The Creative Transformation of Taikoo Hui Guangzhou
The Creative Transformation of Taikoo Hui Guangzhou PLACES IMPACT REPORT March 2023
In 2020 and 2021 Swire Properties released two Places Impact Reports, titled “The Creative Transformation of Island East and Development of Taikoo Place” and “The Creative Transformation of Taikoo Li Sanlitun” respectively. Quarry Bay, in Hong Kong Island’s Eastern District, was the original area where Swire Group began our placemaking journey over 130 years ago, and Taikoo Li in Sanlitun in Beijing was Swire Properties’ 昀椀rst completed development in the Chinese Mainland. These two reports are important pieces of research for us as we set out to deepen our understanding of what makes a great place and to evaluate how we can measure the impact of our places. We wanted to continue our exploration of the four dimensions of place - Vibrancy, Livelihood, Wellbeing, and Resilience - to determine if they can be applied in multiple di昀昀erent contexts. As a result, we embarked upon our third place impact study focussing on Taikoo Hui Guangzhou.
Understanding Place Impact While Taikoo Place is a large, o昀케ce-led, mixed-use development Through this research, we have learned that the placemaking in Hong Kong and Taikoo Li Sanlitun is a retail-led, outdoor, lane- qualities that stand out at Taikoo Hui Guangzhou include its driven concept in Beijing, Taikoo Hui Guangzhou is a di昀昀erent type physical connectivity, timeless design and appealing spatial scale of mixed-use development within Swire Properties’ investment both inside the mall and outside on the popular roof-top garden. property portfolio. The large cluster and variety of international brands and luxury 昀氀agship stores drive footfall and create an energy that also makes it For our third report, we decided to analyse the place qualities of special. Creative placekeeping activities, such as cultural events and our “Hui” (meaning “meeting” or “gathering”) brand, with Taikoo exciting pop-up experiences, also contribute to the place’s interest Hui Guangzhou, a largely indoor, transport oriented, mixed-use and impact. Importantly, close coordination with local street o昀케ce, development. These mixed-use developments are large scale, and District and City Government and ongoing engagement with the typically include a retail mall, o昀케ce buildings, hotels and quality surrounding community supports the sustainable development public open space. and resilience of the wider Tianhe Road Commercial Zone. Would the four dimensions of place still apply? And if so, in The research also highlighted several opportunities for what ways might the criteria di昀昀er within varying mixed-use improvement. Connectivity is critically important, and we learned developments and geographical contexts? that improved signage would potentially facilitate movement and Similar to what we learned in the 昀椀rst two reports, Taikoo Hui interaction throughout the development. Online engagement has Guangzhou’s impact on the community and the city itself stems also risen in importance in recent years, and Taikoo Hui Guangzhou from a combination of thoughtful placemaking and e昀昀ective has an opportunity to increase digital engagement with tenants placekeeping over the long term. and visitors via its social channels to increase the overall impact of the place. Scale is important when it comes to place impact, and Taikoo Hui All in all, through three comprehensive place impact studies, we Guangzhou is at a scale that catalyses creative transformation have learned that the four dimensions of place apply universally of the surrounding community and the wider area. Taikoo Hui to large-scale, mixed-use developments despite their di昀昀ering Guangzhou’s mixed-use development characteristics, such as the characteristics. Going forward, we intend to apply these learnings carefully curated retail shops, o昀케ce buildings, luxury hotel and to our new and existing developments. To do this e昀昀ectively, we the integrated public transportation hub all play an important intend to institutionalise the places impact framework within our role. These elements, when combined together, add up to be teams, so that it is integrated across the business through our greater than the sum of their individual parts, increasing physical management practices. interactions and facilitating human connections within the development itself or via online channels. Swire Properties 1
“What makes “How do we a great place?” use placemaking and long-term This seemingly simple question served as the placekeeping to bring inspiration for our three places impact studies, out the best in a and has given rise to many more questions: place?” Our purpose is to create and nurture high-quality places that translate to vibrant and sustainable communities in the long term. In practice, this involves e昀昀ective placemaking and placekeeping, enabling us to transform places while retaining their character. We call this process Creative Transformation. “How can we catalyse and support the sustainable development of the “What Commercial Center in Tianhe attributes are District and at the same time necessary to deepen look after the needs of a community’s the community?” connection to a place?” 2 The Creative Transformation of Taikoo Hui Guangzhou
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4 The Creative Transformation of Taikoo Hui Guangzhou
Measuring the Impact of our Places Places are multi-dimensional and there are many overlapping themes and attributes, some of which are tangible – such as the number of visitors, or established businesses, and availability of open space and public seating – and others that are more intangible, such as the quality of the public realm, or the “buzz” felt in a dynamic social and commercial environment. When we began our formal in-depth places impact analyses in 2020, we referred to leading research and international best practices to develop a “Places Impact Framework”. As measuring any kind of “impact” requires a comparison of one METHODOLOGY situation to another, this report assesses changes over time and uses compared to other commercial complexes. This study applies Swire Properties’ four dimensions of place, namely Vibrancy, Livelihood, Wellbeing and Resilience, to the To conduct this assessment in a credible way, we were fortunate entire study area and identi昀椀es indicators and measurements to work with the South China University of Technology. The that explore the tangible and intangible aspects of how a place team there has expertise in assessing urban environments and is used and experienced. The data and observations obtained measuring spatial impacts and also has a good understanding of for this research were used to develop a wide range of indicators Taikoo Hui Guangzhou and the surrounding area. to measure place impact and the research was strengthened by cooperation among multiple stakeholders. Swire Properties 5
A Places Impact Framework Swire Properties’ “Places Impact Framework” Investment Level takes our Sustainable Development (SD) Refers to the area owned and managed by Swire Properties, 2030 Strategy to the next level by helping us including “hardware” and “software”. to understand and measure the impact of our ongoing investments in SD. Designed to Place Level help us understand impact for di昀昀erent types Refers to the surrounding area, including Taikoo Hui Guangzhou and varying scales of places, the framework and the surrounding community. Provides an analysis of the impact separates the scope of our study into three of Taikoo Hui Guangzhou on the community from economic, social levels: and environmental perspectives. Area Level Broadening our horizons to understand the impact of placemaking on the wider region, such as the Commercial Center of Tianhe District. 6 The Creative Transformation of Taikoo Hui Guangzhou
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Investment in Taikoo Hui Guangzhou Before 1990, Tianhe Road Commercial Zone, where the Taikoo Hui Guangzhou plot is located, had only sporadic small-scale commercial areas and supporting businesses for the existing residential areas. Swire Properties began st to negotiate and cooperate In the early 21 century, Swire Properties, which had been deeply with the land owner involved in the Hong Kong real estate industry for many years, set Guangzhou Daily Press Group its sights on China’s booming economy, and Guangzhou became to develop the Taikoo Hui the logical starting point for real estate investment in the Chinese Guangzhou project. Mainland. Taikoo Hui Guangzhou supports high-quality real estate developments in the surrounding areas and the well-planned optimisation of urban environments. Since its opening, Taikoo Hui Guangzhou has continued to innovate and push the boundaries of commercial placemaking and placekeeping, creating new spaces and programmes for its community, tenants and multiple other users of the place. 8 The Creative Transformation of Taikoo Hui Guangzhou
2006 Subway line 3 Shipaiqiao 2010 station opened; Shipaiqiao’s station entrance D connects Guangzhou’s 昀椀rst Bus Rapid directly to the Taikoo Hui Transit system (BRT) was 2012 Guangzhou shopping mall. completed and is connected to Taikoo Hui Guangzhou via Taikoo Hui Guangzhou’s an underpass. o昀케ce towers were completed. 2007 Taikoo Hui Guangzhou project 2011 began construction. Taikoo Hui Guangzhou o昀케cially opened. The occupancy rate for the 180+ shops at opening was 100%, 70% of which were international famous brands, and about 70 brands entering Guangzhou for the 昀椀rst time. Hardware Software Swire Properties 9
2013 2016 2018 Mandarin Oriental, In 2016, in celebration of Two new member centres were Guangzhou o昀케cially its 昀椀fth anniversary, Taikoo completed in 2018 and 2022 opened, and the whole Hui Guangzhou launched respectively, providing members with Taikoo Hui Guangzhou its “Social Tag Membership high-quality o昀툀ine experiences and development was Programme” to provide more services in an exclusive space. o昀케cially unveiled. accurate and customised greetings to its members. Hardware 2014 2016 2019 Software After three years of market Since 2016, our shopping mall Taikoo Hui Guangzhou cultivation, Taikoo Hui restroom have been renovated to launched the “Art Revival in Guangzhou adapted to new reduce water consumption and Life” Programme, continuously trends and evolved its optimise eco-e昀케ciency. introducing artworks from tenant mix. internationally renowned artists, with a commitment to creating an art and humanistic space for all citizens in the city. 10 The Creative Transformation of Taikoo Hui Guangzhou
2021 Since July 2021, Taikoo Hui 2020 Guangzhou has been fully using renewable energy, becoming one In 2020, Taikoo Hui of the 昀椀rst real estate developers Guangzhou launched its in Guangdong Province to 2022 exclusive o昀케ce building achieve “net zero carbon” annual service mini programme electricity consumption for Since Taikoo Hui Guangzhou “TaikooHub”. The owners and tenants. launched the “Community programme provides a Ambassador Programme” in channel connecting o昀케ce 2013, by December 2022, 69 buildings and shopping malls, public welfare activities have individuals and enterprises, been held, attracting 1,818 tenants and owners. people and contributing nearly 4,500 volunteer hours. 2020 2021 Taikoo Hui Guangzhou In 2021, Taikoo Hui Guangzhou launched the completed the relocation TKH ONLINE POP-UP STORE, opening a new and renovation of exploration in online retail through a limited- 60 stores during the time pop-up gradually becoming a bridge of COVID-19 pandemic. communication between the brand and young people. Swire Properties 11
The Four Dimensions of Place When placemaking and placekeeping are done well, businesses and communities thrive. That is to say, these two actions bring socio-economic bene昀椀ts that feed into the surrounding areas and improve the lives of residents, workers and visitors. The Places pillar in Swire Properties’ SD 2030 Strategy considers the four dimensions of place – Vibrancy, Livelihood, Wellbeing, and Resilience. These four dimensions come together to combine and interact, ultimately contributing to successful placemaking and placekeeping. Vibrancy Livelihood Taikoo Hui Guangzhou creates a walkable Taikoo Hui Guangzhou supports the public environment and provides an ideal convergence of featured business and gathering place and public event space entertainment activities and directly open to all. This, in combination with contributes to the planning of the regularly held high-quality activities, works Commercial Center of Tianhe District, together to create a vibrant place. positioning Taikoo Hui Guangzhou as a new landmark of the city to attract international tourists and support sustainable economic development. 12 The Creative Transformation of Taikoo Hui Guangzhou
The four dimensions of place support Swire Properties’ SD 2030 Strategy – a comprehensive approach to managing its environmental, social and governance (ESG) performance. The strategy sets out a number of ambitious targets for the Company’s global portfolio, including its science-based decarbonisation target. As a property developer, we recognise that the ultimate impact we have on society can be found in our Places. That is why “Places” sits at the heart of our SD 2030 Strategy. Wellbeing Resilience Taikoo Hui Guangzhou’s visitors have a In urban settings, resilience refers to a high degree of satisfaction with many community’s ability to respond to both sudden saying that their sense of connection with crises and long-term stressors. Throughout the the projectcomes from the “shopping COVID-19 pandemic, Taikoo Hui Guangzhou experience” as well as the “overall spatial has shown a high level of resilience, both and visual comfort”. economically and socially. In addition, the development’s critical infrastructure remains e昀케cient and resilient to acute and chronic climate changes through regular hardware upgrades and retro昀椀ts. Swire Properties 13
Cultural Life Popular Interest W alkability Vitality 14 The Creative Transformation of Taikoo Hui Guangzhou
KEY IMPACTS Well-designed spatial layouts and excellent connectivity Ways to enhance vibrancy include: can stimulate community interaction and bring high tra昀케c, thus enhancing the vibrancy of the community. Taikoo Hui • Human-oriented spatial layout; Guangzhou makes full use of the “agglomeration e昀昀ect” of urban • Well-designed public spaces and pedestrian system; development in several ways: by making the internal and urban space unimpeded, by developing a Vertical Walking system • Continuous community engagement, such as upgrading inside, thus connecting the city in multiple dimensions. In facilities and event planning. addition, a variety of arts and cultural events are regularly held at the development throughout the year, o昀昀ering the public greater access to the arts. Vibrancy Why do some communities thrive, while others stagnate? Vibrancy explores di昀昀erent factors such as walkability, vitality, cultural life, and the popularity and in昀氀uence of the Internet age. Swire Properties 15
VIBRANCY INDICATOR 1 Walkability Walkability is an important indicator to measure the vitality of a place. Taikoo Hui Guangzhou has created a diverse and convenient walking environment, which provides users with convenience and creates a vibrant urban commercial centre. PUBLIC TRANSPORT CONNECTION In contrast to three other well-known commercial complexes, Taikoo Hui Guangzhou has the highest value in terms of the density of subway entrances and bus stations, creating a higher passenger 昀氀ow. Taikoo Hui Bus Station Metro Entrance Metro Passage Layout of public transport facilities around Taikoo Hui Guangzhou 16 The Creative Transformation of Taikoo Hui Guangzhou
“Considering the community, subway and Bus Rapid Transit The data analysis of 712 system, Taikoo Hui Guangzhou provides a pleasant indoor city visitors’ questionnaires shows street for customers and pedestrians in a humid hot and rainy that visitors have high satisfaction climate, with a large number of people entering the building with the walking environment and the from underground through a connecting corridor and going to comprehensiveness of the the building through vertical escalator connections.” signage system in Taikoo Hui Guangzhou. — Yang Yanwen, Chief architect of the Guangzhou Design Institute STREET LAYOUT DESIGN According to the “Urban Pedestrian and Bicycle transport System Planning Standards (GB/T51439-2021)” , the recommended density of the pedestrian network in a commercial dense area is 10~20km/km2. By calculation, the pedestrian network density of the Taikoo Hui Guangzhou block is 16.56km/km2. Therefore, Taikoo Hui Guangzhou has a good pedestrian network. With dedicated walking paths Schematic diagram of walking trails around Taikoo Hui Guangzhou Swire Properties 17
CONNECTIVITY At street level, Taikoo Hui Guangzhou is connected to the city streets by multiple entrances and exits, creating a highly connected multi- level walking system. In addition, Taikoo Hui Guangzhou is open to the The main users of Taikoo Hui public during non-business hours (7am-10am, 10pm-12pm), which Guangzhou during non-business not only facilitates residents from the surrounding area to take the hours are primary school students, metro, but also provides convenience for students going to school. residents, sta昀昀 and Taikoo Hui Guangzhou provides safe and comfortable routes for them food delivery workers. and becomes an important hub with high connectivity. Workday 7:30AM-10AM Workday 10PM-12PM 工作日 Workday 7：30am-10：00am 工作日 Workday 10：00pm-11：00pm W Nor W Nor L1 est Gate South Gate th Gate East Gate L1est Gate South Gate th Gate East Gate MU MU Middle school students(Guangzhou Middle School) Primary school students (Huakang Primary School) Takeout Deliverers Citizens M 中学生（广州中学） People working within Taikoo Hui Mall M Middle school students(Guangzhou middle school) 小学生（华康小学） Primary school students(Huakang Primary school) People working within Taikoo Hui O昀케ce Towers 外卖小哥 Exit D Exit D Takeout deliverers 普通市民 Citizens 商场工作人员 Exit BRT Exit BRT People working within Taikoo Hui Mall 写字楼工作人员 People working within Taikoo Hui The 24-hour rooftop garden at Taikoo Hui Guangzhou is connected to the city streets through escalators and staircases. Gardens and skylights are arranged to form a natural barrier to urban noise. Public seats and night lights are used to enhance the rooftop walking experience. Recreation Area Recreation Area Rest Area Rest Area Entrance Area Entrance Area Mandarin Dining Area Mandarin Dining Area 文华东方酒店 文化中心 The Cultural Center Oriental The Cultural Center Mandarin The Cultural Center Oriental Oriental Hotel Group Hotel Group Hotel Group O昀케ce O昀케ce 写字楼 O昀케ce O昀케c写字楼e Office Building Office Building Building Building Building Building 散步休闲区 Recreation Area 休息区 Rest Area Roof garden functional zoning Roof garden pedestrian connection 入口区 Entrance Area 餐饮区 Dining Area 18 The Creative Transformation of Taikoo Hui Guangzhou
VIBRANCY INDICATOR 2 Vitality Successful urban spaces are designed for people, because people are what bring vitality to a place. DEVELOPMENT INTENSITY With a plot ratio (gross 昀氀oor area/total site area) of 2.76, the Taikoo Hui Guangzhou Shopping Mall provides visitors with a leisurely and comfortable experience through a rich open atrium space, roof garden and surrounding open streets. 7.37 3.9 3.19 2.76 2.74 Guangzhou Taikoo Commercial Commercial Commercial Commercial Hui Mall Project A Project B Project C Project D Plot ratio VISITOR BEHAVIOUR The behaviour study for Taikoo Hui Guangzhou shows that the diverse functional choices provide a good leisure space for visitors. For o昀케ce sta昀昀, restaurants, supermarkets and bookstores are the hot spots during their rest periods. The study also found that the Taikoo Hui Guangzhou atrium area is a well- visited “hot spot”. The design of the atrium space and special events held there make it one of the development’s most popular places. Restaurant Restaurants 72.33% Supermarket Supermarkets 60.19% Boo kstore Bookstores 48.30% Cafe Cafes 42.72% Rooftop Garden Rooftop Garden 38.59% Clo thing Clothing and cometics sto res 29.85% and cosmetics stores Most popular places for o昀케ce employee outside working hours Swire Properties 19
VIBRANCY INDICATOR 3 Cultural Life Encouraging interaction with public art and making art more accessible to the community can help break down social barriers and strengthen social capital. The variety of cultural activities held by Taikoo Hui Guangzhou help to make the place more inclusive and are often cited as a reason why people visit the development. 25 Advertising 23 13% 19 20 21 19 21 Exhibition 17 16 35% Cultural 7 Art 4 26% Festival 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Activities 26% Number of annual major cultural activities Activities attended by visitors CULTURAL ART Since 2015, Taikoo Hui Guangzhou has held its “Canton Culture Workshop” every year. Under the guidance of “Intangible cultural heritage masters”, participants experience the beauty of local traditional culture and this programme promotes the spread of Canton culture among the younger generation. This stimulates the public’s attention on the protection and inheritance of traditional culture. 2015 The art of southern Guangdong opera 2015 Cantonese classic songs 2016 Cantonese storytelling 2017 “Rattan weaving” and “coloured tying” 2018 Traditional 昀氀at rice noodle 2020 Traditional palace lantern 20 The Creative Transformation of Taikoo Hui Guangzhou
“Since its opening in 2011, Taikoo Hui Guangzhou has continued to make long-term investments in the 昀椀eld of arts and culture, using public spaces in the Mall to enhance the visitor experience.” — Jessica Huang, General Manager of Taikoo Hui Guangzhou Since 2011, Taikoo Hui Guangzhou has held over 400 events, with an average of 10 events per quarter. Despite the pandemic, from 2020 to 2021, the number of cultural events held by EXHIBITION Taikoo Hui Guangzhou remained Taikoo Hui Guangzhou continues to hold various exhibitions stable. every year and reshapes the public space of the Mall into unique exhibition areas, so that people from all over the world can experience the ambience of various exhibitions and city characteristics. 2020 Animal protection exhibition 2021 Public art installation ‘Please Be Seated’ 2022 Gundam themed exhibition FESTIVAL ACTIVITIES The festival activities held at Taikoo Hui Guangzhou aim to inherit the culture of traditional Chinese crafts and combine creative expressions to convey the wishes of the Chinese New Year to visitors. 2020 Temari balls exhibition 2018 Traditional paper cutting exhibition Swire Properties 21
VIBRANCY INDICATOR 4 Online & Offline “Heat” Social media data collected A popular place can stimulate vibrancy, and the online community by “Xinbang has formed by social media becomes a platform for visitors to express numbers” is used for and communicate their thoughts. Online & o昀툀ine “heat” is the tra昀케c and content combined popularity and interest in a place that brings analysis. great vibrancy. FOOTFALL Annual footfall of Taikoo Hui Taikoo Hui Guangzhou Shopping Mall saw a steady rise in popularity from its opening in 30000000 2011 to 2020. After experiencing a decline in 25000000 visitor 昀氀ow caused by the COVID-19 pandemic 20000000 in 2020, 昀氀ow began to rebound in 2021. 15000000 10000000 5000000 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Annual footfall changes of Taikoo Hui Online publicity content that draws people to SOCIAL MEDIA DATA Taikoo Hui Guangzhou Taikoo Hui Guangzhou’s wide variety of Food exploration 70.20% activities have brought abundant online Food exploration Cre ative exhibitio n 63.13% content and formed a highly-popular online Creative exhibition Shopping media community. Half of the visitors said Shopping 38.89% Celebrities activity they had browsed Taikoo Hui Guangzhou- Celebrities activity 23.23% related content on social media and the Science and education Science an d ed ucation 20.20% browsing channels were mainly WeChat public Beauty salons accounts, Xiaohongshu and Tik Tok. Beauty salons 11.11% Online publicity contentthat draw people to Taikoo Hui 22 The Creative Transformation of Taikoo Hui Guangzhou
Fan pro昀椀le of Xiaohongshu GENDER: HASHTAGS: AGE: CONTENT: #Knowledge 1.7% >44 3% 3% Out昀椀t 35-44 Makeup 6.67% #Travel 1.52% <18 8% Travel Male 18-24 14% #Fashion 1.14% 54% Accessories 93.33% 18%13% Food Female 25-34 26% 17% #Food 1.14% 39% Childcare Others The peak of likes on Tik Tok videos for four commercial complexes (2022/3/11-6/8) Quantity 2w Taikoo hui Guangzhou 1.6w Project A 1.2w Project B 0.8w Project C 0.4w Date 3.11 4.11 4.13 5.1 5.15 5.20 5.21 6.8 Comparison of social media data of three commercial complexes (2022/3/11-6/8) SOCIAL MEDIA DATA ANALYSIS The majority of Taikoo Hui Guangzhou’s audience in Xiaohongshu are women, aged 18-44, and the posts are mostly related to clothing, travel, fashion, food, etc. From March to June, the most popular Tik Tok video themes for the business complex were festival activities, fashion and the COVID-19 pandemic. And among the top four Tik Tok videos, Taikoo Hui Guangzhou accounted for half. In addition, Taikoo Hui Guangzhou has better data performance in terms of WeChat Reading, public ratings, Tik Tok fans, Likes, the number of saves and so on. For future online activities, Taikoo Hui Guangzhou will continue to publish attractive content and increase promotion e昀昀orts to enhance visibility. Swire Properties 23
Hotel And Grade A O昀케ce Ancillary Economic Building And Facilities Value Ancillary Facilities Commercial Operation Personas Density 24 The Creative Transformation of Taikoo Hui Guangzhou
KEY IMPACTS Taikoo Hui Guangzhou has developed into a high-end • Visitors, nearby residents and workers from di昀昀erent commercial and leisure landmark in Guangzhou, supporting backgrounds have a high degree of satisfaction with Taikoo many commercial activities and entertainment events. Over Hui Guangzhou, and have their own reasons for being the past 11 years, the number of points of interest in Taikoo Hui attracted here; Guangzhou and its surrounding area has increased dramatically, • With a daily in昀氀ux of visitors, Taikoo Hui Guangzhou is both a fostering a thriving business community and supporting the business hub with shops, restaurants, hotels and o昀케ce space, economic livelihood of the overall community. as well as popular public spaces; • The 昀椀rst-entry strategy has successfully attracted new brands In昀氀uences that contribute to the prosperity and business success to enter the market and actively adapted to the changing of Taikoo Hui Guangzhou include: needs of consumers. Livelihood Livelihood explores how a community sustains itself through greater economic activity. It explores the role and function of the community, the people who visit it every day, their activities and the value they create. Swire Properties 25
LIVELIHOOD INDICATOR 1 Density Increasing activity shows that core business districts, such as Taikoo Hui Guangzhou, are playing an important role in continuing to transform their communities and the wider area around Taikoo Hui Guangzhou. HEATMAP FOR STREET LEVEL The heatmaps of Taikoo Hui Guangzhou and its surrounding communities at di昀昀erent times in two days were selected. The higher the heat value, the denser the crowd, and vice versa. By comparing the thermal values at di昀昀erent times of day and night, Taikoo Hui Guangzhou is shown to be an important gathering point of vitality in the surrounding communities. heating power lo low high high w 18:00 21:00 23:00 7:00 11:00 15:00 Heatmaps of Taikoo Hui Guangzhou and surrounding communities at di昀昀erent times during weekends (2022-6-11) Heatmaps of Taikoo Hui Guangzhou and surrounding communities at di昀昀erent times during weekdays (2022-6-13) Students at Shipaiqiao Subway Station and people at Exit A waiting for the o昀케ce building to open from 7am to 8am on weekdays 26 The Creative Transformation of Taikoo Hui Guangzhou
LIVELIHOOD INDICATOR 2 Commercial Operation Over the past 12 years while Taikoo Hui Guangzhou has been in operation it has demonstrated strong and sustained commercial activity. RENTAL PERFORMANCE FIRST ENTRY TO GUANGZHOU The rental levels of Taikoo Hui Guangzhou re昀氀ects the economic By 2021, Taikoo Hui Guangzhou had accumulated 197 昀椀rst conditions of the market. Despite the spread of COVID-19 stores in Guangzhou, some of which were those brands’ 昀椀rst across the country, rentals at Taikoo Hui Guangzhou saw steady stores in South China, and even the Chinese Mainland. growth after the pandemic, re昀氀ecting the continued popularity and vitality of the shopping mall. Change in annual rental price ( vs immediate preceding year) Number of 昀椀rst stores in Taikoo Hui 197 161 176 22% 131 145 104 112 121 9% 10% 68 73 77 6% 8% 8% 7% 3% 5% 2% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 DIVERSITY OF BUSINESS FORMS The “fashion” store category has seen the most growth since 2011, but there has also been growth in the “supermarket” and “kids” store categories, indicating that Taikoo Hui Guangzhou also supports the daily needs of the community. 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 Fashion Service, House and Home F&B Anchor Supermarket Kids Swire Properties 27
LIVELIHOOD INDICATOR 3 Economic Value The value of Taikoo Hui Guangzhou to the local economy is re昀氀ected in many aspects, such as creating employment and enhancing regional economic vitality. TAX CONTRIBUTION Since its opening in 2011, the tax revenue of Taikoo Hui Guangzhou has continued to grow, contributing to the regional economy. Despite the impact of COVID-19, the growth rate has remained positive and is gradually picking up. 253% Change in annual tax increase 74% 20% 9% 24% 20% 15% 13% 4% 26% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 EMPLOYMENT Since its opening in 2011, Taikoo Hui Guangzhou has provided a large number of jobs for surrounding communities. The total number of existing jobs reached was approximately 11,370 in 2022. About 66% of the jobs came from Taikoo Hui Guangzhou’s two Super Grade A o昀케ce buildings, 31% from the Mall and 3% from the Mandarin Oriental, Guangzhou hotel. Total number of employees 7529 The gender ratio of sta昀昀 in Taikoo Hui Guangzhou is relatively 3520 balanced, and the hotel and o昀케ce towers provide 320 corresponding jobs for people from all educational Mall Hotel backgrounds in society. 28 The Creative Transformation of Taikoo Hui Guangzhou
LIVELIHOOD INDICATOR 4 Hotel and Ancillary Facilities The 昀椀ve-star Mandarin Oriental, Guangzhou and two Super Grade A o昀케ce buildings make Taikoo Hui Guangzhou a high-quality and high-end comprehensive shopping centre that supports the local economy and livelihood of the community in many ways. REGIONS OF HOTEL’S GUESTS About 31.5% of bookings at the Mandarin Oriental, Guangzhou Heilongjiang came from high-value travellers from non-domestic markets, of which 22.6% were international travellers. Jilin Xinjiang Liaoning Gansu Neimenggu Beijing Within the Chinese Mainland demographics Guangdong province Tianjin Ningxia Hebei generates the most bookings due to the obvious popularity and Qinghai Shanxi Shandong brand recognition of the Mandarin Oriental, Guangzhou followed Shanxi Henan Jiangsu by the municipalities of Shanghai and Beijing and thereafter Tibet Anhui Shanghai Sichuan Hubei Jiangsu and Zhejiang provinces. Chongqing Zhejiang Hunan Jiangxi Guizhou Fujian 1-99 100-499 Yunnan Guangxi Guangdong Taiwan 500-999 Nansha 1000-1499 Macao Hongkong Islands 1500-4999 Over 5000 Hainan PROPORTION OF FOREIGN-INVESTED COMPANIES DISTRIBUTION OF JOBS Foreign enterprises are the main tenants of the Taikoo Hui In terms of service types, Taikoo Hui Guangzhou is home to Guangzhou o昀케ce building, accounting for about 80% of the a large number of large 昀椀nancial enterprises. At the same total. This is one of the highest ratios of foreign companies in time, the proportion of professional services companies in the Guangzhou. development’s o昀케ce buildings have increased steadily. Banking,Finance and Insurance Technology, Media and Telecom Real Estate Professional Services Trading and Manufacturing Other 2013 2014 2015 2016 2017 2018 2019 2020 2021 Proportion of professional service type Swire Properties 29
LIVELIHOOD INDICATOR 5 Personas By understanding the background information, basic impression and purpose of space users visiting Taikoo Hui Guangzhou, we can understand the characteristics of di昀昀erent groups of people. Age LOCAL VISITORS According to the data analysis of the questionnaire survey, Taikoo Hui Guangzhou has visitors of all ages – most of whom are between 18 and 29 years old. The main purpose of daily visitors to Taikoo Hui Guangzhou is According to the data analysis of the questionnaire, which to “hang out”, eat, shop for clothes and cosmetics, and shop for sampled 147 nearby residents, satisfaction exceeds 78%. Most fresh daily necessities at supermarkets. It shows that Taikoo Hui of the respondents think that Taikoo Hui Guangzhou has brought Guangzhou meets the daily use needs of these groups and has a positive in昀氀uence, and that Taikoo Hui Guangzhou is a high- become an in昀氀uential part of their daily life. quality public place with shopping, social and cultural facilities for the surrounding area. Purpose of people coming to Taikoo Hui Guangzhou every day The satisfaction of nearby residents with the design of Taikoo Hui Guangzhou and the surrounding environment Participating in Reading events 1% 5% Taking pictures 10% Strolling 5% 19% 22% Business 5%negotiations 12% Meeting with friends 8% Neutral 15% Eating Grocery shopping 19% 16% 44% Clothing & shopping cosmetics 19% 30 The Creative Transformation of Taikoo Hui Guangzhou
THE INTER-CITY VISITORS Where intercity visitors originate. Plus other cities in Guangdong Province From the data analysis of 117 intercity visitor questionnaires, it can be seen that the in昀氀uence Shenzhen of Taikoo Hui Guangzhou is present throughout the Guangdong-Hong Kong-Macao Greater Other cities Foshan Bay Area, and other cities in China. The largest in China Dongguan Other city in group of visitors, however, are from other cities Guangdong province in Guangdong Province. 61% Zhanjiang Taikoo Hui Guangzhou meets the diverse Other countries Shantou Macao Zhonshan needs of intercity visitors looking to enjoy food, Hong Kong Other cities clothing, beauty and other shopping needs, but also provides them with attractive exhibition activities and other opportunities. COMMERCIAL EMPLOYEE Commercial employee satisfaction with the working environment According to the data analysis of the questionnaire, which sampled 395 employees 52.41% of the Taikoo Hui Guangzhou Shopping mall, 24.56% 17.22% nearly half of them have worked at the Mall 3.29% 2.53% for 5-10 years; and nearly 80% of them gave positive comments on the shopping mall’s General Very working environment. BUSINESS EMPLOYEE Business employee satisfaction with the working environment According to the data analysis of the questionnaire, which sampled 682 57.33% employees from the Taikoo Hui Guangzhou 34.16% o昀케ce building, nearly half of them have worked in the building for 5-10 years; and 5.87% 2.64% more than 90% of them gave positive 0% feedback on the building’s working General Very environment . Swire Properties 31
Design for enjoyment Safety index Place satisfaction 32 The Creative Transformation of Taikoo Hui Guangzhou
KEY IMPACTS The ways to make Taikoo Hui Guangzhou a safe and healthy place include: • Taikoo Hui Guangzhou has created pedestrian walkways that • The scale of the street is pedestrian-friendly and actively support the “eyes-on-the-street” phenomenon, providing the draws visitors to spend time there. area with the highest safety score; • High-quality design is consistent throughout the complex, supporting accessibility for all visitors; Wellbeing Wellbeing re昀氀ects how people use physical spaces and how social interactions occur between people and places to satisfy social needs and to promote wellness. This section explores the following three questions: How satis昀椀ed is the community with Taikoo Hui Guangzhou? What features help visitors feel comfortable and welcome at Taikoo Hui Guangzhou? How does Taikoo Hui Guangzhou create a safe environment for the community? Swire Properties 33
WELLBEING INDICATOR 1 Safety Index Safety and security in urban environments are directly Space syntax analysis and related to the quality of public spaces and their attractiveness detailed 昀椀eld investigation provide a more scienti昀椀c to people for their daily activities. evaluation of road safety. “Street eyes” – the combination of people keeping an eye out for each other, along with cameras to survey areas – can be an e昀昀ective way to reduce street crime. The street is the most important public space for people and the most vital “organ” in high the city. The sight of each other on the high street is therefore an important factor of higher street safety. general lower Through space syntax analysis, the low low no data visibility of each street can be analysed. Visible level analysis Kernel density analysis of surveillance cameras At the same time, combined with detailed 昀椀eld investigation, the distribution and density of surveillance cameras can be further superimposed for the analysis and evaluation of street safety. According to the analysis, the overall safety of the streets around Taikoo Hui Guangzhou is high, and the overall walking environment and safety can be improved to further enhance the satisfaction of residents and visitors. Traffic higher monitoring general Public security lower monitoring no data Distribution of street surveillance cameras Road safety analysis results 34 The Creative Transformation of Taikoo Hui Guangzhou
WELLBEING INDICATOR 2 Place Satisfaction Place satisfaction can be an indicator of wellbeing, drawing a correlation between how, if people spend time in a place that they enjoy, their perceived satisfaction and happiness can potentially be improved. PUBLIC SPACE SATISFACTION Public space satisfaction Evaluation factors : 48.31% Rational layout, underground space, atrium, entrance square, roof 41.99% garden, public seating, toilet, overall atmosphere 90% of respondents were satis昀椀ed or very satis昀椀ed with 9.27% the space design of Taikoo Hui Guangzhou. 0.42% 0% General VISUAL SPACE SATISFACTION Visual space satisfaction Evaluation factors : 64.29% Architectural design, overall environmental quality, building color, ground pavement, landscaping 35.71% All experts were satis昀椀ed or very satis昀椀ed with the visual 0% 0% 0% space of Taikoo Hui Guangzhou. General MANAGEMENT SATISFACTION Management satisfaction Evaluation factors : Cleanliness, crowd control, security measures, facilities 54.01% maintenance, waste management, wireless Internet connection 23.26% 20.93% 77% of shopping mall employees are satis昀椀ed or very 1.03% 0.78% satis昀椀ed with the management and operation of Taikoo General Hui Guangzhou. Swire Properties 35
WELLBEING INDICATOR 3 Design for Enjoyment Whether the design of a place is pleasant has a big impact on the wellbeing of the community that uses the space. User-friendly design can stimulate the actual vitality of a place – which is related to the comfortable perception and rich experience of people transitting and staying in the space. SPATIAL GUIDANCE AND VISUAL RECOGNITION Subway sign guide questionnaire survey OF UNDERGROUND SPACE Haven't As for the convenience of public facilities, about 65% of nearby noticed residents chose the subway entrance. According to the data from the visitor questionnaire, 77% think Not Extremely easy that the metro sign system at Taikoo Hui Guangzhou o昀昀ers very easy good guidance. Easy VARIETY OF PUBLIC FACILITIES The surrounding residents and visitors are generally satis昀椀ed with the roof garden, but in the questionnaire, 10% of the surrounding residents and 20% of visitors don’t know about the roof garden at Taikoo Hui Guangzhou. This presents an opportunity to enhance the signage within the mall and to increase marketing of the roof garden residents and visitors. Rooftop garden satisfaction (residents) Rooftop garden satisfaction (visitors) Very Very General General 36 The Creative Transformation of Taikoo Hui Guangzhou
SPATIAL SCALE OF COMMERCIAL INNER STREET The cross-shaped inner street of Taikoo Hui Guangzhou is a space for public use, featuring an expansive area. Large and small atriums not only provide ample natural light for the inner street, but also enhance the ambience of the space, creating a high-quality public place for visitors. Public area ratio = public area/total area; The atrium dimension = atrium width/atrium height Public area hollowed out rate = atrium area/public area 35% 40% The atrium dimension: 0.58 L2 public area ratio L1 public area ratio The atrium dimension: 0.77 38% 29% L2 common area hollowing rate L1 common area hollowing rate The atrium dimension: 0.96 Atrium space satisfaction 56.04% 86% of 30.20% respondents were 13.48% satis昀椀ed or very 0.28% 0% satis昀椀ed with the atrium space. General Very Swire Properties 37
Risk Climate Management Adaptation Assessment Economic Resilience Environmental and Physical Social Resilience Resilience 38 The Creative Transformation of Taikoo Hui Guangzhou
KEY IMPACTS Continuous investment in hardware and software at Taikoo Hui Guangzhou re昀氀ects our long-term commitment to improving the place, while contributing positively to the environment and the community. Impact pathways that contribute to Taikoo Hui Guangzhou’s resilience include: • Continuous programmes and activities to deepen • Regular upgrades and enhancements to infrastructure and relationships with the surrounding communities and local hardware; authorities; • Regularly conducting climate risk assessments of Taikoo Hui • Maintaining economic resilience by employing an e昀昀ective Guangzhou to identify, analyse and manage business risks, business strategy throughout the COVID-19 pandemic; including the growing impacts of climate change. • Maintaining a diverse tenant base; Resilience How can resilience extend beyond the built environment? Community resilience explores the ability of communities to plan, adapt and recover from natural, social and economic challenges. Therefore, community resilience is not limited to physical assets, but also encompasses community and economic considerations. Swire Properties 39
RESILIENCE INDICATOR 1 Social Resilience Social resilience is a key element in creating inclusive communities. A long-term community development strategy ensures that it is integrated and part of the community in which it is located. In this regard, Taikoo Hui Guangzhou is committed to supporting the surrounding community through its community investment programmes and philanthropic activities. SOCIAL COHESION DURING THE COVID-19 PANDEMIC Case in point : “Caring Station” • Travel safety event – Peace of Mind Lunch + Peace of Mind Travel Energy Pack • Event in recognition of health workers for their contributions throughout the pandemic – Beauty Energy Pack + Citizen Appreciation Card Peace of Mind Lunch Peace of Mind Travel Energy Pack Warmth after the pandemic Regarding the satisfaction of Taikoo Hui Guangzhou Shopping Mall employees with respect to pandemic control measures, approximately 80% of Mall employees rated their satisfaction with Taikoo Hui Guangzhou’s public health measures (especially the control and prevention measures of COVID-19) and its handling mechanism for public emergencies (such as sudden closed-o昀昀 management, nucleic acid testing). Employee satisfaction with Taikoo Hui Guangzhou’s public health measures Employee satisfaction with Taikoo Hui Guangzhou’s mechanism of public emergencies 53.42% 59.49% 27.85% 23.80% 16.46% 14.68% 1.01% 1.01% 1.27% 1.01% General Very General Very 40 The Creative Transformation of Taikoo Hui Guangzhou
PROMOTE COMMUNITY DEVELOPMENT Case in point: Swire Properties’ Community Ambassador Programme The Community Ambassador programme is a sta昀昀-led initiative to respond to community needs and bene昀椀t the wider community through planning and participating in volunteer activities. Launched in 2013, the Community Ambassador programme at Taikoo Hui Guangzhou has organised more than 69 events as at December 2022, with 1,818 sta昀昀 and partners participating and contributing nearly 4,500 volunteer hours. Home Improvement for low income Renovation of the reading room at the Ambassadors help disabled members Tribute to pandemic 昀椀ghters and families in Qianjin Street, Tianhe District private Dajiang Primary School in Foshan of the community experience vegetable community workers gardening on the roof of Taikoo Hui “Green Points Rewards Programme” Target audience: o昀케ce employees How to participate: Employees can drop o昀昀 empty bottles at the “old bottle recycling machine” and use the TaikooHub o昀케ce building app to register for points, which can be redeemed for gifts. Old bottle recycling machine WeChat app for o昀케ce buildings – TaikooHub The “TaikooHub” app is an e昀케cient, collaborative, environmentally-friendly and convenient smart platform that provides a gateway for the Taikoo Hui o昀케ce community to connect to the Mall, individuals to businesses, and tenants to landlord. Functional design – six modules: The o昀케ce building Mall Activities programme promotes Notices paperless o昀케ces at Taikoo Hui Preferential Bene昀椀ts Guangzhou, caters to the social and Employee Management corporate vision of environmental Site Search protection, energy conservation and Form Processing sustainable development, and is in line with Swire Properties’ Sustainable Development (SD) 2030 Strategy. Swire Properties 41
RESILIENCE INDICATOR 2 Economic Resilience Taikoo Hui Guangzhou’s strong 昀椀nancial performance makes it a desirable location for many brands and especially new brands entering the Guangzhou and the South China market. Taikoo Hui Guangzhou has shown remarkable economic resilience in the face of the pandemic. YEAR-ON-YEAR RETAIL SALES Since its opening, Taikoo Hui Guangzhou has steadily established itself as a renowned retail landmark, as 36% 33% evidenced by the consistent growth in retail sales. 25% 27% 16% 20% During the height of the COVID-19 pandemic, retail 11% 10% 11% sales at Taikoo Hui Guangzhou bucked the trend and surged 36% in 2020, the largest increase since 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 its opening over a decade ago. It also maintained a Annual retail sales Year-on-year sales growth rate positive growth rate of 33% in 2021. Percentage change in commercial retail sales at Taikoo Hui Guangzhou, 2011 to 2021 ECONOMIC RECOVERY DURING COVID-19 Before the pandemic, the occupancy rate at the 100% Mandarin Oriental, Guangzhou had been on the rise 80% year-on-year since the hotel’s opening. In 2020, due 60% to the pandemic, the hotel occupancy rate decreased, 40% but the lowest occupancy rate still exceeded 50%, and 20% quickly recovered to 60.8% in 2021. Further increases in 0% demand are expected in the future. 2013 2014 2015 2016 2017 2018 2019 2020 2021 Changes in hotel occupancy 42 The Creative Transformation of Taikoo Hui Guangzhou
RESILIENCE INDICATOR 3 Risk Management Swire Properties has established a risk management structure that provides oversight on key risk management areas, including information disclosure, risk identi昀椀cation and analysis, and crisis response. ENTERPRISE RISK MANAGEMENT (“ERM”) SYSTEM Swire Properties has an enterprise risk management (“ERM”) system with a clear organisational structure in place. The Board of Directors and the Company’s senior management are responsible for identifying and analysing the risks underlying the achievement of business objectives, and for determining how such risks should be managed and mitigated. TCFD-ALIGNED CLIMATE-RELATED FINANCIAL DISCLOSURES In accordance with its Climate Change Policy, Swire Properties publishes climate-related 昀椀nancial disclosures with reference to the recommendations of the Task Force on Climate-related Financial Disclosures (“TCFD”) on an annual basis; to communicate its management approaches and strategies for climate mitigation, adaptation and resilience to stakeholders. CLIMATE RISK ASSESSMENT Swire Properties completed a comprehensive assessment of the key physical risks posed by climate change to its global assets and business operations, with an aim to develop long-term strategies that protect the business from future climate-related risks. PHYSICAL RISK ASSESSMENT This consists of asset-level modelling of both the acute and chronic physical risks associated with various climate scenarios, presented in selected timeframes from the immediate term to the distant future – 2030, 2050 and 2100. The global property portfolio has a low to moderate risk of 昀氀ooding, heat stress, water scarcity and extreme winds in all climate scenarios assessed. This is because Swire Properties’ buildings are relatively resilient and have a variety of mitigation measures in place. Examples include enhanced 昀氀ood protection and alarm systems, improved chiller e昀케ciency, regular inspections of glass facades and the installation of intelligent monitoring systems. Some resilience measures will be introduced at the planning and design stages of new developments to ensure that Swire Properties’ assets remain resilient to di昀昀erent future climate scenarios. ASSESSMENT OF TRANSITION RISKS AND OPPORTUNITIES As the world transitions to a low carbon economy, Swire Properties has comprehensively assessed international, national and local government policies, including the Hong Kong Blueprint for Climate Action 2050 as well as regulatory, market and technology trends, in the context of di昀昀erent climate scenarios. The analysis shows that the identi昀椀ed transition risks and opportunities can be e昀昀ectively managed through our existing business and sustainability strategies as we transition to a low carbon economy. Swire Properties 43
RESILIENCE INDICATOR 4 Environmental and Physical Resilience Taikoo Hui Guangzhou exceeds government-regulated requirements for physical infrastructure, and leads the industry’s long-term decarbonisation and sustainability e昀昀orts – via pioneering initiatives, without compromising business operations. ENERGY REDUCTION AND DECARBONISATION From the design and construction to the maintenance and operations, Taikoo Hui Guangzhou adheres to the concept of green environmental protection. Under the e昀昀ective measures of energy conservation and carbon reduction, the overall energy consumption of Taikoo Hui Guangzhou is decreasing year by year. From full opening to the end of 2021, approximately 7.8 million kWh of electricity (equivalent to 960 tonnes of standard coal generation) and 41,000 tonnes of water (equivalent to more than 74.5 million ordinary bottles of mineral water) have been saved. 80000000 70000000 60000000 50000000 40000000 30000000 20000000 10000000 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Rent area Public area Total Trend Energy consumption data over the years • Eco-friendly toilets – the application of advanced technology: Glass 昀椀bre reinforced gypsum (GRG), a green material for The interior walls are made of 100% recycled and recyclable walls and suspended ceilings, has been used in a number paper tubes of bathrooms 44 The Creative Transformation of Taikoo Hui Guangzhou
• Solar photovoltaic power generation project: Taikoo Hui Guangzhou enabled the rooftop distributed photovoltaic power generation project, reducing carbon emissions and generating up to 76,000 kWh of electricity annually • The Taikoo Hui Guangzhou cloud- based intelligent energy management platform (EcoStruxure) has been built to enable real-time monitoring and analysis of system operating parameters and system performance evaluation indicators, and automatic testing of equipment. LEED GREEN BUILDING CERTIFICATION In 2012, both o昀케ce towers became the 昀椀rst projects in Guangzhou to achieve LEED Gold certi昀椀cation in the “Building Body and Envelope System” category. In 2017, the Taikoo Hui Guangzhou Shopping Mall and two o昀케ce towers were awarded LEED Platinum certi昀椀cation in the “Existing Buildings: Operations and Maintenance” category. And in 2022, the Mall and two o昀케ce towers were again awarded LEED Platinum certi昀椀cation in the “Existing Buildings: Operations and Maintenance” category. ROOF GARDEN PLANT DIVERSITY Roof gardens are planted with di昀昀erent species of trees and shrubs. The air-purifying and CO2-absorbing capacity of the greenery mitigates the greenhouse e昀昀ect, while the transpiration of the shade and green foliage produces a cooling e昀昀ect on the roof; thus reducing energy consumption and the building’s heat island e昀昀ect. Swire Properties 45
RESILIENCE INDICATOR 5 Climatic Adaptation Assessment Measuring the climate suitability of a public space is of great value for optimising the comfort of space use, improving the quality of life of community residents, and catering to the vision of sustainable development. REGULATION OF ROOF GARDEN ON MICROCLIMATE Taikoo Hui Guangzhou’s green roof connects o昀케ce buildings, hotels, shopping malls, dining areas and cultural centres, forming a green plateau that overlooks the surrounding urban landscape. Decorative skylights and vents on the green roof bring light and air to the underground level. Planting a variety of trees and shrubs on the roof also mitigates the greenhouse e昀昀ect, reduces building energy consumption and reduces the building heat island e昀昀ect. In addition, there is a vegetable garden area on the roof garden, which is expected to connect employees, tenants, the community and the public, allowing them to practice the concept of sustainable development and create a better urban life together. Ventilation Numerical simulations based on computational 昀氀uid dynamics were carried out using PHOENICS software to simulate the summer and winter ventilation environment of the Taikoo Hui Guangzhou roof garden. The simulation results show that the wind speed in summer and winter is maintained within the range of 0-2.5 metres per second, which provides a good ventilation environment for the roof garden throughout the year. According to the results of the ventilation simulation and the behavioural characteristics of the visitors, 17 sampling points on the roof garden were selected and ventilation was measured using an anemometer at each point. J(1.17) O(1.93) I(1.60) K(0.81) N(2.30) L(1.60) M(1.77) Summer ventilation simulation G(1.87) P(0.90) E(0.63) F(0.60) Q(2.03) H(1.89) D(0.60) C(1.29) B(0.83) A(1.22) Measured sampling points (colour consistent with simulated take) Winter ventilation simulation Actual measurements at roof garden anemometer sampling points (summer) 46 The Creative Transformation of Taikoo Hui Guangzhou
In the design of the roof structure, the All air conditioning cooling towers are located skirt building ventilation tube well is on top of the high-rise towers, which reduces set in the interlayer, which avoids the the heat island e昀昀ect and noise in the main space of the roof garden. This buildings. This is also bene昀椀cial in terms of e昀昀ectively reduces the in昀氀uence of ventilating the buildings’ lower spaces and the waste gas and noise, and provides comfort of outdoor activity areas. conditions for the comfortable Section of mezzanine 昀氀oor and roof microclimate environment of the duct of podium rooftop garden. Location of air conditioning cooling tower Rooftop exhaust and noise vent Rooftop garden plan Air-conditioning cooling tower placement MEASURES FOR TYPHOON WEATHER Although the slate 昀氀oor of the rooftop garden is completely 昀氀at, a 3mm gap is reserved between each slate. After rainwater 昀氀ows into the rainwater well in the interlayer, it is quickly drained away in an organised way, which can e昀昀ectively avoid water accumulation on the ground even during a rainstorm. The unmanned aerial vehicle (UAV) and telescope are equipped to check glass safety every two hours during a typhoon period; there are rainstorm emergency plans and collborative plans; and a specially-equipped rainwater collection system that can temporarily store rainwater and e昀昀ectively reduce the amount of water discharged to municipal facilities during typhoons and rainstorms. Swire Properties 47
What makes Taikoo Hui Guangzhou a great place? The world was a very di昀昀erent place in April 2020 when we Some of the special features which make Taikoo Hui Guangzhou a published our 昀椀rst Places Impact Report on Taikoo Place in Hong great place include: Kong. At the time, a global pandemic was emerging and no one could have predicted the enormous challenges that were to be • The multi-layered design creates a high degree of mixing and faced in the coming few years. In 2021, at the mid-point of the connectivity throughout the whole complex; pandemic, in the midst of COVID control measures and economic • The rooftop garden is a valuable public oasis appealing to a uncertainty, we published our second Places Impact Report, diverse range of shoppers, o昀케ce workers, visitors and the focused on Taikoo Li Sanlitun in Beijing. In March 2023, as the local community; borders have 昀椀nally reopened to signal the end of the pandemic restrcitions, we have decided to publish our third Places Impact • The complex is accessible during “non-business” hours, Report, featuring Taikoo Hui Guangzhou. providing convenience for a diverse group of people other The extraordinary events of the past three years have provided than shoppers; further evidence that what makes a great place, now more than • The 昀椀rst store “harvester” strategy, which brings many ever, are human connections. new international brands to Guangzhou, in combination From our previous analysis, we determined that those connections with ongoing cultural programmes, makes it an attractive need to be shaped by well-designed, human-centric physical destination; spaces (placemaking), in combination with consistently well- • International brands perceive Taikoo Hui as the preferred managed engagement programmes and events to activate the location to enter the Guangzhou market, resulting in a longer, space (placekeeping). win-win collaboration; While this remains true, we have observed an important change. A • An integrated o昀툀ine and online community has been great place is a vibrant, multi-dimensional ecosystem. It integrates established, resulting in high “heat” and continual interest with the city and the surrounding community. The physical space in the development. is very important as it brings people together and creates the vibrancy that is necessary for human connection. The pandemic has also highlighted the importance of making and maintaining human connections in the online environment.A great place, therefore, requires a well-designed physical infrastructure in combination with diverse and dynamic, people-orientated programmes to enjoy both online and o昀툀ine. 48 The Creative Transformation of Taikoo Hui Guangzhou
OUR RESEARCH OF TAIKOO HUI GUANGZHOU REVEALS A SIGNIFICANT CHANGE IN THE AREA OVER THE PAST DECADE YEARS. SPECIFIC EVIDENCE OF PLACE IMPACT INCLUDES: Since the opening of Taikoo Hui Guangzhou, the number of points of interest in the surrounding area has increased signi昀椀cantly. The increase in pedestrian 1 footfall has promoted an shift in urban gravity and commercial activity eastward along Guangzhou’s Tianhe Road. This has provided positive momentum to develop and expand the Tianhe Road Commercial Zone. Taikoo Hui Guangzhou has attracted international and domestic brands to open new stores in Guangzhou. Since opening, the mall has introduced 209 “昀椀rst stores”, thereby acceleration the evolution of the city’s commercial landscape. 2 This, in combination with a steady stream of contemporary cultural exhibitions and events in public spaces, has contributed to the introduction of new ideas and development of innovative trends in the community. Evidence of social and economic resilience has been observed over the past decade, especially during the COVID-19 period. At the tail end of the pandemic, 3 footfall during the 2023 Spring Festival holiday saw a 22% increase compared with the same period last year, an 11% increase compared to same period in 2019 pre-pandemic. Swire Properties 49
While Taikoo Hui Guangzhou has achieved considerable The Creative impact in all four dimensions of place, to ensure future success it will be essential that it continues to engage its customers, tenants, visitors and the surrounding community with exciting placekeeping events and activities, along with more online Transformation experiences to promote closer connections to the wider Continues community. “The success of Taikoo Hui Guangzhou is a result of the WHAT’S NEXT? close collaboration between multiple stakeholders who share a common vision Placemaking and placekeeping are long-term commitments. to create a great place where people and After celebrating its 昀椀rst 10-year anniversary in 2021, Taikoo Hui communities thrive. In particular, the continued Guangzhou has continued to invest in and bring positive change success over more than a decade is due to the to the surrounding neighbourhood, and the wider Tianhe District. unwavering support of the local government. As We’re con昀椀dent that this will bolster the area’s vibrancy, we look to the future, we will continue to invest in increase the number of interest points, foster a thriving business Taikoo Hui and the surrounding neighbourhood to contribute to the development of Guangzuou as community and support local economies. an international consumption centre city.” In conjunction with these commitments, we are planning — Tim Blackburn, Chief Executive to upgrade the existing Hui Fang area by introducing more of Swire Properties softscape while transforming the hardscape to increase the variety of tenants and attract new customers. Swire Properties is committed to investing in the neighbourhood with exciting plans in place to organise more cultural events, art exhibitions and performances at Taikoo Hui Guangzhou to introduce new experiences for visitors to enjoy. 50 The Creative Transformation of Taikoo Hui Guangzhou
FUTURE COLLABORATIONS Regular interaction and multi-party cooperation with local government at all levels is important for the sustainable development of Taikoo Hui Guangzhou and its surrounding areas. Looking ahead, we will continue to explore opportunities to play a greater role in shaping the city’s development and to promote its unique urban cultural identity, so as to enhance the competitiveness and the social and economic development of the Tianhe Road Commercial Zone. Taikoo Hui Guangzhou’s pedestrian-friendly design, the close collaboration with the local community, and the wealth of cultural and artistic programming re昀氀ect Swire Properties’ commitment to creating long-term value through the sustainable development of the built environment. Our Creative Transformation journey continues… Swire Properties 51
Glossary RESEARCH PRINCIPLES AND METHODOLOGIES 4. Online big data analysis The data collection, analysis, presentation and design of this research The platform “Xinbang has numbers” can monitor and collect data from report is the result of a collaborative e昀昀ort. The research was led by the mainstream apps such as TikTok and Xiaohongshu, and the raw data South China University of Technology, and various departments of Swire collected by the platform is used for tra昀케c and content analysis. Properties also made signi昀椀cant contributions to the project by providing 5. Taikoo Hui Guangzhou-related commercial operation data historical data and business records. DATA SOURCES Taikoo Hui Guangzhou provided commercial operational data to support this study. The data includes, but is not limited to, Mall format, rental and The Community Impact Assessment Framework used in this study required employment information, hotel and o昀케ce-related data, community bene昀椀t- a multifaceted analysis, using data from eight main sources. related project information and data from Swire Properties’ Technical Services and Sustainable Development (TSSD) department. 1. Questionnaire survey and in-depth interviews 6. Taikoo Hui Guangzhou Design Drawings Between May and July 2022, the research team, with the assistance of The planning and design drawings and original documents for Taikoo Hui Taikoo Hui Guangzhou, conducted a questionnaire survey of visitors, Mall Guangzhou gave a better understanding of the spatial characteristics of employees, o昀케ce tenants and hotel residents in and around Taikoo Hui the site. Guangzhou. Questionnaires were distributed to nearby residents with the assistance of the Linhe Street O昀케ce. 7. Other research and report literature Interviews were conducted with designers involved in the development The research team also made full use of past research reports and and construction of Taikoo Hui Guangzhou; senior management of publications by Swire Properties. For example, the Company’s Sustainability Swire Properties and Taikoo Hui Guangzhou; the General Manager of Report provides information on the potential impacts of climate change in the Mandarin Oriental, Guangzhou; relevant o昀케cials of the Tianhe CBD the Climate Risk Assessment, as well as relevant strategies that have been Management Committee; and experts, scholars and other disclosed to enhance resilience and mitigate risks. relevant individuals. 2. Point of interest data (POI) 8. In-depth 昀椀eld research Point of interest (POI) data was obtained from Baidu Maps and contains The team used in-depth site research to record the behavioural maps of location information of various types of facilities. This study used restaurant di昀昀erent groups of people and to record the number and location of security POI to analyse the density of restaurants within the Commercial Center of cameras re昀氀ecting street safety as a basis for data analysis. The team also Tianhe District. used an anemometer to measure the ventilation of the roof garden at Taikoo Hui Guangzhou to assess how comfortable it is for visitors and how it 3. Baidu Heat Map could be improved. The Baidu Heat Map calculates the density of people in an area based on the location information carried by the mobile phone signalling data, and displays the results in di昀昀erent colours to re昀氀ect spatial di昀昀erences in footfall. 52 The Creative Transformation of Taikoo Hui Guangzhou
VIBRANCY LIVELIHOOD Density of public transport facilities – The degree of public transport Density – The density of crowd gathering can re昀氀ect the strength of connectivity refers to the di昀케culty of reaching Taikoo Hui Guangzhou from economic behavior to a certain extent. Baidu Heat Map shows the density other places, and the density of surrounding public transport facilities can through the location information carried by smartphone users, with di昀昀erent express this indicator, that is, the density of subway entrances and exits colours and brightness re昀氀ecting the spatial di昀昀erences in foot tra昀케c. within a 10-minute (500m) walk of Taikoo Hui Guangzhou, and the density Visitors – The visitor data used in this report was collected from visitor of bus stops within a 5-minute (300m) walk. The results are expressed as satisfaction surveys and the sample size was 411. the number of stops/block area. The higher the density of public transport facilities, the higher the degree of public transport connectivity. Nearby residents – Data from nearby residents at Linhe Street was Density of pedestrian network – The density of pedestrian paths can collected from 147 completed surveys. re昀氀ect whether the block is suitable for walking. The higher the density Commercial employees – Data from commercial employees was collected of pedestrian paths, the higher the walkability of the block.Expressed as from 395 completed surveys. pedestrian length/block area (m/ha). Business employees – Data from business employees was collected from Development intensity – Development intensity is an analysis of 昀氀oor 682 completed surveys. area ratio, which is calculated by dividing the total 昀氀oor area by planned construction land area. This indicator evaluated the Taikoo Hui Guangzhou investment and the other comparable commercial complexes in Guangzhou. Visitor behaviour – Through questionnaires and surveys, the space where visitors often stay was studied. Connectivity – This refers to the convenience of connection between the Taikoo Hui Guangzhou underground space and public transportation, the connection between commercial inner street and urban street, and the connection between the rooftop garden walking system and urban street. Barrier-free walking system – The barrier-free connections at Taikoo Hui Guangzhou include barrier-free connections with public transportation and the surrounding streets and accessible interior space. Heat – Heat symbolises the vitality of the community, including the popularity of o昀툀ine tra昀케c and the online popularity formed by social media. Swire Properties 53
WELLBEING RESILIENCE Management Satisfaction – The satisfaction survey used a scale of 1 to 5 (1 Historical sales – This indicator is derived from 昀椀nancial data on commercial being very dissatis昀椀ed and 5 being very satis昀椀ed) to evaluate the following retail sales at Taikoo Hui Guangzhou for the calendar years 2011 to 2021. six aspects of site management: cleanliness, order management, security Economic recovery during the pandemic – This metric is derived from measures, outdoor facilities maintenance, waste management and wireless hotel occupancy data from 2013 to 2021 for the Mandarin Oriental, Internet access. The overall site management satisfaction score for Taikoo Guangzhou and from Xiaohongshu postings within 60 days of the “5.21” Hui Guangzhou is the average score of these six aspects. outbreak in Guangzhou. Visual Satisfaction – The satisfaction survey used a scale of 1 to 5 (1 means Enterprise risk management – Under the risk management framework, the very dissatis昀椀ed, 5 means very satis昀椀ed) to evaluate the following aspects: Swire Properties Board and management are responsible for determining overall environmental quality of architectural modelling, architectural colour, 昀氀oor paving and site greening. The visual satisfaction score for Taikoo Hui and analysing potential risks to the achievement of business objectives and Guangzhou is the average score of these 昀椀ve aspects. identifying strategies to manage and mitigate such risks. Spatial Satisfaction – The satisfaction survey used a scale of 1 to 5 (1 being Climate-related 昀椀nancial disclosure – We inform stakeholders and very dissatis昀椀ed, 5 being very satis昀椀ed) to evaluate the following aspects: investors of our management approach and strategy for mitigating, reasonable 昀氀oor plan, underground space, atrium and entrance plaza, roof adapting to and remaining resilient to climate change. We disclose garden, public seating, sanitary construction, and overall atmosphere. The climate-related 昀椀nancial information in four areas: governance, strategy, risk spatial satisfaction score for Taikoo Hui Guangzhou is the average score of management, and metrics and targets. these 昀椀ve aspects. Climate risk assessment – We completed a comprehensive climate risk Public area ratio – The public area ratio refers to the ratio of the public area assessment to identify the key risks to business operations from climate of a 昀氀oor to the total area of the 昀氀oor. change. We selected short and long-term time frames and modelled The public area hollowing rate – The public area hollowing rate refers to emergency and long-term physical risks at the asset level under various the ratio of the total area of the atrium hollowing to the public area of a climate scenarios. certain 昀氀oor. Ventilation – The ventilation study was carried out using a numerical The atrium scale – The atrium scale is the ratio of the maximum width of the simulation method by PHOENICS, based on computational 昀氀uid dynamics atrium plus the width of the public inner street on both sides to the height of and wind speed measurements by using an anemometer in the 昀椀eld. the atrium. This geometric index is expressed as width/height (D/H) value, which is closely related to the visual and psychological feelings of pedestrians in the inner street. ABOUT SWIRE PROPERTIES ACKNOWLEDGEMENTS Swire Properties develops and manages commercial, retail, hotel, and This report is co-produced by Swire Properties and The School of Architecture, residential properties, with a particular focus on mixed-use developments in South China University of Technology. prime locations at major mass transportation intersections. Swire Properties is listed on the Main Board of the Stock Exchange of Hong Kong and its investment portfolio in Hong Kong comprises Taikoo Place, Paci昀椀c Place, Cityplaza, Citygate Outlets. In addition to Hong Kong, the Company has investments in the Chinese Mainland, the United States, Indonesia, Vietnam and Thailand. In the Chinese Mainland, Swire Properties has six completed mixed-use developments in Beijing, Shanghai, Guangzhou and Chengdu. INDIGO II in Beijing, Taikoo Li Xi’an and a new retail-led project in Sanya are currently under development. The Company’s completed portfolio in the Chinese Mainland comprises approximately 1.3 million sqm of space. 54 The Creative Transformation of Taikoo Hui Guangzhou
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What makes a great place? This is our third Places Impact Report and we asked ourselves the same simple question: what are the qualities that help shape a healthy, vibrant and resilient place? We applied our “Places Impact Framework”, 昀椀rst developed in our inaugural report, to conduct an assessment of the impact of our placemaking and placekeeping e昀昀orts in Guangzhou. In this report, we focus on Taikoo Hui Guangzhou – a retail-led mixed-use development and our 昀椀rst comprehensive development in the Chinese Mainland. Following this research, we are more motivated than ever to create and maintain quality places that serve our communities and contribute to resilient cities. Find out more about @ swireproperties.com or get in touch: [email protected]