Prudential Hong Kong expands headquarters across Swire Properties’ towers
Prudential Hong Kong has agreed to lease headquarters space at Swire Properties’ One Taikoo Place and One Island East, marking a notable expansion of its office footprint in the city, according to the developer. Under the agreement, the insurer will occupy a total of 83,000 sq ft across the two buildings, “reinforcing the company’s commitment to Hong Kong and Taikoo Place as its long-term…
Prudential Hong Kong has agreed to lease additional office space at Swire Properties' One Taikoo Place and One Island East, expanding its footprint in the city, according to the developer. The insurer will occupy 83,000 square feet across the two buildings, reinforcing its commitment to Hong Kong and Taikoo Place as its long-term headquarters, stated Swire Properties.
Following the office consolidation, there will be a double-digit percentage increase in floor area, according to a Swire Properties spokesman. Prudential Hong Kong CEO Lawrence Lam expressed confidence in Hong Kong's future and the opportunities in one of the world's leading international financial and insurance hubs. The expansion aims to enhance the employee experience and position the company for the next phase of growth.
Swire Properties CEO Tim Blackburn emphasized that the investment is part of the HK$100 billion plan to ensure Taikoo Place remains a well-connected and amenity-rich global business district. The move comes amid concerns for the insurance sector following Beijing's increased scrutiny of returns earned by mainland Chinese residents from offshore assets.
Prime office empty space in Hong Kong fell to a 31-month low of 12.8% in July, according to property consultancy JLL.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
