Henderson Land Development Company has secured a significant leasing agreement, renting six office floors to US quantitative trading firm Jane Street in Hong Kong’s Central Business District. This transaction marks the largest single office leasing agreement in the area in decades, underscoring the ongoing appeal of Hong Kong as a hub for international businesses.
With Jane Street set to occupy a substantial 223,437 square feet of office space, this agreement constitutes approximately 70% of the available office space in the first phase of the New Central Harbour development.
The financial details of the lease reflect the premium nature of the space being rented. The monthly rent is established at HK$137 per square foot, which equates to approximately HK$30.6 million per month. This figure not only highlights the attractiveness of the location but also signifies a robust demand for office space, particularly from firms involved in high-stakes trading and finance.
Jane Street’s decision to occupy a significant portion of this new development speaks to the firm’s confidence in the Hong Kong market and its strategic importance in the global financial landscape.
Henderson Land’s New Central Harbour project is ambitious, featuring over 1.6 million square feet of gross floor area. The development is expected to be completed in phases, with the first phase projected to be ready by the fourth quarter of 2026.
The scale of this project is indicative of Henderson Land’s commitment to investing in premium commercial real estate within one of the world’s most dynamic business districts. The successful leasing of significant office space to a prestigious tenant like Jane Street not only enhances the project’s profile but also signals a recovery and resilience in Hong Kong’s commercial real estate sector.
The implications of this leasing agreement extend beyond the immediate financial aspects. It reflects a broader trend of increasing demand for quality office space in Hong Kong, particularly as firms reassess their needs in a post-pandemic world.
As businesses adapt to changing work environments, including hybrid models, the demand for strategically located office spaces is expected to grow. This agreement with Jane Street positions Henderson Land favorably in a competitive market, emphasizing the desirability of its developments.
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News Source: Edgeprop
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