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Link REIT, Nan Fung JV to develop Hong Kong harborfront tower

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Link REIT, Nan Fung JV to develop Hong Kong harborfront tower

A Link REIT and Nan Fung Group joint venture has plans to develop a grade A commercial building in Hong Kong's Kowloon East business district, an area that is seeing more multinational financial institutions moving in.

The Quayside tower will comprise 23 floors with a lettable area upwards of 900,000 square feet. Of this, office facilities will take up 50,000 square feet of space on each floor, while about 23,000 square feet will be allocated to a podium garden and recreational amenities. The development will also include a three-story retail element.

The joint venture has already secured J.P. Morgan as a future tenant, with the investment bank looking to take up more than 220,000 square feet of office space at The Quayside building.

In a joint release, the duo added that the tower would be "the most electric-car friendly building" in the special administrative region, with 400 parking spaces containing electric vehicle chargers spread over three floors of underground parking lots.

The partners expect to complete the development of The Quayside in 2019.