Credit Agricole CIB has renewed its lease for 85,000 sq ft of prime office space at Pacific Place in Admiralty, extending its tenancy until 2034, according to landlord Swire Properties.
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The renewal would continue a partnership spanning more than two decades, Swire Properties, one of Hong Kong’s largest commercial landlords, said in a statement on Monday. The premises – four floors at Two Pacific Place – serve as the French banking giant’s Asia-Pacific headquarters.
“Pacific Place has been our home in Hong Kong and the regional headquarters for over 20 years,” said Jean-Francois Deroche, senior regional officer for Asia-Pacific at the bank. “It has been precisely where our teams collaborate, succeed and thrive together, alongside our local clients and partners.”
Deroche said the renewal “not only strengthens this ‘foundation’ for the next decade, [but] also shows our commitment to the city’s long-term development”.
Credit Agricole Group marked its 130th anniversary in the city last year.
“We are delighted to renew our long-standing partnership with Credit Agricole CIB, reaffirming Pacific Place’s status as a world-class business address in Hong Kong,” said Tim Blackburn, CEO of Swire Properties. “Under Swire Properties’ HK$100 billion [US$12.9 billion] investment plan, we are committed to enhancing our core portfolios in Hong Kong, including Pacific Place, to support the city’s long-term development as a global financial centre.”
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