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03 May 2006

Three Pacific Place occupancy hits 90%

Swire Properties today (Wednesday, 3 May 2006) announced the recent commitments of three new asset management and luxury fashion tenants at Three Pacific Place. With these latest transactions, Three Pacific Place has achieved an occupancy rate of over 90%, with rent approaching HK$50 psf.

Three new tenants, namely Mirae Asset Global Investment Management Ltd. (Hong Kong), TOD'S Hong Kong Ltd. and Value Partners Ltd., have committed to a total floor area of over 38,000 sq ft.

Kim Yong Moon, Managing Director of Mirae Asset Global Investment Management Ltd. (Hong Kong), commented, "We are delighted to be able to secure our new office in a prime location at Pacific Place. What stood out about Three Pacific Place is the large floorplate with raised floors in a modern and well-designed new building. These, coupled with the excellent market standing of Swire Properties as a property management company, won us over."

Three Pacific Place is the latest addition to the Pacific Place development. The Grade-A office building features raised floor for easy dataline trunking, column-free floor space, dedicated parking and a gracious private drop-off. On top of that, Three Pacific Place will have a direct subway link to Admiralty MTR Station and the rest of Pacific Place complex, which are valued by multinational corporations as the preferred business location.

Besides a prime location, advanced facilities and professional management, tenants also appreciate Three Pacific Place's stylish environment.

"Amongst all Three Pacific Place tenants, over 58% belongs to the banking and professional services sector. Their decisions have no doubt reinforced Pacific Place's position as an established finance and banking hub," said Jolyon Culbertson, Director and General Manager of Swire Properties. "On the other hand, Three Pacific Place's modern architectural design and the artistic Starstreet precinct have attracted tenants who are looking for a premium address with a non-traditional commercial tone."

Sabine Brunner, General Manager of TOD'S Asia Pacific said, "Three Pacific Place is an ideal location for our head office in Asia Pacific. This site is a modern luxury with its prime location and top-grade facilities."

Emphasising building excellence, Swire Offices has created major business hubs in Hong Kong, offering multinational corporations quality facilities, connectivity, environment and services in which to operate.