Artist's impression of Link REIT property, The Quayside. (Photo: Link REIT)Artist's impression of Link REIT property, The Quayside. (Photo: Link REIT)

Hong Kong-listed Link REIT said on 17 November that it has pre-leased about 225,000 square feet of office space at 77 Hoi Bun Road, to J.P. Morgan.

The property, which is located in Kowloon East, is currently under construction, and is expected to come online in 2019.

77 Hoi Bun Road comprises two connected Grade A office buildings, a retail podium with basement car park, and features a maximum gross floor area of 82,116 square metres.

Link REIT has a 60% interest in the development, while Nan Fung Development has a 40% interest.

“We are delighted that our first office complex project in Hong Kong has attracted the tenancy of a multinational financial institution, which signifies J.P. Morgan’s confidence in the development of Kowloon East as well as the long term prospect of Hong Kong as a leading financial centre”, said Donald Choi, CEO of the REIT’s manager, in a statement on the pre-leasing.

“It also reflects Kowloon East’s strong potential as an emerging central business district”, he added.

Units of Link REIT finished the trading day about 2.44% higher from its previous close on the Hong Kong Stock Exchange at HKD52.55.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.