Hong Kong’s ‘Cassette King’ sells The Center offices to DBS at discount amid property woes

Quick Summary:

Singapore’s largest banking group paid HK$700 million, or about HK$26,000 per square foot, for the 66th floor of The Center building in Sheung Wan.

The property was handed over on Thursday, according to the local land registry.

Regus Centre (HK) has been the current tenant of level 66 since 2020; its lease is expiring in October 2026.

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Article Details

Author / Journalist: Salina Li

Category: Business

Markets: Hong KongSingapore

Topics: Purchase Group Hong Floors Chan Center 66th Building Property Floor Paid

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-27 @ 19:30:08 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 338 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22750216

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