential portfolio was approximately 30th June 2024, 377 of them in the first half of 2024. 76% let at 30th June 2024. Increase in demand for our Sales of 5 car parking spaces are expected to be residential investment properties was predominantly recognised in the second half of 2024. driven by residents coming from the Chinese Mainland and overseas. One Island East, 18 Westlands Road In November 2023, the Group entered into agreements Investment Properties Under Development for the sale of twelve office floors (42nd to 54th floors Wah Ha Factory Building, 8 Shipyard Lane and excluding the 49th floor) at One Island East in Quarry Bay Zung Fu Industrial Building, 1067 King’s Road to the Securities and Futures Commission (“SFC”). The In 2018, the Group submitted compulsory sale completion of the sale of the nine floors (45th to 54th applications in respect of these two sites in Quarry Bay. floors excluding the 49th floor) currently occupied by SFC The Group obtained full ownership of Zung Fu Industrial took effect in December 2023. The completion for the Building and Wah Ha Factory Building in March 2022 and 43rd floor will take place not earlier than 31st December July 2023, respectively. The two sites are intended to be 2025 and not later than 31st December 2026 while the redeveloped for office and other commercial uses with an completion for the 44th floor will take place not earlier aggregate GFA of approximately 779,000 square feet. than 31st December 2026 and not later than 31st December 2027, and the completion for the 42nd floor Others will take place not earlier than 31st December 2027 and not later than 31st December 2028. The total GFA of the 9-39 Hoi Wan Street and 33-41 Tong Chong Street twelve floors is approximately 300,000 square feet. In June 2022, the Group submitted a compulsory sale application in respect of this site in Quarry Bay. The gross site area is approximately 20,060 square feet. Proceeding with the development (the planning of which is being reviewed) is subject to the Group having successfully bid in the compulsory sale. 28 Swire Properties Limited Interim Report 2024