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March 23, 2010

Swire-Sino Ocean Beijing project to complete in 2011

Along with its satisfactory construction progress, the project has recently acquired its official name - INDIGO. 
     "INDIGO is a colour communicating depth and vibrancy.  It represents a fashionable place filled with energy, an upmarket destination offering an aspirational lifestyle," said Martin Cubbon, Swire Properties' Chief Executive.
     With a site area of approximately 59,000 sq m, INDIGO has a total floor area of 176,000 sq m and comprises a premium shopping centre, an office tower and a lifestyle business hotel with over 360 guest rooms.  The project is due for completion in phases from 2011.
     On March 19, Swire Properties and Sino-Ocean Land secured a RMB2.5 billion 15-year syndicated loan for Beijing INDIGO project. They have entered into an agreement for a syndicated loan with Industrial and Commercial Bank of China, Beijing Branch and Bank of China, Beijing Branch for their joint-venture company, Beijing Linlian Real Estate Company Limited.
     In Mainland China, Swire Properties has an investment portfolio amounting to over 988,000 sq m, the majority of which is under construction. The four projects consist of mixed-use developments in Beijing, Shanghai and Guangzhou, with Sanlitun Village and The Opposite House hotel in Beijing being the best-known among them.