| FOR IMMEDIATE RELEASE | 2nd February 2006 |
Swire Properties today (Thursday, 2 February 2006) announced that two anchor tenants of Pacific Place offices -- Deloitte Touche Tohmatsu ("Deloitte") and Société Générale -- have leased additional office space in Three Pacific Place.
Deloitte has taken 20,000 sq ft on L4 and part of L29, while Société Générale has signed up for another 7,500 sq ft on the L19 of the Grade-A office tower.
"We are delighted that Deloitte and Société Générale have expanded their offices in Pacific Place shortly after their commitment last year. It confirms that Three Pacific Place fulfils the growing business needs of the financial and professional services corporations." said Mr Jolyon Culbertson, Director and General Manager of Swire Properties.
Following the leasing of 148,000 sq ft in One Pacific Place in March last year, Deloitte, the leading professional services firm, will now occupy a total of 168,000 sq ft of offices in One and Three Pacific Place. It remains the largest office tenant in the Pacific Place complex. In addition, Société Générale, a leader in financial services in the Euro Zone, has taken up a total of five floors in Three Pacific Place, being the largest tenant in the building.
Mr Kester Yuen, Managing Partner of Deloitte Southern China, said, "Our new office space at One Pacific Place is insufficient to accommodate the continued growth of our Hong Kong operation. We decided to acquire additional office space at Three Pacific Place due to its direct access to our main office, where a well-equipped Learning Centre and internal service departments will be located."
"Three Pacific Place is the ideal address for the business expansion of our regional flagship headquarters," said Mr Xavier Jacquemain, Chief Operating Officer, Asia Pacific of Société Générale. "Our staff will benefit from the hub location and facilities of Pacific Place complex".
Accumulating the two latest transactions and some recent deals, the occupancy rate of Three Pacific Place is approaching 85%, with rents now exceeding $40 psf.
Emphasising building excellence, Swire Offices has created major business hubs in Hong Kong, offering multinational corporations quality facilities, connectivity, environment and services in which to operate.
About Swire Properties
Swire Properties, a wholly-owned subsidiary of Swire Pacific Limited, was incorporated in 1972 and is one of Hong Kong's leading developers with extensive experience in the development and management of major commercial, retail and residential properties. The company's strategy has been to 'hub' its investment property holdings around major shopping centres and office towers constructed at the principal Mass Transit Railway intersections.
Swire Properties' investment portfolio in Hong Kong principally comprises office and retail premises, which it manages in prime locations, as well as serviced apartments and other luxury residential accommodation. The completed portfolio totals just over 12 million sq ft of gross floor area. Current investment property pending or under development in Hong Kong comprises a further 3.26 million sq ft, mainly of office space.
Visit Swire Properties web site at www.swireproperties.com
About Deloitte Touche Tohmatsu
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms, and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organisation of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, Deloitte delivers services in four professional areas - audit, tax, consulting and financial advisory services - and serves more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies. Services are not provided by the Deloitte Touche Tohmatsu Verein, and, for regulatory and other reasons, certain member firms do not provide services in all four professional areas.
As a Swiss Verein (association), neither Deloitte Touche Tohmatsu nor any of its member firms has any liability for each other's acts or omissions. Each of the member firms is a separate and independent legal entity operating under the names "Deloitte", "Deloitte & Touche", "Deloitte Touche Tohmatsu", or other related names.
About Deloitte's China practice
Deloitte's China practice provides services through a number of legal entities and those entities are members of Deloitte Touche Tohmatsu (Swiss Verein).
We are one of the leading professional services providers in the Chinese Mainland, Hong Kong SAR and Macau SAR. We have more than 4,500 people in ten offices including Beijing, Dalian, Guangzhou, Hong Kong, Macau, Nanjing, Shanghai, Shenzhen, Suzhou and Tianjin.
As early as 1917, we opened an office in Shanghai. Backed by our global network, we deliver a full range of audit, tax, consulting and financial advisory services to national, multinational and growth enterprise clients in China.
We have considerable experience in China and have been a significant contributor to the development of China's accounting standards, taxation system and local professional accountants. We also provide services to around one-third of all companies listed on the Stock Exchange of Hong Kong.
For more information, please visit our website at www.deloitte.com/cn.
About Société Générale Corporate & Investment Banking (Société Générale CIB)
Present in over 45 countries across Europe, the Americas and Asia, Société Générale CIB is a reference bank specialising in:
Backed by worldwide expertise and an extensive network in 13 countries in Asia Pacific, Société Générale CIB has built prime investment banking operations to become a leading regional player in derivatives, structured finance and debt capital market. Société Générale CIB combines in Asia Pacific both global and local strengths to provide corporate clients, financial institutions and private investors with value-added integrated financial solutions. Hong Kong is Société Générale's structured finance regional hub and provides leading capabilities in project finance, export finance, syndication, debt capital markets and credit derivatives. Hong Kong is also the major centre for Société Générale's equity derivatives business with market leading warrants and structured products. Société Générale Group also provides a worldwide expertise ranging from equity advisory and M&A to private banking, asset management and futures. www.sgcib.com
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