UBS marks completion of building in West Kowloon that will house its HK staff
UBS and Sun Hung Kai Properties have held a ceremony marking the completion of a new building that will eventually house all the Swiss bank’s staff in the city.
The 14-storey office tower in West Kowloon will bring the bank’s staff, who are currently spread around the city, under one roof and will also be used to host VIP client meetings.
UBS expects to move into the new building by 2026.
It marked an “exciting new chapter” as the company aimed to concentrate all its business units in one central operation, Sergio Ermotti, group CEO of UBS, said at the topping out ceremony yesterday. Topping out refers to the placement of the final structural beam at the end of construction.
“Hong Kong is a strategic market for UBS in Asia,” Ermotti said. “For six decades we have demonstrated our commitment to the growth of the city and to our clients.”
Currently the firm has five offices spread across the city, including 10 floors covering 300,000 sq ft in Hong Kong’s tallest skyscraper, the 108-storey International Commerce Centre in Kowloon. That space was previously occupied by Credit Suisse, before the two banks merged.
UBS will be the first anchor tenant of the mega project under development on top of the West Kowloon high-speed rail terminus, occupying all 14 floors of tower T2B, which is the closest building to the waterfront.
The tower, one of a pair being developed by Sun Hung Kai Properties (SHKP), will have a rooftop garden and a private lift for clients.
The name of the building will be decided closer to completion, and as the anchor tenant UBS will have naming and signage rights for the tower.
“The excellent location of UBS’ new office underscores our confidence in Hong Kong as an international financial centre,” said Amy Lo, chairman of UBS global wealth management Asia and chief executive of UBS Hong Kong.
The building, designed by Zaha Hadid Architects, is part of a landmark project by SHKP which will offer 2.6 million sq ft of premium office space and some 600,000 sq ft of retail space.
Yesterday’s ceremony also saw the exchange of a green lease agreement, which the companies said would ensure the building met the highest standards of sustainable infrastructure.
“The structure is set to be one of the most sustainable structures in the world and its completion will surely elevate the status of West Kowloon as a thriving business and cultural hub,” Raymond Kwok Ping-luen, SHKP chairman and managing director, said during the ceremony.