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21 Aug 2007

New leases at Pacific Place offices reaffirm its central business location and connectivity

Swire Properties announces that new lease commitments by leading global finance, banking and professional groups, totalling 60,000 sq ft in One and Two Pacific Place, have kept Pacific Place Offices to full occupancy with average rent firm at around HK$80 psf.

Two new tenants, Lovells, a leading international legal practice, and Credit Agricole Asset Management Hong Kong Limited, will occupy 31,400 sq ft and 11,500 sq ft respectively in One Pacific Place.

China Construction Bank, one of the top four commercial banks in Mainland China now listed in Hong Kong, will take up 17,000 sq ft in the top zone of Two Pacific Place.

Société Générale, a leading European bank, is also in discussions to take up additional space in Three Pacific Place to meet its expansion needs. Occupying a total of about 105,000 sq ft, Société Générale remains Three Pacific Place's largest tenant, and has become the second largest office tenant in the Pacific Place complex.

"We are happy with the latest office leasing transactions. Pacific Place Offices are sought after by reputable financial institutions for their unrivalled location and superior business connectivity," said Chris Heywood, Senior Portfolio Manager of Swire Properties. "The strong demand has resulted in us reaching almost full occupancy, with market rent firmer than ever. It has also enabled further improvements to the profile of Pacific Place's office tenants."

With its emphasis on building excellence, Swire Offices has created major business hubs in Hong Kong, offering business corporations the best facilities, connectivity, environment and services in which to operate.