SD in Action
Taikoo Place
Evolving into a Global Business District
Once the home of Swire’s Taikoo Sugar Refinery and Taikoo Dockyard, the area spanning a large part of eastern Hong Kong Island has evolved over the years and is now increasingly being recognised as one of the Global Business Districts.
The Taikoo Place area has undergone many transformations over its long life – from a sugar refinery, to a port to an industrial area to a commercial centre, and most recently into one of Hong Kong’s bestplanned business hubs. It is now a thriving, fully integrated and sustainable community, home to over 300 multinational corporations, including many Fortune 500 companies, along with a wide range of carefully curated business and leisure amenities and large landscaped open spaces with water features. With a HKD15 billion redevelopment just completed, Taikoo Place is a successful showcase of Swire Properties’ placemaking strategy, with a wide range of tenant engagement activities centred on wellness, art and culture that make Taikoo Place a location of choice for corporates.
The SD in Action section of this report explores Taikoo Place through the lens of the five pillars of our SD 2030 Strategy, illustrating its role as one of Hong Kong’s most important places.
Portfolio Highlights
Green Buildings
Seven office buildings completed recertification for the BEAM Plus Existing Buildings (“EB”) V2.0 (Comprehensive Scheme) and obtained the highest Platinum rating. Taikoo Place also received a final Gold rating under LEED v4.1 for Cities and Communities: Existing, making the complex the first project in Hong Kong to receive LEED for Communities certification.
Digitalisation
Taikoo Place was the first business hub in Hong Kong with 5G connectivity in indoor and outdoor spaces and one of the first portfolios to attain the WiredScore certification, while Two Taikoo Place was one of the first buildings in Hong Kong to become both WiredScore and SmartScore Platinum certified.
Decarbonisation
One Taikoo Place achieved Super-Low energy performance ratings in the Hong Kong Green Building Council’s Zero-Carbon-Ready Building Certification Scheme.
Biodiversity
The first complex in Hong Kong to conduct a comprehensive biodiversity study during a redevelopment project to evaluate the state of urban biodiversity.
Placemaking
The Swire Properties Placemaking Academy (“SPPA”) gives students guidance and mentorship as they organise Taikoo Place’s popular annual White Christmas Street Fair on Tong Chong Street which is at the heart of Taikoo Place.
Five Pillars
Placemaking
Published in 2020, Swire Properties’ first Places Impact Report identified how Taikoo Place’s contributions create ongoing socio-economic benefits.
Volunteering
Taikoo Place plays a significant role in Swire Properties’ thriving Community Ambassador programme, hosting a wide variety of community engagement programmes.
Tenants
Taikoo Place supports and works closely with our tenants, helping them integrate sustainable practices into their operations throughout their tenancies.
Energy Efficiency
All buildings in the Taikoo Place have an excellent energy use intensity performance and we are committed to continuously building on this.
Catalysing Business Development and Investment
As a well-planned, vibrant, sustainable, human-centric, and technically advanced business hub, Taikoo Place plays a market-leading role in Hong Kong.
Vibrancy
Taikoo Place is one of the Global Business Districts with a dynamic and integrated community hosting a wide range of business and leisure amenities.
Diversity & Inclusion
Taikoo Place welcomes, promotes and visibly supports diversity through events, tenant networks and forums.
Renewable Energy
Taikoo Place is committed to continuously growing its renewable energy generation capacity using various generation methods. By the end of 2023, the total renewable energy generated in Taikoo Place is over 226,000 kWh.
Livelihood
Taikoo Place is a key employment hub for Hong Kong, hosting global financial and professional service firms employing thousands of people.
Resource and Circularity
Taikoo Place supports the circular economy by reducing and managing waste effectively and promoting circularity across the complex’s operations.
Wellbeing
Taikoo Place offers access to nature, public art, community programmes, and high-quality public spaces and amenities with human-centric design elements.
Green Building Certifications
Buildings in the Taikoo Place have been certified by some of the world's most prestigious green building schemes.
Resilience
Taikoo Place and the wider Island East district have a unique local character and a long-standing history of economic and social transformation.
Biodiversity
Taikoo Place integrates biodiversity considerations into its targets, policies and procurement processes, and proactively seeks out nature-based solutions.
Places
Placemaking
Places
Placemaking
Published in 2020, Swire Properties’ first Places Impact Report identified how Taikoo Place’s contributions at the investment, place and city level, along with our placemaking and placekeeping efforts, create ongoing socio-economic benefits that feed into the surrounding area and improve the lives of residents, workers and visitors. The report examined the development’s impact through the four dimensions of place: livelihood, wellness, vibrancy and resilience.
Swire Properties is a major investor and developer in Hong Kong’s distinctive Island East area, and Taikoo Place has become a catalyst, encouraging other property developers and government entities to invest in and transform the area with collective effort.
People
Volunteering
People
Volunteering
Community Ambassadors at Taikoo Place
Taikoo Place plays a significant role in Swire Properties’ thriving Community Ambassador programme, which initiates and participates in numerous activities benefitting a broad cross-section of society. Past initiatives include the “Redress Sort-a-thon” held at Taikoo Place in 2022, where our Community Ambassadors teamed up with corporate volunteers. In 2023, the group processed 20 tonnes of old clothing, collected during “Get Redressed Month”, in just 18 hours. These items were then donated to local charity partners, resold at secondhand shops or recycled.
Another initiative was the popular “My Construction Hero” event, where 50 young ambassadors watched live construction work at Two Taikoo Place from the headquarter office of Swire Properties on 64/F of One Island East. They also learned about the HKD15 billion Taikoo Place redevelopment project and played interactive health and safety-themed games.
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Circularity Events Benefitting the Community
Taikoo Place is also a hub for community and sustainability-focused events that raise money for important causes. The “Get Redressed Pop-up #ShopSecondhand Summer Edition 2023” featured a collection of donated second-hand fashion pieces, with proceeds going to Redress, an environmental NGO working to reduce waste in the fashion industry.
“BOOKS FOR LOVE @ $10” is another popular annual fundraising event that aims to pass on the joy of reading and promote circularity by collecting and selling second-hand books donated by the public. This online and offline sale collects tens of thousands of donated books that are sorted and categorised by Community Ambassadors and volunteers from NGO partners, and then sold at a charity price of HKD10 each. BOOKS FOR LOVE @ $10 has grown in popularity over the years, raising more than HKD1 million in each of 2022 and 2023.
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Partners
Tenants
Partners
Tenants
New Taikoo Place App
Taikoo Place’s exclusive app for the office community was upgraded in 2023, becoming an all-in-one business community platform designed to cater to workplace needs such as choosing dining venues, seeking activities or finding exclusive spaces to host meetings. The Taikoo Place app allows users to make bookings, purchase event tickets and schedule medical appointments with a single click, streamlining these processes for user convenience. It also provides diverse tenant-exclusive offers and events to engage the office community, the most popular of which are the over 60 types of privileges and spending rewards, which include discounts and exclusive-access offers for F&B, retail and amenities; and over 40 on-site events and workshops that span fitness classes, meditation sessions, guided tours, SD-related workshops, and more. These offerings are often fully booked.
The Green Performance Pledge (“GPP”)
This is a performance-based landlordtenant partnership programme. The GPP covers the entire tenancy cycle, from fit-out, to operations to reinstatement, creating a significant impact in terms of energy, water and waste reduction. 61 Taikoo Place tenants have joined the GPP as of 31 December 2023.
The GPP is producing impressive results at Taikoo Place. All tenants now have access to their water usage data through smart meters, and three quarters of them are using water flow restrictors, resulting in a 22% reduction in water use intensity between 2022 and 2023. Almost 350,000 sq ft of tenanted space has been covered under energy audits, identifying over 70,000 kWh of energy savings. Read more about GPP here.
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Green Kitchen Initiative (“GKI”)
Launched in 2017, Swire Properties’ Green Kitchen Initiative helps our management teams and F&B tenants collaborate on making their restaurants more sustainable. Eight Taikoo Place tenants are part of the GKI.
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PROJECT AFTER 6
A long-running engagement programme that strengthens connections between office executives by bringing art, music and sports into their work environments, and tapping into unexplored creative potential of tenants. One of this year’s event was the “Good Vibes Only” music festival, featuring over 40 talented musicians and groups performing lunchtime concerts throughout the summer.
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The Loop at Taikoo Place
For years, The Loop at Taikoo Place, established as a sustainable development exhibition centre, has hosted tours and workshops to engage Taikoo Place tenants and the wider community in incorporating sustainable practices into their business operations and everyday lives. We further expanded the experience by introducing a rooftop urban farm at the top of One Island East, in partnership with a social enterprise dedicated to urban farming – becoming the latest urban farm in Hong Kong. A variety of crops are grown throughout the year, tended to and harvested by tenant volunteers. These harvests are donated to local NGOs working to address food insecurity.
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Performance (Environment)
Energy Efficiency
Performance (Environment)
Energy Efficiency
All buildings in the Taikoo Place complex have excellent energy use intensity performance. Swire Properties is committed to continuously building on these achievements. Most recently, we implemented a cloud-based energy platform across Taikoo Place that uses IoT-connected data collection, big data analysis, artificial intelligence and cloud computing to examine building operation data and generate energy-management and energy-saving insights. We also implemented high-performance chillers and trialled ultra-high colour rendering index LED lighting, further enhancing energy performance.
Introduced in 2023, the Hong Kong Green Building Council’s Zero-Carbon-Ready Building Certification Scheme aims to foster a greener and more sustainable built environment through energy performance and green financing. One Taikoo Place received a “Super Low” energy performance certificate in both the Landlord and Whole Building categories. One Island East received a “Low” rating but committed to improving its rating to “Extra Low” by achieving a minimum of 10% energy savings by 2030. One Island East is one of three buildings in Hong Kong to receive a target-setting certificate.
Performance (Economic)
Catalysing Business Development and Investment
Performance (Economic)
Catalysing Business Development and Investment
Since the 1970s, Swire Properties has made continuous investments in the Island East area, which have increased dramatically in size and scope since Taikoo Place began to take shape in the 1990s. The latest of these, the HKD15 billion Taikoo Place Redevelopment Project, has taken Taikoo Place to the next stage of its evolution, capped by the completion of Two Taikoo Place and the new open space at the centre of Taikoo Place.
Taikoo Place – being a well-planned, vibrant, sustainable, human-centric and technically and digitally advanced business hub, plays an important market-leading role in Hong Kong in terms of:
- Business networks: Taikoo Place’s international business ecosystem fosters and nurtures business relationships through networking events and talks, creating a great sense of community among the working population.
- Premium office space and amenities: Taikoo Place has approximately six million sq ft of Grade A office space and carefully curated amenities.
- Diverse employment types: Taikoo Place has a significant number of different employment types, with the highest proportion being in financial and professional services.
- Risk management: Swire Properties’ robust risk analysis cover physical and transition climate risks, water risks as well as a business continuity plan.
Taikoo Place has contributed significantly to the growth and development of the entire Island East area, bringing prosperity, resilience and vibrancy to the surrounding community. It is also a driver of the city’s economy – a growing and increasingly important part of Hong Kong’s success.
Places
Vibrancy
Places
Vibrancy
Taikoo Place is a premium commercial hub with a dynamic and integrated community hosting a wide range of business and leisure amenities as well as an array of carefully curated tenant engagement programmes such as Project After Six, Tong Chong Street Market, different art and cultural programmes held at ArtisTree. These work together to benefit productivity and tenant wellbeing while also uplifting the surrounding neighbourhood.
White Christmas Street Fair
The Company’s annual year-end community celebration has become a tradition in the Taikoo Place neighbourhood. The event, which frequently attracts more than 80,000 visitors each year, allows us to celebrate the festive season with the whole community. This year, we were able to raise approximately HKD1 million, bringing the total raised for Operation Santa Claus, an annual charity campaign, to over HKD9 million over the past 11 years. A more recent tradition has seen the event designed and run by local university and secondary school students taking part in the Swire Properties Placemaking Academy. This gives future talents hands-on experience with placemaking, helping them learn how to contribute to the sustainability and vibrancy of communities in years to come.
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Tong Chong Street Market
The Tong Chong Street Market (“TCSM”) was created in 2015 to blend green lifestyle aspects with healthy eating and living, allowing us to build deeper connections with the neighbourhood. The market is one of our major SD 2030 initiatives, developing a like-minded community of culinary entrepreneurs, chefs and local farmers to promote sustainable eating and living, and continuing to engage the office community through exclusive dining experiences – The Great Farm Feast, beer festivals, pop-up farmers’ visits and lunchtime pop-up food trucks, providing diversified food and beverage options for the community and a social anchor for Taikoo Place.
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ArtisTree Selects: Urban Rocks
Presented by ArtisTree as part of Swire Properties Arts Month, “ArtisTree Selects: Urban Rocks” was held in March and April 2023, debuting 12 one-of-a-kind stone sculptures created by a Hong Kong-based French artist.
Standing at human scale, each monumental sculpture was hand-carved from a single piece of stone. This free exhibition invited the public to contemplate the dialogue between natural wonders and man-made art and reflect on humanity’s indelible mark on the planet. Over 4,300 people visited the exhibition, with guided tours and an audio guide made available free of charge. The exhibition is one of the many examples of our commitment to art and culture as an essential component in the ongoing success of our communities.
Swire Properties introduced ArtisTree to Taikoo Place in 2008, making diverse arts and cultural events accessible to the local community. Since its launch, this unique multi-purpose space has made significant contribution to Hong Kong’s art scene, with numerous landmark events and exhibitions. Over the years, ArtisTree has hosted more than 200 events that attracted over one million visitors.
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People
Diversity & Inclusion
People
Diversity & Inclusion
Taikoo WIN 2023 Mentoring Programme
The Taikoo Women's Inspire Network (“Taikoo WIN”) is a business network established by the Company and two of our Taikoo Place tenants, aiming to create a community in support of women working for professional firms and companies based in Taikoo Place. In 2023, the network launched the second cohort of the mentorship programme, aiming to contribute to a more gender-equitable workforce by elevating women in leadership. The six-month programme connected like-minded women across different experience levels in the Taikoo Place community.
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Pride Month
Every June, Swire Properties celebrates Pride Month and recognises the accomplishments of LGBTQ+ individuals. It is important to the Company that we foster an inclusive culture at Taikoo Place and across all our developments.
Taikoo Place celebrated Pride Month with a 5km Pride Road Race on 30 June 2023. The race started at One Island East, with the route winding along the Hong Kong waterfront. The 16 participants had fun, kept fit, and enjoyed the drinks and fun prizes waiting at the finish line. We also held a breakfast talk for employees on supporting LGBTQ+ youth, with guest speakers helping to create greater understanding among the participants.
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Pink Friday
Held every November, this annual event gives visible support to the LGBTQ+ community and celebrates the importance of inclusive and diverse workplaces. This year’s festivities included a colourful photo opportunity backdrop at Devon House and a staff yoga event at Blueprint.
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Performance (Environment)
Renewable Energy
Performance (Environment)
Renewable Energy
Taikoo Place is committed to growing its renewable energy generation capacity using various generation methods. By the end of 2023, the total renewable energy generated in Taikoo Place is over 226,000 kWh.
Solar – Solar photovoltaic panels are installed at One Taikoo Place and Two Taikoo Place, Dorset House and Devon House. Additional panels were installed at Cambridge House during 2023.
Biodiesel tri-generation systems are in use at One Taikoo Place and Two Taikoo Place.
A vertical axial wind turbine is in operation at Two Taikoo Place.
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Low-carbon Active Design
During the design and construction of Two Taikoo Place, Swire Properties adopted strategies and technologies to ensure the building’s upfront embodied carbon emissions were as low as possible. These included recycling 88% of the previously existing building during the demolition stage; and ensuring that the building was designed and built to the highest sustainability standards, achieving pre-certified Platinum ratings for LEED, WELL and BEAM Plus certification schemes. During construction, numerous low-carbon building strategies were adopted, including using a battery energy storage system instead of traditional diesel generators, an electric forklift, and using recycled timber and metal for structural work.
These efforts were successful, resulting in total upfront embodied carbon emissions of 76,783 tonnes of CO2e, or 643.2 kg of CO2e per sqm of construction floor area. This is 17% lower than our science-based targets (“SBT”) baseline, putting us well on track to meet our SBT Scope 3 – Capital Goods target of a 25% decrease by 2030.
Places
Livelihood
Places
Livelihood
Taikoo Place is a key employment hub for Hong Kong. The development is a base for a significant cluster of office-based financial and professional service firms, hosting a broad diversity of large firms that employ many thousands of people and support the evolving needs of Hong Kong’s economy.
Swire Archives
Established in 2011, Swire Archives works with Swire Group companies in Hong Kong and Asia, supporting them in building and professionally managing their historical archives. The Swire Archive Centre opened at Taikoo Place’s Cambridge House in May 2022, holding, amongst many other items, numerous Swire Properties photographs, sales brochures, drawing plans and past records that chart the Company’s history and development.
The Swire Archive Centre is also a community engagement venue for Swire Properties. In 2023, Swire Archives supported Swire Properties in engaging key stakeholders, including government representatives, business partners, tourism board members, journalists, and others.
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Building a Better Future at Taikoo Place
Produced by BBC StoryWorks Commercial Productions and the World Green Building Council, the “Building a Better Future” film series explores how sustainable development is a key strategy for planning a better tomorrow. The series produced a short film on Taikoo Place in 2020, demonstrating how Swire Properties took sustainability to the next level when designing, building and operating our portfolio and highlighting our aspirations for it to become a Global Business District. Watch the film here.
Performance (Environment)
Resource and Circularity
Performance (Environment)
Resource and Circularity
Taikoo Place supports the circular economy by reducing and managing waste effectively and promoting circularity across the complex’s operations.
The Loop at One Island East
A rooftop farm located 300m above the ground, the highest farm in the city. Created in 2021, this 300 sq ft urban farm has 50 planters for seasonal greens and herbs. In 2023, 50% of the harvest was donated to Feeding Hong Kong, while the other 50% was shared among the workshop participants. A food digester machine and composting tumblers have also been set up to convert tenant food waste into compost to fertilise the crops.
A Smart Reusable Cup Scheme
Hong Kong's first smart reusable cup network was launched at Taikoo Place in 2020. Since then, customers and office tenants have been able to choose reusable cups when purchasing takeaway beverages at several participating cafes, then bring them back to a “point of return” bin after they are finished. Since its inception, the scheme has prevented more than 23,000 cups from being thrown away.
A Smart Reusable Food Box Pilot
In March 2023, we began piloting a returnable, recyclable food box that helps reduce single-use plastic waste and promote circularity.
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Green Furniture Management Service
Available to Taikoo Place tenants, this service facilitates the reuse and redistribution of premium office furniture, helping them “close the loop”. This sustainable reinstatement service has an over 95% landfill diversion rate that has avoided over 500,000 kg of CO2 emissions.
Places
Wellbeing
Places
Wellbeing
Taikoo Place offers easy access to nature, public art, community programmes and high-quality public spaces and amenities, along with human-centric design elements that address community needs, provide shelter during harsh weather conditions and promote user comfort.
Promoting All-around Wellness
In addition to achieving the highest green building and wellness certifications, Taikoo Place prioritises continuous improvements in liveability, walkability, comfort and wellbeing. Elevated walkways ensure enhanced connectivity and thermal comfort, while the new Taikoo Garden and Taikoo Square serve as a tranquil and calming park and event space for Taikoo Place as well as a community space to showcase our commitment to biodiversity to our clients and the wider neighbourhood.
Wellness Events
Over the past few years, Taikoo Place has established a reputation as a hub for wellness-focused events. Covering various themes ranging from fitness and sustainability to art and culture, the emphasis has been on the importance of a healthy work-life balance. They organised the popular “+UP! Better Living” pop-up events, exploring health and wellness through exercise, self-care and meditation, and hosted a series of fitness classes that provide various ways of working out and keeping fit – from high-intensity workouts to ways to build muscle strength and release stress.
Taikoo Place also holds recurring annual corporate “Wellness Challenge” that create opportunities for corporates to bond, keep fit and support charitable causes at the same time, such as a nine-hole indoor golf tournament for corporate teams and the annual “8-hour Charity Spin” – an indoor spinning relay race that has raised millions of dollars for charity since 2018.
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Performance (Environment)
Green Building Certifications
Performance (Environment)
Green Building Certifications
One Taikoo Place and Two Taikoo Place
BEAM Plus New Building – Platinum (HK)
LEED BD+C: New Construction/Core and Shell – Platinum (HK)
LEED v4.1 Cities and Communities: Existing – Gold (HK)
WELL Building Standard – Platinum (HK)
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BEAM Plus Existing Buildings V2.0 (Comprehensive Scheme) Final Platinum:
One Island East, Oxford House, Cambridge House, Dorset House & PCCW Tower, Devon House and Lincoln House
All of our wholly-owned new development and portfolios at Taikoo Place have received the highest environmental building assessment scheme ratings.
Taikoo Place Receives LEED v4.1 for Communities Certification
Taikoo Place received a final Gold rating under LEED v4.1 for Cities and Communities: Existing, making the complex the first project in Hong Kong to receive LEED for Communities Certification.
LEED for Cities and Communities is a global rating system for evaluating a project’s contribution to sustainability and quality of life. The certification recognises sustainability achievements in areas such as energy efficiency, water conservation, access to amenities, social cohesion and ecosystem protection.
Taikoo Place scored full marks in categories including green building policies and incentives, resilience planning, access to quality transportation, stormwater management, and waste performance, among others. The recognition is a reinforcement of our placemaking efforts for our Taikoo Place redevelopment in transforming our community into a more lively, vibrant, resilient and sustainable dynamic city hub.
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Places
Resilience
Places
Resilience
Taikoo Place and the wider Island East district have a unique local character and a long-standing history of economic and social transformation, making the area uniquely resilient over the years.
Digitalisation and Innovation
Swire Properties is committed to leveraging the many possibilities of the Internet of Things (“IoT”) to build smart places, enhance resilience and provide the best experiences to our tenants, guests and visitors.
In May 2021, Taikoo Place became the first business hub in Hong Kong to be enabled with 5G connectivity in indoor and outdoor spaces. Providing significantly faster data speeds in and out of the office, 5G supports flexible work arrangements, increasing efficiency and productivity for tenants and visitors and uplifting the personal online experience for everyone.
Two Taikoo Place was also one of the first buildings in Hong Kong to become both WiredScore and SmartScore Platinum certified, the highest level of certification from these two global digital connectivity benchmarks. WiredScore assesses the ability of a building to meet the needs of the modern office tenant, while SmartScore certifies best-in-class smart buildings that deliver a fully integrated user experience through a modern, digital platform to improve efficiency, and that are fully future-proofed to meet the highest standards of sustainability.
Performance (Environment)
Biodiversity
Performance (Environment)
Biodiversity
TNFD Pilot Case
Taikoo Place was used a test case for the World Business Council on Sustainable Development’s Taskforce on Nature-related Financial Disclosures (“TNFD”) pilot process, showcasing the development’s approach to identifying and managing opportunities to increase positive urban nature impacts through green building practices. The case highlighted how Taikoo Place integrates biodiversity considerations into its targets, policies and procurement processes, conducts biodiversity assessments before and during the redevelopment, and how it proactively seeks nature-based solutions during planning.
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Taikoo Place Redevelopment Biodiversity Study
In 2020, we conducted a biodiversity study of the Taikoo Place Redevelopment Project, aiming to project the state of urban biodiversity after the project’s completion. The results revealed that the redevelopment created a substantial landscaped area – equivalent to 35% of the Taikoo Place footprint – that is extremely beneficial to urban trees, and that Taikoo Place would be more attractive to urban biodiversity given its inclusion of large native tree species.
New Green Spaces at Taikoo Place
Taikoo Square and Taikoo Garden are two new green spaces totalling approximately 69,000 sq ft which will open in 2024. Designed by an award-winning international, London-based landscape architecture practice, the two gardens will provide lush greenery, water features, quiet pathways, and native trees and vegetation. This extensive green open space is rare among Hong Kong’s highdensity commercial areas and will improve the local microclimate.
The gardens also have a feng shui woodland, a small but significant green space created by experts who curated a natural habitat using native tree species. The Loop at Devon House, newly established as a biodiversity showcase, installed new planters with local species to create habitats for butterflies and insects. We also installed QR codes near these planters and trees in Taikoo Place’s green spaces to give visitors more information on individual species and how they contribute to the ecosystem.
See More In
People
We believe that the contributions of our employees are critical to the implementation of our SD 2030 Strategy and the overall success of Swire Properties.
Partners
Swire Properties continues to develop long-term, mutually beneficial relationships with our business partners and other key parties to improve our SD performance.
Performance (Environment)
Swire Properties aims to design, construct and manage high quality developments that contribute positively to the environment and to the communities in which we operate.
Performance (Economic)
Swire Properties aims to deliver a sustainable economic performance coupled with good corporate governance and high ethical standards.
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