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Hong Kong Office Moves for $700M

HONG KONG—A 21-story class A office buidling, East Tower at One Bay East, was purchased by Citi from Wheelock Properties.

By David Phillips | Updated on June 19, 2014

HONG KONG—CBRE said Thursday that it its participating in the the single largest office tower purchase in the Hong Kong office market, following the agreement for the sale and purchase of the East Tower at One Bay East, in Kowloon East. 

A landmark transaction for the Hong Kong office market, the acquisition will see Citi purchase from Wheelock Properties Ltd., a new 21-story, class A office building comprising 512,000 square feet, together with 2 levels of basement car parking. The deal is valued at $700 million (HK$5.425B).

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