John Swire & Sons Ltd.

06/14/2024 | Press release | Distributed by Public on 06/14/2024 05:21

Deloitte China Renews 10-Year Lease with Swire Properties as Anchor Tenant of One Pacific Place in Hong Kong

Deloitte China and Swire Properties today announced that they have signed a 10-year lease for the professional services firm's Hong Kong office at One Pacific Place. This marks a key milestone in the strategic, long-term partnership between the two companies that began in 2006, signalling the start of a new decade of excellence to promote sustainability and a shared optimism for Hong Kong's future as a premier business destination.

The signing ceremony was officiated by Tim Blackburn, Chief Executive of Swire Properties; Fanny Lung, Director, Finance of Swire Properties; Don Taylor, Director, Office of Swire Properties; Patrick Tsang, Deloitte China CEO; Thomas Chung, Deloitte China COO; and Edward Au, Deloitte China Southern Region Managing Partner. As the largest office tenant in Pacific Place, Deloitte China has occupied the high zone of One Pacific Place since 2006, covering approximately 125,200 square feet on six floors from 35/F to 40/F, accounting for about 20% of the office tower's total space.

Tim Blackburn, Chief Executive of Swire Properties, says, "We are delighted that Deloitte has decided to renew at One Pacific Place, within our flagship mixed-use development. Under our HKD100 billion investment plan, we are committed to upgrading and expanding our core properties, including Pacific Place, to support Hong Kong's long-term development. Hong Kong has all the fundamentals of a global financial centre and, with the prospects presented by the Greater Bay Area, we are confident that the city will continue to thrive in the future. We will continue to play our part in ensuring that Hong Kong remains competitive by investing in world-class commercial developments such as Pacific Place and Taikoo Place."

Deloitte China CEO Patrick Tsang says, "As a globally connected and deeply locally-rooted professional services organisation, we have always been committed to Hong Kong, which is a strategic market for Deloitte and one of our three biggest offices in China. For more than half a century, we have grown together with the city, almost doubling our headcount to more than 3,000 today from around 1,600 people when we moved our office to One Pacific Place almost 20 years ago.

"Building on our successful partnership with Swire Properties over the years, we are delighted to celebrate a new chapter of our firm's Hong Kong home in the core business district of Admiralty. This important investment demonstrates our confidence in Hong Kong's continued growth and success as an international financial centre, which offers an excellent base for us to serve our clients globally and across the region."

Deloitte China has four offices in Hong Kong, with its primary office located at One Pacific Place, bringing under one roof the firm's front-office business units including audit and assurance, tax and business advisory as well as consulting businesses. Supported by premium amenities and superb connectivity located above the Admiralty MTR super-interchange station, the office offers a flexible workspace that enhances team collaboration and talent experience, with a focus on promoting the values of "Development, Caring, Happiness, and Inclusion" as part of the firm's employee value proposition.

Deloitte was one of the first office tenants in Swire Properties' portfolio to commit to the Green Performance Pledge (GPP) - a proprietary initiative by Swire Properties to support tenants to incorporate the best sustainability practices in their office operations. The GPP offers tenants seamless access to a variety of smart solutions to reduce power consumption, water usage and waste through a dedicated tenant portal, providing them with ongoing support from Swire Properties' technical and sustainability professionals as well as experience sharing with other tenants who have signed up to the GPP. To deepen the partnership on the ESG front, Deloitte China has also incorporated a green clause into its lease.

Deloitte China Southern Region Managing Partner Edward Au says, "Driven by our commitment to Hong Kong, we launched the INspire HK initiative in 2021 to double down on the growth of our Hong Kong practice through a HKD1 billion strategic investment into strengthening our multidisciplinary services and integrated value propositions, with sustainability as one of the five key focus areas.

"Our shared vision for promoting sustainable and prosperous development in Hong Kong and the Chinese Mainland provides a foundation for exciting collaborations between Swire Properties and Deloitte China, including the launch of 'The Loop at One Pacific Place' at the 50th anniversary of both companies two years ago, while our partnership on the 'Green Performance Pledge' also supports Deloitte's WorldClimate global strategy. We look forward to strengthening our long-standing and successful relationship with Swire Properties and exploring new avenues of opportunity to work together and contribute to our city's long-term prosperity."

Don Taylor, Director, Office at Swire Properties, says, "Pacific Place is the perfect example of what a world-class office portfolio should provide in terms of an unparalleled location, versatile spaces, industry-leading ESG certifications and tenant collaboration as well as advanced smart infrastructure. In addition to hosting a wide range of tenant engagement programmes to enhance the overall client experience, we are committed to supporting our tenants to achieve their sustainability goals. We are excited by Deloitte China's commitment to our Green Performance Pledge and look forward to further collaborations on sustainability and across other areas in the years ahead."

One Pacific Place has attained the highest platinum ratings in major global green building certifications, including BEAM Plus, LEED, and WiredScore - a global benchmark for digital connectivity in property development. The building is also expected to receive a WELL accreditation this summer.

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About Deloitte China

Deloitte China provides integrated professional services, with our long-term commitment to be a leading contributor to China's reform, opening-up and economic development. We are a globally connected firm with deep roots locally, owned by our partners in China. With over 20,000 professionals across 31 Chinese cities, we provide our clients with a one-stop shop offering world-leading audit, tax and consulting services.

We serve with integrity, uphold quality and strive to innovate. With our professional excellence, insight across industries, and intelligent technology solutions, we help clients and partners from many sectors seize opportunities, tackle challenges and attain world-class, high-quality development goals.

The Deloitte brand originated in 1845, and its name in Chinese (德勤) denotes integrity, diligence and excellence. Deloitte's global professional network of member firms now spans more than 150 countries and territories. Through our mission to make an impact that matters, we help reinforce public trust in capital markets, enable clients to transform and thrive, empower talents to be future-ready, and lead the way toward a stronger economy, a more equitable society and a sustainable world.

About Deloitte

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities (collectively, the "Deloitte organization"). DTTL (also referred to as "Deloitte Global") and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients.

Deloitte Asia Pacific Limited is a company limited by guarantee and a member firm of DTTL. Members of Deloitte Asia Pacific Limited and their related entities, each of which are separate and independent legal entities, provide services from more than 100 cities across the region.

Please see www.deloitte.com/about to learn more.

Disclaimer

This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms or their related entities (collectively, the "Deloitte organization") is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser.

No representations, warranties or undertakings (express or implied) are given as to the accuracy or completeness of the information in this communication, and none of DTTL, its member firms, related entities, employees or agents shall be liable or responsible for any loss or damage whatsoever arising directly or indirectly in connection with any person relying on this communication. DTTL and each of its member firms, and their related entities, are legally separate and independent entities.

© 2024. For more information, please contact Deloitte China.

About Swire Properties

Swire Properties develops and manages commercial, retail, hotel, and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections. Swire Properties is listed on the Main Board of the Stock Exchange of Hong Kong and its investment portfolio in Hong Kong comprises Taikoo Place, Pacific Place, Cityplaza, Citygate Outlets. The Company's completed portfolio in Hong Kong comprises approximately 16.5 million sq ft (approximately 1.54 million sqm) of space.

In the Chinese Mainland, Swire Properties has six completed mixed-use developments in Beijing, Shanghai, Guangzhou and Chengdu. They include Taikoo Li Sanlitun and INDIGO in Beijing, HKRI Taikoo Hui and Taikoo Li Qiantan in Shanghai, Taikoo Hui Guangzhou and Taikoo Li Chengdu. INDIGO Phase Two in Beijing, Taikoo Li Xi'an, two new, mixed-use projects in Shanghai and a new retail project in Sanya are currently under development. The Company's completed portfolio in the Chinese Mainland comprises approximately 14.1 million sq ft (approximately 1.31 million sqm) of space.

In addition to Hong Kong and the Chinese Mainland, the Company has investments in the United States, Indonesia, Vietnam and Thailand.

Visit Swire Properties' website at www.swireproperties.com