Swire Pacific Limited

For immediate release 4th July, 2001

Swire Invites Offers On The Albany Units

Swire Properties is inviting offers for eight vacant flats at The Albany. Two on-site show flats are available for viewing strictly by appointment via Jones Lang LaSalle.

"The Albany is a unique asset, in terms of location, quality, and investment opportunity," said Mr Gordon Ongley, General Manager of Swire Properties.

As the only development on Albany Road, The Albany has guaranteed unobstructed open views of the Botanical Gardens and Central District. Many units have views of the harbour. Because of its unique location, there is no likelihood of further development in the vicinity.

"Prices will vary to reflect views, levels and flat sizes. We expect to achieve an average price over $13,000 psf which would raise in excess of $2.8 billion," continued Mr Ongley,

"We are in no rush to sell The Albany as it continues to achieve excellent rentals, but The Albany is not a core asset of Swire Properties, and we have a number of potential new opportunities more suited to our business as a developer."

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Source: Swire Pacific Limited
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