Latest news with #HysanDevelopment
South China Morning Post
a day ago
- Business
- South China Morning Post
High-end office properties in Causeway Bay to lure major global tenants, JLL says
High-end office assets in Hong Kong's Causeway Bay neighbourhood are expected to draw greater interest from large multinational companies that are seeking to expand in the city, in a boost to the sluggish property market. Following Jane Street Asia's record-setting HK$30.6 million (US$3.9 million) a month lease for a 223,437 square foot space in Henderson Land's New Central Harbourfront project in Central, one veteran deal-maker said Causeway Bay was expected to see Hong Kong's next major office leasing deal. 'Trophy buildings with large floor plates in Causeway Bay will be the new focus of the market and will draw more tenants,' said Paul Yien, the executive director for office leasing advisory at JLL, who has been an agent for 25 years. The area is more well-known for shopping and dining than it is for office space. But Lee Garden Eight, a joint venture between Hysan Development – Causeway Bay's largest commercial landlord – and Chinachem Group was expected to be finished next year. It will feature more than 1 million sq ft of office space and a floor plate that could be as large as 38,000 sq ft, the largest on Hong Kong Island. Yien said he was confident in Causeway Bay because it is vibrant and bustling even on weekends and has a broader mix of tenants. JLL is the main agent for Lee Garden Eight. 'Causeway Bay is much more diverse in terms of tenants,' Yien said. 'In Central it's mostly banking and finance tenants, the hedge funds and private equity firms. In Causeway Bay, there are all sorts of different business sectors: security firms, accountants, lawyers, technology [companies], so we see them clustering there.' In addition, the neighbourhood's retail and dining options run the gamut from affordable to high-end, he said.
Yahoo
17-05-2025
- Business
- Yahoo
Hysan and Chinachem to develop mixed-use commercial project in Causeway Bay
Hysan Development Company and Chinachem Group (CCG) have joined hands to deliver Lee Garden Eight, a mixed-use commercial development in Causeway Bay, Hong Kong. The project is due for completion in the second quarter (Q2) of 2026. Lee Garden Eight, designed by UK-based architecture and design studio Foster + Partners, is set to be a community hub that offers more than 100,000ft² of retail space along with a focus on green, indoor-outdoor spaces. The development comprises 25 storeys in Towers 1 and 2 and 16 storeys in Tower 3, excluding five shared basement levels across all three towers, which house approximately 610 parking spaces equipped with electric vehicle charging facilities. The project will include 60,000ft² of green open space, which connects to the existing Lee Gardens area. The design promotes tree-lined streetscapes, an open market, and a cultural performance area. The development is also set to feature the largest commercial floor plate on Hong Kong Island. The design's green spine, with balconies at every level, is stated to ensure that the building's occupants are placed in a natural environment. The design is claimed to prioritise spatial flexibility, with floor plates reaching up to 39,000ft², allowing for entire organisations to occupy single floors. Lee Garden Eight incorporates a range of sustainable features, including 3.25m-high ceilings and 2.15m-wide electric operable windows to support natural ventilation. More than 50% of the space will receive at least four hours of natural light daily, stated Hysan. These measures are claimed to be part of a broader strategy aimed at reducing carbon emissions throughout the building's life cycle while also enhancing biophilic connections for occupants and promoting biodiversity in the surrounding landscape. Hysan executive director and COO Ricky Lui said: "Lee Garden Eight is the result of a close partnership between our team and Foster + Partners. From the very beginning, there has been a strong alignment in vision - both teams are committed to creating a place that is not only commercially successful but also meaningful to the city's fabric." Chinachem Group executive director and CFO Ricky Tsang said: "As a landmark commercial development in the vibrant heart of Causeway Bay, adhering to the highest green building standards, Lee Garden Eight underscores CCG's dedication to shaping a greener, more liveable Hong Kong for our future generations." "Hysan and Chinachem to develop mixed-use commercial project in Causeway Bay" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
