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.' She said Hong Kong's economic growth had provided solid support to the local office leasing market, while business organisations, especially those in the financial service sector, expanded. SHKP had been building up its office portfolio to tap the opportunities of the leasing market, she said. One IFC was completed in 1998 while Two IFC came on to the market in 2003. In addition, the first phase of ICC, comprising about 900,000 sq ft of space, will be ready for occupation at the end of this year. Morgan Stanley has signed a deal to lease 10 floors at the 118-storey skyscraper. SHKP, one of the largest office landlords in Hong Kong, launched a new brand strategy last year with the introduction of its 'BIZ Office Leasing' identity to raise its profile. Ms Ho said the brand strategy was intended to highlight the group's strong presence in the leasing sector and the appeal of its properties to a broad base of tenants. In addition to the design and construction of quality office properties, she said SHKP was committed to providing professional services and value-added building facilities to meet tenants' needs. 'For example, we have incorporated innovative features into our new project Millennium City 6 in Kwun Tong such as a roof garden for all tenants' enjoyment and leisure, and a private garden for use by individual tenants and duplex offices,' Ms Ho said. In the mainland, SHKP is also developing new projects for office leasing. Its existing properties include Shanghai Central Plaza and Beijing apm. Two new projects are under way in Shanghai - Shanghai IFC and the Huai Hai Zhong Road complex development. Ms Ho said the Shanghai IFC project would include hotels, serviced apartments, offices and a one million sq ft shopping mall. The first phase of the two planned office towers is scheduled for completion in 2009. The Huai Hai Zhong Road project is expected to provide about 1.3 million sq ft of office space on completion in 2010.