JP Morgan in talks to lease entire Artist Square Towers in record office deal

JP Morgan is reportedly negotiating to lease the entire Artist Square Towers development in West Kowloon, covering roughly 670,000 square feet, in what could become the largest office lease transaction.

The three-tower complex, being developed and operated by Sun Hung Kai Properties (0016), is under construction and scheduled for completion by mid-2026.

JP Morgan is said to be planning to consolidate its existing offices in Central and Kwun Tong into the new site.

Both JP Morgan and Sun Hung Kai Properties declined to comment.

The development comprises approximately 65,000 square meters of office space and an additional 2,500 sq m for retail use.

Market observers said such a lease would rank among the largest ever in Hong Kong’s office market.

Despite a generally subdued leasing environment, new landmark Grade-A buildings have continued to attract demand from financial institutions. In June, trading firm Jane Street leased space at Henderson Land Development's (0012) New Central Harbourfront project.

Industry watchers noted that while Hong Kong’s broader economy remains modest, its financial sector continues to show strength, with initial public offering fundraising leading globally and investment and wealth management activities remaining robust.

STAFF REPORTER