UBS Renews Two IFC Lease as Hong Kong’s Central Rents Drop
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UBS AG, Switzerland’s biggest bank, has agreed to extend its lease for almost 205,000 square feet of space at Two International Finance Centre in Hong Kong’s Central business district.
The bank will continue to lease the eight floors it currently occupies in the city’s second-tallest tower until 2019 at an average monthly rent of about HK$106 ($13.70) a square foot, said two people familiar with knowledge of the deal, who asked not to be identified because the information isn’t public. Fiona Chan, a UBS spokeswoman in Hong Kong, confirmed the bank has extended the lease, declining to comment on the details.