New path to urban regeneration

For Tim Blackburn-led Swire, rise of the middle class is opportunity to develop mixed-use properties

For Tim Blackburn, 47, CEO of Swire Properties' Chinese mainland arm, development or regeneration of high-quality properties over the long term, with emphasis on aesthetics and adding value to the local community, is a philosophy close to his heart.

That has held him in good stead through his decadeslong career with Swire, a Hong Kong-based developer, owner and operator of mixed-use commercial properties. He is now finding new meanings for that philosophy in the mainland.

Blackburn describes Swire as not only a developer of real estate but a pioneer in transforming places to work with local communities and stakeholders to create something sustainable.

He said rapid urbanization in recent years has resulted in a lot of inventory in the mainland. For Swire, it is "precious opportunity".

"Rather than demolition and construction of a new site, regeneration of an existing inventory and upgrade of an interesting location in downtown area ... that's what we are more interested in," he said.

"We're not looking for short-term profit, but to develop long-term properties, over 40 to 50 years. Transformation is very time-consuming as you try to change a neighborhood. We are more interested in urban regeneration, probably also the direction."

He mentioned Sino-Ocean Taikoo Li Chengdu as an example. It was awarded the silver ranking in the Best Urban Regeneration category in 2012 for recognizing and preserving the significance of the temple and its surrounding heritage buildings for the locals, while bringing to the city a brand new retail and leisure destination.

Blackburn said Swire's large-scale development in the mainland has been a response to the growth of middle-class consumers in recent years.

"The growth of middle-class consumers increases as China's economy moves toward domestic consumption, which reinforces the investment we made in high-quality developments," he said. "The trend is continuing and accelerating."

Swire has seen 33 percent of its worldwide real estate projects in the mainland by early November, with the grand opening of HKRI Taikoo Hui, its fifth mixed-used development in Shanghai, he said.

"That will increase our square footage to 8.8 million square feet on the mainland, 33 percent of our world portfolio compared with nothing 10 years ago," said Blackburn. "We see it as a strong evidence and confidence in the Chinese market."

Swire will target mainland's first-tier cities, where its focus will continue on its strength－development of mixed-use properties. "We always look for places where we can be part of the community and which provide us with an opportunity to experience everything that the city has to offer," he said.

He enjoys studying historical photographs and maps as they are "an important reminder of how places have evolved over time".

"I enjoy exploring the heritage of places so that I can understand how they have changed over time and how we can contribute to the creative transformation of places to meet the needs and aspirations of today's society."

"Places" here should mean real estate, a field that has seen strong demand for high-quality developments in recent years, in terms of design, being environmentally friendly and operational excellence.

Such transformation provides abundant opportunities for Swire, he said. "In the past, as long as you built a property, people used to come to buy or rent. But now, after you build it, you need to manage it well and curate it for the long term."

Born and raised in Bangkok, Blackburn relocated to the United Kingdom to graduate from Cambridge University in 1994. After receiving his master's in modern and medieval languages, he joined the Swire Group in 1994, and rose through the ranks to CEO of its China arm in 2017.

En route, he worked for several Swire companies worldwide－in Australia, Papua New Guinea, Singapore, Kenya, the UK and Hong Kong.

In 1997, he had the opportunity to live in a traditional Peranakan style shop house in Singapore, which had been converted into studio apartments.

The whole street had been transformed into a vibrant neighborhood, to be distinct from the modern glass-and-steel commercial architecture of the world famous Orchard Road area, which was only five minutes away.

That experience of a successful urban regeneration left a deep impression on Blackburn's mind.

Location, he realized, is the most essential requirement in choosing an apartment for himself. "With three young children, my requirements have changed a little in recent years, and for me location is always important. It should have good access to transport and quality public spaces. An established safe and quiet neighborhood is a priority."

A fan of contemporary arts, Blackburn said his interest has sensitized him to an aesthetic approach to managing Swire Properties in the mainland.

"China has such a vibrant contemporary art scene and we are always trying to integrate art and culture into our development projects through a combination of good design, public art installations and innovative cultural programming," he said.

Before relocating to Beijing in August, Blackburn spent the last few years in Hong Kong as Swire's general manager of development and valuations, responsible for identifying, assessing and advising on the acquisition and development of land and properties for investment and trading in Hong Kong.

Having spent the childhood in Thailand, Blackburn has, for many different reasons, also enjoyed living in Rio de Janeiro, Buenos Aires, Sydney, Port Moresby (the main point of entry into Papua New Guinea), Singapore and Hong Kong. "We're thoroughly enjoying getting to know Beijing too."