Manulife Hong Kong has signed a lease agreement for approximately 145,000 square feet of Grade A office space at International Trade Tower (ITT) in Kowloon East, Hong Kong's largest Grade A office leasing deal since July 2019 and the largest in Kowloon East since April 2018 in terms of net floor area.
The lease agreement, signed with the landlord, private investment firm PAG, forms part of Manulife's agency growth plans. Manulife will be one of the anchor tenants in ITT, occupying a total of four floors.
Manulife has expanded its agency force significantly in recent years and its hiring spree is ongoing. It had 10,706 agents in Hong Kong at the end of 2020, having more than doubled its agency size during the past decade.
ITT will become Manulife's fourth Grade A office in Kowloon East. Manulife Hong Kong has been based in the Manulife Financial Centre since 2009. It acquired the Manulife Tower in 2013 and expanded its agency offices to The Quayside in 2020. These four working hubs together make the company one of the largest employers in Kowloon East.