Point72 Asset Management has increased its planned office space at Hong Kong’s Henderson Tower, underscoring continued demand from financial firms for prime Central district real estate despite ongoing weakness in the broader office market, according to a report by Bloomberg.
The report cites unnamed people familiar with the matter as revealing that the US hedge fund has agreed to take around 85,000 square feet across seven floors at the newly developed skyscraper, up from an earlier commitment of roughly 60,000 square feet. Point72 is expected to move into the space in May and initially plans to sublet part of the office.
The expansion comes as asset managers and private capital firms continue to support leasing activity in top-tier buildings, providing some relief to Hong Kong’s high-end office segment. Occupancy at The Henderson has reached about 90%, helped by demand from financial institutions seeking modern buildings with strong environmental credentials.
While premium properties in Central have seen improving take-up, the wider commercial real estate market remains under pressure. CBRE forecasts office rents across Hong Kong will fall by around 3% this year, reflecting elevated vacancy levels outside the city’s core districts.
Industry observers said softer rental conditions are giving financial firms the opportunity to secure space in prime locations that were previously out of reach. The Henderson’s tenant list already includes major global investors such as Carlyle, CPP Investments, Coller Capital and General Atlantic.
