NWD's Grade-A offices in traditional CBD reach over 90pc occupancy

New World Development (0017) said on Wednesday that its Grade-A offices on Hong Kong Island and in Kowloon saw occupancy rates exceed 90 percent, among which K11 ATELIER Victoria Dockside in Tsim Sha Tsui posted a 99 percent occupancy.

The tenants of K11 ATELIER Victoria Dockside are primarily enterprises in premium wealth management, banking, and insurance, which together account for over 54 percent of the total leased floor area, the developer said.

Among these tenants, a foreign bank has leased more than 130,000 square feet of space for use as its Hong Kong headquarters, it added.

It noted that its New World Tower in Central has also reported an occupancy rate of over 91 percent. 

Besides, its Grade-A office building in Kowloon West, 83 Wing Hong Street, recorded 10 transactions in recent months, generating HK$100 million in sales.

For residential projects, NWD unveiled that The Pavilia Farm III in Tai Wai, co-developed with MTR Corporation (0066), has sold 274 units to date, cashing in about HK$4.5 billion.

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