Insurance company CMG Asia has signed a six-year lease for up to 168,900 square feet of office space at Wharf (Holdings)' Gateway II development in Tsim Sha Tsui.
It is the largest lease signed in the district in recent years.
The company will accommodate 2,300 insurance agents and back-up staff in Tower 5, to be named 'CMG Asia Tower - The Gateway'.
The lease agreement involves 118,900 sq ft with an option for a further 50,000 sq ft over five floors in the almost completed building.
CMG Asia declined to disclose the rent and the terms of the lease, reported to be about $28 to $29 per square foot with a one-year rent-free period.
Managing director Gary Bennett said the company would consolidate its business in the development as its headquarters.
