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23 Mar 2010

HSBC Takes Up 27 Floors at TaiKoo Hui, Swire Properties’ Flagship Development in Guangzhou

Swire Properties today announced that The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) has signed a major undertaking with Swire Properties’ subsidiary, TaiKoo Hui (Guangzhou) Development Company Limited, to lease up to 27 floors of the developer’s latest Grade A office development at TaiKoo Hui in Guangzhou.

At a signing ceremony in Hong Kong, Peter Wong, Chief Executive of HSBC Asia Pacific, signed the leasing agreement confirming the Bank’s commitment to a gross floor area of over 766,000 sq ft (71,000 sqm) within the development. This accounts for approximately 43% of the gross floor area of the TaiKoo Hui office towers.

TaiKoo Hui will incorporate office, retail, hotel and cultural facilities within a single integrated project, connected directly to major metro and road links. The twin-tower office development offers world-class design and management supported by an outstanding business infrastructure. Target tenants include Mainland and international firms from the finance, telecommunications and technology industries.

Alan Walker, TaiKoo Hui’s Director of Portfolio Management, said: “We are delighted to welcome HSBC as one of our key tenants. Swire Properties is known for offering its tenants an outstanding working environment and TaiKoo Hui is the latest incarnation, with its excellent business infrastructure and management services. These factors, combined with TaiKoo Hui’s target multinational commercial community and international retail mix, will give HSBC the best possible support.”

The new office address at TaiKoo Hui will further serve HSBC's property needs in Guangzhou. According to HSBC, occupation will commence in the towers in 2012. The agreement for new office space at TaiKoo Hui underlines HSBC’s strategic commitment to China and is designed to meet the needs of the firm’s growing business and workforce over the longer term.

HSBC’s Wong said: “We are excited about the superior connectivity and infrastructure offered at TaiKoo Hui, as well as all the amenities on offer to our staff, and feel that this strategic location will enhance our business competitiveness.”

Centrally located in Tianhe District in Guangzhou and accessible via road and metro transport, TaiKoo Hui is expected to become the shopping, business and cultural hub in the city. 80% of the 1.49 million sq ft (138,000 sqm) retail centre is committed in advance of the phased opening later this year.