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Hongkong Land, Hong Kong, Jardines, Commercial property

Hongkong Land, Hong Kong, Jardines, Commercial Property

Hongkong Land sells Jardine House to Link REIT for HK$12.78 billion

Hongkong Land has sold Jardine House, an iconic commercial property in Central, Hong Kong, to Link Real Estate Investment Trust (Link REIT) for HK$12.78 billion (US$1.63 billion).

The sale, which was completed on 30 June 2023, marks the largest commercial property transaction in Hong Kong this year.

Jardine House is a 37-storey Grade A office building

Completed in 1973, Jardine House is a 37-storey Grade A office building with a total gross floor area of approximately 690,000 square feet.

The building is located at 1 Connaught Place in Central, one of Hong Kong's most prestigious business districts.

Jardine House is a key asset in Hongkong Land's portfolio

Jardine House is a key asset in Hongkong Land's portfolio, which includes over 850 properties in Asia, Europe, and North America.

The sale of the property is part of Hongkong Land's strategy to optimize its portfolio and recycle capital into new development projects.

Link REIT is a leading real estate investment trust in Hong Kong

Link REIT is a leading real estate investment trust in Hong Kong, with a portfolio of over 330 properties, including retail malls, car parks, and offices.

The acquisition of Jardine House will further strengthen Link REIT's portfolio and enhance its position as one of the largest commercial landlords in Hong Kong.