Manulife signs Hong Kong’s largest office lease deal since 2019

Manulife signs largest office lease deal in Hong Kong since 2019
International Trade Tower (ITT) in Kowloon East

Manulife Hong Kong has signed a lease agreement with private investment firm PAG, the landlord, for approximately 145,000 square feet of Grade A office space at International Trade Tower (ITT) in Kowloon East.

Manulife will be one of the anchor tenants in ITT, occupying a total of four floors.

”This is Hong Kong’s largest Grade A office leasing deal since July 2019 and the largest in Kowloon East since April 2018 in terms of net floor area,” said the company in a statement.

“We are excited to conclude this lease deal as part of our plan to accelerate our agency expansion and further support our continued growth,” said Damien Green, Chief Executive Officer of Manulife Hong Kong and Macau.

“It has been our goal to achieve annual double-digit growth in our agency force to meet increasing customer demand for protection. This also reaffirms Manulife’s long-term commitment to our ambitious growth agenda in Hong Kong and solidifies our leadership in the financial industry,” he added.

“We are very proud to have Manulife – a multinational premium brand with deep roots in Hong Kong, as ITT’s anchor tenant. We believe this best-in-class workspace, in a thriving neighbourhood, will help bolster the wellbeing of Manulife agents and support the company’s future development,” said Claire Chan, Managing Director at PAG. “As major stakeholders in CBD2, we look forward to working with Manulife together in contributing to the sustainable development of this area.”

“As Manulife’s long-term leasing partner, we are delighted to be able to help support their business growth by securing office space in ITT,” said Rhodri James, Vice Chairman, Advisory & Transaction – Office Services, CBRE Hong Kong. “ITT is one of the most sought-after Grade-A buildings in Kowloon East offering high-specification and flexible layouts which will allow Manulife to create a sustainable and future-proof working environment for its agents.”

ITT was completed in 2018. The building is designed to minimize its environmental footprint and maximize the wellbeing of its occupants with its iconic and minimalist visual identity.