Hon Kwok shows faith in Central
HON Kwok Land Investment managing director Herman Fung Man-hai says the company's recent acquisition of an office floor in Central indicates its confidence in the outlook for commercial properties in prime business areas.
The property developer, with Manhattan Garments (International), recently paid more than $130 million for the 15th floor of 9 Queen's Road.
The average price for the transaction was pitched at $9,500 per square foot, with a total gross floor area of about 13,600 square feet.
'The price was reasonable under such market sentiment,' Mr Fung said.
He said the company was considering moving its headquarters to its newly acquired properties. Hon Kwok's existing offices are in Swire House, owned by Hongkong Land. The leasing contract there is expected to expire soon.
