Retailing, Franchising, and Consumerism Business Intelligence in China

HSBC China Eyes New Headquarters

Sun Hung Kai Properties Group and HSBC have announced that the future Shanghai IFC, an ambitious landmark commercial complex by SHKP, will house HSBC China's headquarters.

Subject to final agreement, applicable laws and regulatory approvals, it is proposed that one of the two high-rise towers of Shanghai IFC be named 'HSBC Building-Shanghai IFC'. It is also expected that HSBC China will occupy 20 office floors of the HSBC Building-Shanghai IFC, taking up a total gross floor area of approximately 53,000 square metres.

Shanghai IFC is at 8 Century Avenue in the heart of the Lujiazui financial center. The integrated complex will contain 400,000 square metres of gross floor area. Shanghai IFC will have twin towers and a lower block. It will provide 210,000 square metres of grade-A offices, two hotels spanning over 90,000 square metres with 656 rooms managed by Ritz-Carlton and W hotels, plus a 100,000-square-metre mall with an array of international retailers. The whole project is scheduled for completion in phases from 2009 to 2010.

Walter Kwok, Chairman and Chief Executive of SHKP, said: "Sun Hung Kai Properties has extensive experience developing large-scale projects that are acknowledged for premium quality. We have gone to great lengths to make Shanghai IFC a world-class example of excellence; employing top-notch architects and designers to work with us on the project. Shanghai IFC will match Hong Kong's tallest building Two IFC in terms of quality and facilities, meeting the most exacting demands of multinational businesses."

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