HSBC China headquarters to move to new building in Shanghai IFC - SHKP’s new Pudong landmark
Sun Hung Kai Properties Group (SHKP) and HSBC today announced that the future Shanghai IFC, an ambitious landmark commercial complex by SHKP, will house HSBC China’s headquarters. The move demonstrates the confidence of both companies in the Chinese economy.
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 centre. 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.
Stephen Green, Group Chairman of HSBC Holdings plc, said: “This investment will further demonstrate our long-term commitment to China and our great confidence in Shanghai’s future prospects. As our China headquarters, HSBC Building-Shanghai IFC will support the bank’s plans for expansion across the country. 2007 has already been a landmark year for HSBC, with our incorporation in China earlier this year and the offer of renminbi services for its citizens. We have been very impressed with SHKP for creating this world class addition to Shanghai’s skyline.”
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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