PricewaterhouseCoopers (PwC) may rent every floor of Hongkong Land's new office tower in Central, undeterred by what could be among the highest rent in the city. The accounting giant has been in talks to take all 120,000 square feet of office space, along with naming rights for the Landmark East tower, according to a source. Hongkong Land, Central's biggest landlord, is expected to finish the building at the end of next year. PwC, the largest of the global Big Four accounting firms, has three Hong Kong offices - all in Central - covering about 250,000 sqft. Two of the offices are in Hongkong Land buildings, Prince's Building and Edinburgh Tower, while the other is in Cheung Kong Center. The firm planned to move two of the offices to Landmark East, the source said. However, no deal has been finalised as the companies have yet to agree on rentals. Hongkong Land has been asking prospective tenants for $70 per square foot, a level already achieved at Two IFC. PwC pays about $40 per square foot. Hongkong Land's average rental income in Central last year was $32 per square foot. Hongkong Land and PwC declined to comment on the talks yesterday. The surge in office rental rates shows no signs of abating. Average effective rents in Central rose 15 per cent for the first quarter, compared with the previous quarter, to $38 per square foot, while rents in Wan Chai and Causeway Bay grew 10 per cent to $23 per square foot, according to DTZ Debenham Tie Leung, which forecasts rents in Central to rally at least 30 per cent this year. 'Central has been leading Hong Kong's office rents,' said Desmond Poon Chi-ming, an associate director of Chartersince Surveyors. 'Growing financial market activities have generated solid demand for office space, while the tight supply is sending rents higher and higher.' Riding on the boom in financial market activities, PwC is seeking to upgrade its office space. Last month, Ernst & Young moved into 180,000 sqft in Two IFC from Central's Hutchison House, while Deloitte Touche Tohmatsu will move into 148,000 sqft in Pacific Place 1, from Wing On Centre in Sheung Wan, by June next year. The Landmark East tower is part of Hongkong Land's US$210 million redevelopment scheme of the Landmark complex. The project will convert part of Edinburgh Tower into a luxury boutique hotel, to be managed by Mandarin Oriental Hotel Group.