This will be the fourth iteration of their retail development series, Taikoo Li and the company’s seventh development in China.
The project was announced after the two companies successfully acquired (via government land tender) a site for commercial development in the Beilin District of Xi’an, at a total price of US$407M. The two companies will form a joint venture to develop the site as a retail-led mixed-use development, in which Swire Properties and Xi’an Cheng Huan Cultural will each hold a 70 per cent and 30 per cent interest respectively.
The total investment for this new development is expected to be approximately US$1.58bn. Xi’an becomes the fifth city in the Chinese Mainland in which Swire Properties has a business presence, following successes in Beijing, Shanghai, Guangzhou and Chengdu.
Swire Properties will collaborate with Xi’an Cheng Huan Cultural to develop an urban regeneration plan for the area. Located at the Small Wild Goose Pagoda historical and cultural zone in Beilin District, Xi’an in Shaanxi Province, the site will be developed into a retail-led project featuring an innovative low-rise, open-plan architectural design that exemplifies the brand DNA of Taikoo Li, and will comprise retail and cultural facilities in addition to a luxury hotel, serviced residences and business apartments.
With an estimated gross floor area (GFA) of 269,218sq m (above and below ground), this will be Swire Properties’ fourth Taikoo Li in the Chinese Mainland, following the successful development of Taikoo Li Sanlitun in Beijing, Sino-Ocean Taikoo Li Chengdu and Taikoo Li Qiantan in Shanghai. The project is expected to be completed by the end of 2025.
