Sun Hung Kai Properties (SHKP) is aggressively expanding its office leasing portfolio across Hong Kong to cater for the growing requirements of business operations from different sectors and industries.
Janet Ho Kar-yee, assistant manager of business development with SHKP's subsidiary Sun Hung Kai Real Estate Agency, said the group had a strong office leasing presence with more than seven million sq ft of office premises. 'Our portfolio will expand to more than 10 million sq ft by 2010 with the completion of new projects such as the International Commerce Centre (ICC) in Kowloon Station, which provides a total of 2.5 million sq ft, and a new development in Kwai Chung near Kwai Hing MTR Station,' she said.
Ms Ho said the office leasing operation had recorded steady rental growth and contributed about 25 per cent of the group's total gross rental revenue of HK$7.21 billion for the year ended June 30, 2007. The rental income for the office leasing division registered growth of about 16 per cent.
The group's office properties spread from Hong Kong Island to Kowloon and the New Territories, ranging from One IFC and Two IFC in Central to Sun Hung Kai Centre in Wan Chai, World Trade Centre in Causeway Bay, Millennium City in Kwun Tong, Grand Century Place in Mong Kok, New Town Tower in Sha Tin, Metroplaza in Kwai Chung and Landmark North in Sheung Shui.
Ms Ho said its properties achieved rents in line with the market rates in different locations and catered to the needs of a wide spectrum of tenants.
'We have different kinds of tenants in different districts,' she said. 'For instance, financial institutions account for the majority of tenants in One IFC and Two IFC, while most of the tenants in our Kwun Tong and Kwai Chung properties are from trading and other industries.'
'Our Millennium City office towers in Kwun Tong have also absorbed some of the banks consolidating their back-office operations there.'