Lippo Group will use the office tower it is constructing on the former site of Yue King Mansion in Wan Chai as the new headquarters for its life insurance arm, Lippo Protective Life.
Yue King Mansion was one of several buildings bought by Lippo's property arm, Hongkong China, through joint ventures in 1993.
The new 27-storey building under construction at 231-235 Gloucester Road will be named Lippo Protective Tower and should be completed this September.
Lippo Protective will occupy a total of nine floors, accounting for approximately 40 per cent of the property's 82,000 square foot gross floor area.
Hongkong China has a 63 per cent interest in the building, while the other 37 per cent is owned by Pico Far East Holdings.
Established in January 1995, Lippo Protective Life is a joint venture between Lippo Group and Protective Life Corp of the US.