Source:
https://scmp.com/property/hong-kong-china/article/1510169/asian-banks-snap-prime-office-space-centralHong Kong & China
Asian banks snap up prime office space in Central
Desire to expand in financial district not shared by Western rivals, who have been moving out
Christine Ip said UOB's expansion in Central demonstrated the bank's long-term commitment to Hong Kong. Photo: Felix Wong
Capital-rich Asian banks, in particular some state-owned mainland firms, have emerged as prime contenders for top-end office space in the heart of Hong Kong's financial district, replacing some Western banks on tight budgets that are keen to cut costs.
Singapore's United Overseas Bank (UOB) recently signed a new lease to occupy more than 30,000 sq ft in Citibank Plaza at 3 Garden Road in Central, one of the biggest office complexes in the city, according to property agents familiar with the deal. The floor to be taken by UOB used to be office space for a major American bank in Hong Kong.