[ET Net News Agency, 20 January 2020] DBS Group Research lowered its target price for
Swire Properties (01972) to HK$29.25 from HK$29.7 and maintained its "buy" rating.
The research house said Swire Properties in October 2019 teamed up with Kerry Properties
(00683) and Sino Land (00083) to secure the development rights of Wong Chuk Hang Station
Package 4 through tender after defeating five other developers. This marked the company's
first residential project along the railway line in more than two decades.
Swire Properties has a 25% stake in this package which will provide about 800 units in
two residential towers with 0.64msf upon completion. (KL)