Taikoo Li Xi’an Sanya In March 2022, a consortium in which the Group has a 70% In October 2022, a consortium in which the Group has a interest acquired (via a government land tender) the land 50% interest acquired (via a government land tender) the use rights in respect of land in the Small Wild Goose land use rights in respect of land in the Haitang district of Pagoda historical and cultural zone in the Beilin district of Sanya with a site area of approximately 2.1 million square Xi’an. With a site area of approximately 1.3 million square feet. The land is expected to be developed into a premium, feet, the land is expected to be developed as Taikoo Li resort-style, retail-led development including underground Xi’an, a retail-led mixed-use development comprising retail parking and other ancillary facilities. The development will and cultural facilities, a hotel, serviced residences and be Phase III of the Sanya International Duty-Free Complex. business apartments. The estimated GFA is approximately The project is expected to open in phases from late 2024. 2.4 million square feet (above ground), subject to further The development is being done in collaboration with planning. The project is expected to be completed in late China Tourism Group Duty Free Corporation Limited. 2025. The development is being done in collaboration with The chart below illustrates the expected attributable Xi’an Cheng Huan Cultural Investment and Development area of the completed property portfolio in the Co., Ltd. Chinese Mainland. ATTRIBUTABLE AREA OF COMPLETED GFA PROPERTY PORTFOLIO IN THE (000 sq. ft.) CHINESE MAINLAND 15,000 Taikoo Li Sanlitun, ‡ˆ Taikoo ui, San‰a(2) 12,000 Beiin Sanai Taikoo ui, Taikoo Li †iantan, ui Fan, 9,000 Guanou Sanai Guanou  ­G€, Beiin  ­G€ Žase T‘o, €teŒs 6,000 Beiin 3,000 Sino‚€ƒean Taikoo Li Ši’an Taikoo Li (1) „en…u 0 2023 to 2024 2025 2026 and later (1) In December 2022, the Group acquired an additional 15% interest in Sino-Ocean Taikoo Li Chengdu. The Group’s interest increased from 50% to 65% after the transaction. The attributable area represents 100% interests in the site after the completion of the acquisition of the remaining 35% interest in February 2023. (2) The development is expected to open in phases from late 2024. GFA completed at year end of 2024 has yet to be determined. Others ZHANGYUAN, Shanghai In 2021, the Group formed a joint venture management company with Shanghai Jing’an Real Estate (Group) Co., Ltd. This company, in which the Group has a 60% interest, is engaged in the revitalisation and management of the ZHANGYUAN Shikumen compound in the Jing’an district of Shanghai. When the revitalisation is completed, the compound will have a GFA (including car parking spaces) of 591,189 square feet above ground and 738,066 square feet underground. There are over 40 Shikumen blocks, with about 170 two or three-storey houses. There are connections to three metro lines and to HKRI Taikoo Hui. The first phase (the West zone) was completed and opened in November 2022. Construction and renovation at the second phase (the East zone) are in progress. The second phase is planned to be completed and opened in 2026. The Group does not have an ownership interest in the compound. SWIRE PROPERTIES ANNUAL REPORT 2022 55