Manulife (International) Limited, a member of the Manulife group of companies, announced that it had completed the purchase of a new 21-story office building in Hong Kong's new Central Business District. The tower, dubbed the Manulife Tower, was developed by Wheelock Properties, the subsidiary of Wheelock and Company Limited of Hong Kong. Wheelock and Manulife signed a sale-and-purchase agreement in 2013 for HK$4.5 billion, which marked the largest single office tower purchase in Kowloon.
"We are very pleased to see the completion of the purchase of Manulife Tower, which is our brand new flagship building in Hong Kong," said Roy Gori, President and CEO at Manulife Asia. "Nestled in the heart of Hong Kong's new premier Central Business District, our investment in Manulife Tower is a testament to our long-term commitment to the region and Hong Kong where our regional hub is based. Manulife Tower also provides us the flexibility to meet the needs of our business growth in Asia."
Located at 83 Hoi Bun Road, Kowloon East, the Manulife Tower will serve as the office of some of the company's regional and Hong Kong operations, and also the majority of its agency offices. Other Manulife offices continue to be located in Causeway Bay and Kwun Tong. Manulife is expected to take occupancy of Manulife Tower by end of 2015.
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