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CICC: SWIREPROPERTIES (01972.HK) Shows Remarkable Performance in CN Malls; HK Properties Remain Resilient
2026-02-09 10:56:11
SWIREPROPERTIES (01972.HK) showed continuous improvement in the performance of its HKRI Taikoo Hui in Shanghai and Taikoo Li Sanlitun in Beijing, driven by the completion of luxury brand store renovations, with 2025 retail sales increasing by 49.6% and 11.2% YoY respectively, CICC released a research report saying.

In the context of high vacancy rates in Hong Kong's office market, the overall occupancy rate of the Company's Hong Kong office buildings posted at 91%. Of which, the occupancy rate in the core area of Pacific Place increased by 1 ppt YoY to 96%, while Taikoo Place's occupancy rate decreased by 4 ppts YoY to 89%.

Therefore, CICC maintained its profit forecast for the Group unchanged, and kept rating at Outperform and a target price of $26.5, corresponding to a dividend yield of 4.3%/ 4.5% for 2025-2026, implying an 8% upside room.
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