11 Skies See Deluge Of Enquiries From Aspiring Tenants

Office Bldgs In 11 Skies See Deluge Of Enquiries From Aspiring Tenants

HONG KONG – Three newly-built office blocks within the 11 Skies mega project near the Hong Kong International Airport have piqued the interest of many would-be tenants, amidst talks to fully reopen borders with mainland China, reported The South China Morning Post (SCMP) on Tuesday evening (30 August, SGT).

The Grade A office towers with a height of seven storeys have a gross floor area (GFA) of about 570,000 sq ft, and office unit sizes there measure between 1,696 sq ft and 33,868 sq ft.

The commercial properties are being overseen by K11 Group, a division of New World Group responsible for project management. Notably, New World Group was awarded in 2018 the contract to build the 11 Skies integrated project. At the same time, it also secured the right to manage the development.

On Tuesday, a K11 Group spokesperson said that they think interest from would-be office tenants recently increased due to talks between Hong Kong and mainland China regarding the full border reopening. Another reason is the introduction of the “3+4” travel plan, which slashed the hotel quarantine period for inbound travellers to Hong Kong to three days, with an additional four days under medical surveillance.

“The market has a positive response to the project,” said the spokesperson, adding that 11 Skies “will become a one-stop professional service hub for mainland and international customers.”

Situated near the Hong Kong-Zhuhai-Macau Bridge, the new office buildings have been marketed to medical services firms, wealth management companies, and businesses with cross-border operations.

In addition, the commercial properties will come with 14 multipurpose stores spanning 200,000 sq ft that will accommodate shops and back office spaces.

Notably, many tenants have already committed to lease commercial and office spaces in the three buildings and they are poised to move in later this year. These include over 20 global and regional companies, such as Citibank, Standard Chartered, Bank of China’s Hong Kong branch, EC Healthcare, and Trinity Health Enterprise.

By the end of this year, the three office blocks are forecasted to be 65 percent occupied.

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