Henderson Land Development Company has secured a significant tenant for its New Central Harbour project in Hong Kong, leasing six office floors to US quantitative trading firm Jane Street. This move marks a milestone as it represents the largest single office leasing transaction in Hong Kong’s Central Business District in decades.
If you’re following the commercial real estate market, you’ll recognize the importance of such a deal in a city known for its challenges and changing dynamics.
Jane Street will occupy approximately 70% of the first phase office space available in the New Central Harbour project. The lease involves a total of 223,437 square feet and comes with a monthly rent of HK$137 (around $22.40) per square foot. This amounts to approximately HKD$30.6 million monthly—a significant investment that underscores the firm’s commitment to establishing a strong presence in Hong Kong.
As someone interested in the commercial real estate sector, you can appreciate how this deal not only benefits Henderson Land but also signals confidence in the Hong Kong market.
The New Central Harbour project itself is an ambitious development, boasting over 1.6 million square feet of gross floor area. Of that, 700,000 square feet is dedicated to office space, making it a prime location for businesses looking to expand or relocate in the city.
The first phase of this project is expected to be completed by the fourth quarter of 2026, setting the stage for what could be a significant transformation of the area. If you’re a business owner or investor, knowing that large firms like Jane Street are committing to such spaces might encourage you to consider similar moves in the future.
The lease agreement with Jane Street highlights the ongoing demand for office space in Hong Kong, even amid fluctuations in the global economy. It reflects the resilience of the city’s commercial real estate sector, which has often weathered storms that would challenge other markets.
As you analyze these trends, it’s clear that businesses still see value in establishing themselves in one of Asia’s most vibrant financial hubs.
In a time when many are questioning the future of office spaces due to remote work and changing work paradigms, Jane Street’s lease serves as a sign of stability and confidence. The firm’s choice to secure six floors in such a prominent development could inspire other companies to follow suit, potentially leading to more leasing transactions in the near future.
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News Source: Edgeprop
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