Real Estate
DBS Expands Hong Kong Office Presence With "Significant" Deal
As a result of the transaction, DBS will own 14 floors of a major office block in Hong Kong's Central district.
DBS Bank (Hong
Kong) is proposing to make a “significant” investment in Hong
Kong’s property sector, buying six additional office floors at
The Center in Central Hong Kong – its largest commercial property
deal in the city this year so far.
The floor space, in gross terms, is worth HK$2.619 billion ($330
million), DBS said in a statement this week.
The purchase will give DBS 14 floors of The Centre – a
major office block.
“This proposed investment underscores our unwavering commitment
to Hong Kong and our confidence in its long-term economic
vitality as a premier international financial centre and wealth
management hub,” Sebastian Paredes, head of North Asia and CEO of
DBS Hong Kong, said.