PAG, an Asia-focused alternative investment firm, has announced that its Manulife Place office building in Kowloon East has reached nearly 95% occupancy. This achievement follows new leases with three major corporate occupiers, totaling approximately 72,000 square feet. The transactions highlight the property’s appeal and Kowloon East’s growing significance as a business hub.
Manulife Place’s occupancy significantly outpaces the broader Kowloon East market, which averages around 80%. The building’s success is attributed to its high-quality, well-connected office space, and PAG’s innovative turnkey solutions. A US-headquartered consumer products company has leased approximately 36,000 square feet to consolidate and upgrade its office. Additionally, a Hong Kong conglomerate and Pacific Prime, an international insurance brokerage, each leased around 18,000 square feet, adopting PAG’s turnkey solutions to enhance their workplaces.
Paul Tam, Director of Leasing and Operations at PAG, stated, “These leasing decisions are a strong vote of confidence in Manulife Place and Kowloon East’s role as a long-term business hub.” Dick Tse, Senior Director of Office Leasing Advisory at JLL, added that the completion of the Central Kowloon Bypass has significantly improved regional connectivity, reduced travel times, and enhanced the building’s strategic location.
Manulife Place continues to attract multinational corporations and professional services firms seeking efficient floor plans, quality amenities, and strong accessibility. Its turnkey offering allows occupiers to upgrade or consolidate their offices with less complexity and greater cost efficiency.
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