What: Q4 turnover are significantly increasing in both China and SAR Hong Kong.

Why it is important: The reported growth in China is not surprising given the healthy situation for luxury in the country (and raises questions about what comes next for luxury retailers in the rest of the world once borders reopen), however the growth rate in HK is more surprising and might suggest that the city is slowly returning to normal levels of business.

The Hong Kong-based real estate group has seen its revenue grow in Q4 2021 by double digits in 2021, in both China (between +11% and +33.4% according to the location) and Hong Kong (between +8.8% and +27.4% according to the location).

Occupancy rates are reported to be at 90%.

Swire properties sees luxury malls’ Q4 revenue grow across China