Hongkong Bank will spend about $100 million to upgrade the three towers which it bought earlier this year to house back-office staff at Olympic Station.
The 913,000 square foot complex, for which the bank paid $4.04 billion, or $4,236 per square foot, will now be called HSBC Centre.
Construction of the building was expected to be completed soon, with the handover to the bank scheduled for October or November, according to John Arnold, managing director of the bank's property vehicle, Wayfoong Property.
He said Hongkong Bank would carry out base improvements to the building such as installing raised floors, structured cabling, improved lighting and smoke detector alarms to upgrade the facility.
'We are spending the money in order to get higher specifications,' Mr Arnold said.
Next May, Hongkong Bank is expected to start moving 5,000 employees from 17 back-office locations to the new facility.
Mr Arnold said the timing could not be more perfect as most of the leases in these buildings were due to expire next June and July. Only a few leases ran until 2000 or 2001, and the bank would be discussing possibly surrendering these premises, he said.