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News Release


JLL Achieves Impressive Leasing Results at Citibank Plaza

Net take-up over 180,000 square feet

Hong Kong, 15 JUN 2015 - Citibank Plaza, the twin-tower Grade A development in the Central district of Hong Kong owned by Champion REIT, anchoring some of the world's most prestigious financial institutions, has recorded a number of high-profile leases since the appointment of JLL as Sole Lead Leasing Agent for the property in October 2014. The successful leasing activity since the appointment, the largest agency appointment in Central in the past decade, cements JLL's dominant position in the Hong Kong commercial leasing market.

Located at 3 Garden Road, Citibank Plaza borders Hong Kong Park, Cheung Kong Center and the iconic Bank of China Tower, and is among the most prestigious commercial addresses in Central. Comprising the 50-storey Citibank Tower and 40-storey ICBC Tower, the 1.2 million square feet Citibank Plaza, offering the largest floor plate along Hong Kong Island of over 32,000 square feet, is headquarters to some of the largest multi-national companies in the world.

In the seven months after its appointment, JLL concluded numerous sizeable transactions with a multinational financial firm (67,000 sq ft), a financial media firm (33,500 sq ft) and China's largest privately owned conglomerate (17,000 sq ft) etc. The total transaction volume in terms of square footage was over 180,000 sq ft which is the highest net take-up all over Hong Kong during the same period, making the occupancy rate of the building over 95%.

Paul Yien, Regional Director of Markets at JLL, said, "The building is situated in the core area of Central. Boasting the unique design and modern amenities, the building has attracted the attention of a large number of tenants. JLL also drove the strong leasing activity at Citibank Plaza which further demonstrates what sets JLL apart from its peers. Leasing activity in Citibank Plaza was the most active among all office buildings in Central since October last year,"

"JLL's latest research shows the vacancy rate in Central has declined to 2.35% at the end of May, thanks to the increasing demand from the banking and finance institutions. We believe the vacancy rate in Central will stay at a low level, driving the office rents to rise further and the leasing of Citibank Plaza will continue to benefit from it," he added.

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