Swire Properties Ltd., the property flagship of blue-chip Swire Pacific Ltd. (0019.HK), said Tuesday HSBC Holdings PLC (HBC) signed a lease for nearly half of the office space of Swire Properties' Taikoo Hui commercial complex in Guangzhou, which is due to open in 2012.

Swire Properties said in a statement Hong Kong & Shanghai Banking Corp., HSBC's Asian unit, agreed to lease 71,000 square meters, or 27 floors, in Taikoo Hui. That accounts for about 43% of the gross floor area of the complex's office towers, it added. The complex also includes retail space.

The statement didn't say which of HSBC's operations will occupy the space. The U.K. lender's press office wasn't immediately available for comment.

Swire Properties holds 97% of the complex, and Guangzhou Daily News Group holds the rest.

Taikoo Hui is one of Swire Properties' four mainland projects. The company launched a Beijing commercial complex, The Village at Sanlitun, in 2008. It is also developing two commercial complexes in Beijing and Shanghai.

-By Aries Poon, Dow Jones Newswires; 852-2832-2332; aries.poon@dowjones.com
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