The multinational bank has its headquarters in The Center in Central and another major office in One Island East in Quarry Bay. The new Kowloon East hub will address the bank’s business expansion needs and consolidate its middle office operations under one roof. DBS will be relocating to the Two Harbour Square office in phases from the fourth quarter of 2018.
The bank will occupy 3/F to 10/F of Two Harbour Square, a commercial building co-owned by Sun Hung Kai Properties Limited and Wong’s International Holdings Limited. The office floors are from 3/F to 26F. Each floor has an average floor plate of more than 27,000 sq. ft. and enjoys scenic harbor views. As the anchor tenant, DBS will be entitled to use the office building’s LED signage, which faces Victoria Harbour.
Lo King-wai, General Manager, Sun Hung Kai Real Estate Agency Limited, said, ”We are very pleased to welcome DBS, a long-time business partner, to set foot in Two Harbour Square. The new space represents a significant upgrade in size, nearly three times the size of their office in our Millennium City Phase 6. We will continue to work with DBS closely to address the bank’s business needs.”
Darren Nugent, Executive Director, Advisory & Transaction Services - Office, CBRE Hong Kong, said, “CBRE is very excited to be involved in the opening of DBS’s new major hub in Kowloon East. The deal marks the largest office leasing transaction in terms of size in 2018 thus far. It also exemplifies that decentralization continues to be a trend in Hong Kong. Kowloon East has seen robust office leasing demand, with net absorption surging to 355,400 sq. ft. in Q1 2018, more than double the previous quarter. The average office rent in the area rose to HK$31 per sq. ft., up 1.7% QoQ.”
For office leasing enquiries, please contact Darren Nugent, Executive Director, Advisory & Transaction Services - Office, CBRE Hong Kong on +852 9731 5163 or Rocky Chan, Director, Advisory & Transaction Services - Office, CBRE Hong Kong on +852 9480 3942.
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Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.