COMMERCIAL PROPERTY | Staff Reporter, Hong Kong

Kowloon office already 70% leased even before April opening

Rents are $85/sqf monthly but early bird tenants received discounts.

Bloomberg reports that New World Development Co. said that the office component of the HK$20.3 billion ($2.6 billion) Victoria Dockside complex in Kowloon is already 70 percent leased, and will be fully rented by March or April when the entire building opens.

Tenants include Mizuho Bank Ltd., which leased six floors and moved into the building named K11 Atelier in October, relocating from Pacific Place on Hong Kong island.

Rents in the building are about HK$85 per square foot a month, according to realtor Prime Property, though “early bird” tenants including Mizuho and Taipei Fubon Commercial Bank Co. got lower rates, Adrian Cheng, K11 founder and executive vice chairman and general manager of New World, said in an interview.

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