The International Commerce Centre is rising prominently on the waterfront of West Kowloon as a new landmark that will make the skyline of Hong Kong even more spectacular.
At 490 metres above sea level, the 118-storey ICC Tower will be the third-tallest building in the world and the tallest structure in Hong Kong on completion in 2010. The tower is being constructed in phases and occupancy is expected to begin as early as February 2008 when the lower floors will be ready.
The mega tower will provide 2.5million sqft of office space and is expected to become a sought-after address for local and international businesses looking for grade-A premises with some of the highest quality building specifications and facilities.
Victor Lui Ting, executive director of Sun Hung Kai Real Estate Agency, subsidiary of the project's developer Sun Hung Kai Properties (SHKP), said the leasing response for the first two phases of the development had been very positive with strong demand from prospective tenants.
He expected the ICC to attract many occupiers looking for large space, including investment banks, multinational companies, financial institutions and professional firms. Morgan Stanley has committed to leasing 10 floors and will move its Hong Kong-based Asia-Pacific headquarters to the ICC at the end of next year.
'Many financial institutions are considering relocating their headquarters from Hong Kong Island to Kowloon. The Central business district is mainly characterised by aged buildings and there is a lack of quality office premises available for lease,' Mr Lui said. 'New buildings with good specifications and facilities are tempting to companies in need of expansion. Rental is not a big factor in relation to the overall operating cost for first-class tenants. What's crucial is that we provide new office premises with top-class facilities to cater for the needs of business expansion.