Swire Properties may sell Kowloon office tower worth about US$1b

Hong Kong

SWIRE Properties, the second-largest Hong Kong office landlord, is exploring the sale of an unfinished office tower in the city's Kowloon area that could fetch as much as US$1 billion, people with knowledge of the matter said.

The office project in Kowloon Bay, which is expected to be completed in 2017, will have an aggregate gross floor area of about 555,000 square feet. Swire's advisers will begin reaching out to potential buyers, including overseas investors, in the next few weeks, one of the people said, asking not to be identified as the information is private.