Laopu Gold deepens Hong Kong footprint with entire-floor lease at Central tower: sources
Beijing-based jeweller Laopu Gold has leased an entire mid-floor at One Exchange Square in Central to support its global expansion, according to two sources familiar with the matter. The brand was taking around 13,000 square feet at the flagship Central tower, which houses Hong Kong Exchanges and Clearing (HKEX), one source said. The deal comes as mainland consumer firms and financial…
Beijing-based jeweller Laopu Gold has leased a full mid-floor at One Exchange Square in Central, Hong Kong, to bolster its international growth, according to sources. The brand will occupy around 13,000 square feet at the prestigious Central tower, which is home to Hong Kong Exchanges and Clearing (HKEX). The agreement comes as mainland consumer companies and financial institutions are increasingly setting up shop in Hong Kong's central business district.
Recent transactions on the 36th floor of the same building reportedly commanded monthly rents of approximately HK$1.69 million (US$215,000), as per Centaline Property Agency data.
Laopu Gold, founded in 2016 and known for its handcrafted heritage jewelry, has thrived amid China's consumer downturn, capitalizing on gold's reputation as a safe-haven asset. Since listing on the Hong Kong Stock Exchange in 2024, the company's stock price has surged more than tenfold, solidifying its position as one of the exchange's top performers and attracting significant investor interest.
The office expansion aligns with CEO and chairman Xu Gaoming's ambitious overseas plans, which include opening flagship stores in the United States, Canada, and France by 2027.
The lease comes amid broader industry challenges. China's gold and jewelry consumption dropped by 30% in the first half of 2026, and international gold prices experienced a sharp correction, impacting the company's second-quarter performance. However, Xu remains confident that Laopu will not face earnings pressure. The brand already manages three thriving Hong Kong boutiques, including a flagship store at IFC Central and outlets at Harbour City and Canton Road in Tsim Sha Tsui, which often see long queues of customers.
Alex Lam, executive director and head of Hong Kong Island office services at property consultancy Colliers, noted that HKEX's transition from tenant to owner of its permanent headquarters in April 2024 demonstrated its dedication to Central. Laopu Gold's lease underscores the flight-to-quality trend fueling office leasing in Central.
Prime Central and greater Central office leasing activity grew by 16% this year, outpacing the overall office market's 6.1% growth, according to Cushman & Wakefield data. Occupancy rates at iconic towers such as One IFC and The Henderson Tower have surpassed 90%.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
