PAG's Manulife Place hits 95% occupancy on new leases

Three corporate tenants leased approximately 72,000 sq ft of office space.

PAG-owned Manulife Place in Kowloon East has reached nearly 95% occupancy following the signing of approximately 72,000 sq ft of new leases by three corporate tenants.

In a joint statement with JLL, PAG said a US-headquartered consumer products company leased approximately 36,000 sq ft to consolidate and upgrade its office, whilst a Hong Kong conglomerate took up around 18,000 sq ft.

Hong Kong-headquartered insurance brokerage Pacific Prime also leased approximately 18,000 sq ft to upgrade and consolidate its office.

The building's occupancy rate exceeded the broader Kowloon East office market average of around 80%, the investment firm added.

Meanwhile, JLL said the completion of the Central Kowloon Bypass has reduced travel times between West and East Kowloon to approximately 10 minutes, from the previous 20 to 25 minutes.