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Case Study

Citibank Plaza

Citibank Plaza 3 case study

Our Client’s Situation

Citibank Plaza offers the largest Grade A office floor plates in Central. In October 2014, JLL was appointed as the property’s Sole Lead Leasing Agent as part of the rebranding of its 1.2 million sf portfolio, to lease space made vacant by the departure of a number of anchor tenants. This was the largest agency appointment in Central since 2003.​

Our Partnership

Our mandate from Eagle Asset Management was to advance the property’s positioning as a prestigious commercial address and attract top-calibre tenants. 

We created long-term tenant acquisition and retention strategies, and made recommendations on renovations which would make Citibank Plaza more appealing to target tenants. We also revamped Citibank Plaza’s brand and position, produced new marketing collaterals and helped establish a new social media presence for the building. 

Results

JLL achieved huge success: leasing activity at Citibank Plaza was the most active of all office buildings in Central in 2015.  JLL concluded more than 132,000 sf of transactions within 7 months, accounting for over 70% of all new lettings.  Vacancy in the building dropped to approximately 5% by May 2015, its lowest rate since October 2009.  Furthermore, JLL’s expert advice enabled the Landlord to grow rents by approximately 25% in 7 months, exceeding the market.​

For further information on Office Leasing Services, please contact:​ 

Paul Yien
Head of Landlord Representation
+852 2846 5144
paul.yien@ap.jll.com

Adrian Tang
Head of Kowloon Markets
+852 2926 3704
adrian.tang@ap.jll.com​


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