COMMERCIAL PROPERTY | Staff Reporter, Hong Kong

Manulife signs biggest Grade A office leasing deal since 2019

The lease agreement is for a 145,000 square feet of Grade A office space in Kowloon East.

Manulife Hong Kong has signed a lease agreement for approximately 145,000 square feet of Grade A office space at International Trade Tower (ITT) in Kowloon East, the largest office leasing deal in the country since July 2019.

The lease agreement, signed with the landlord, private investment firm PAG, forms part of Manulife’s agency growth plans. Manulife will be one of the anchor tenants in ITT, occupying a total of four floors. Manulife has expanded its agency force significantly in recent years and its hiring spree is ongoing. It had 10,706 agents in Hong Kong at the end of 2020, having more than doubled its agency size during the past decade.

According to Manulife, ITT will become its fourth Grade A office in Kowloon East.

“We are excited to conclude this lease deal as part of our plan to accelerate our agency expansion and further support our continued growth. It has been our goal to achieve annual double-digit growth in our agency force to meet increasing customer demand for protection. This also reaffirms Manulife’s long-term commitment to our ambitious growth agenda in Hong Kong and solidifies our leadership in the financial industry,” Damien Green, chief executive officer of Manulife Hong Kong and Macau said.

ITT was completed in 2018. The building is designed to minimize its environmental footprint and maximize the wellbeing of its occupants with its iconic and minimalist visual identity.

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