SWIRE PROPERTIES ANNUAL REPORT 2023 Residential Taikoo Shing Car Parking Spaces The completed residential portfolio comprises Pacific Place Since November 2020, the Group has offered 2,530 car Apartments at Pacific Place, EAST Residences in Quarry parking spaces in the Taikoo Shing residential development Bay, STAR STUDIOS in Wan Chai and a number of luxury in Hong Kong for sale. 2,521 of these car parking spaces houses on Hong Kong Island and Lantau Island, with an had been sold at 8th March 2024. Sales of 2,146 car parking aggregate GFA of approximately 0.6 million square feet. spaces had been recognised at 31st December 2023, 694 of The residential portfolio was 78% let at 31st December them in 2023. Sales of 375 car parking spaces are expected 2023. Demand for our residential investment properties to be recognised in 2024. has been boosted by tenants arriving from the Chinese One Island East, 18 Westlands Road Mainland under various talent admission schemes and In November 2023, the Group entered into agreements from overseas by staying in Hong Kong for business after for the sale of twelve office floors (42nd to 54th floors the reopening of the border. excluding the 49th floor) at One Island East in Quarry Bay Investment Properties Under Development to SFC. The completion of the sale of the nine floors Wah Ha Factory Building, 8 Shipyard Lane and (45th to 54th floors excluding the 49th floor) currently Zung Fu Industrial Building, 1067 King’s Road occupied by SFC took effect in December 2023. The completion for the 43rd floor will take place not earlier than In 2018, the Group submitted compulsory sale applications 31st December 2025 and not later than 31st December in respect of these two sites in Quarry Bay. The Group 2026 while the completion for the 44th floor will take place obtained full ownership of Zung Fu Industrial Building and not earlier than 31st December 2026 and not later than Wah Ha Factory Building in March 2022 and July 2023, 31st December 2027, and the completion for the 42nd floor respectively. The two sites are intended to be redeveloped will take place not earlier than 31st December 2027 and for office and other commercial uses with an aggregate not later than 31st December 2028. The total GFA of the GFA of approximately 779,000 square feet. twelve floors is approximately 300,000 square feet. Others 9-39 Hoi Wan Street and 33-41 Tong Chong Street 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. 43