Sun Hung Kai Properties (SHKP) will increase the rental for its soon-to-be released 160,000 square feet Millennium City Three in Kwun Tong by 10 per cent in view of short supply in the area. Investment manager Victor Lui Ting said SHKP would offer Millennium City Three for lease in the second half at HK$22 per square foot, up from HK$20 per square foot achieved at the phase two development last month. He said the decision to mark up the rental at phase three came after strong demand for quality commercial space in the area. He expected rental in the area to rise 30 per cent in 12 months. Yesterday Millennium City Two announced that it had attained Jardine Onesolution as an anchor tenant. The building is to be named JOS Tower. Jardine Onesolution chief executive Steve Lo said the company leased 40,000 sq ft at Millennium City Two at below HK$20 per square foot after taking 160,000 sq ft at phase one in 1998.