Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
HKEX Buys Exchange Square Property in Central for Permanent HQ for $6.3B
Recommend 13 Positive 18 Negative 4 |
||||
|
||||
|
HKEX (00388.HK)'s wholly-owned subsidiary, Aurora, has entered into SPAs with HKL Podium and ONE EXSQ, subsidiaries of Hongkong Land today (24th), to acquire the entire 42nd to 50th floors of One Exchange Square, 8 Connaught Place, Central, as well as Units 101-102 located on the 1st floor and Units 201-202 and Units 204-205 located on the 2nd floor of the podium of Exchange Square, at an aggregate consideration of $6.3 billion, according to HKEX's announcement. The newly acquired premises, with a total saleable area of 147,000 square feet, will be used by HKEX as its headquarters and office, with some of the floors of One Exchange Square currently used as HKEX's office. Completion of the purchase of each Tower One Property is targeted to take place in phases over the next 12 to 18 months following the date of the Tower One SPA. Completion of the purchase of the Podium Property is targeted to take place on or after 1 September 2025. In addition, HKEX has also entered into a new lease in respect of five floors in Two Exchange Square for a term of 9 years today, which HKEX currently occupies as office. The acquisition represents a unique strategic investment opportunity for HKEX to own its permanent office at Exchange Square, reaffirming its long-term commitment to the growth and future development of Hong Kong as a leading global financial center, according to HKEX. The acquisition represents long-term cost savings from rental costs. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
