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Finished in 1997 and located in Taikoo Shing at Hong Kong’s Eastern District, the 21-storey Grade-A office tower has a gross floor space of approximately 630,000 sq ft. The purchase amount amounts to an average cost of HK$15,609 psf. The building is attached to Tai Koo MTR Station and Cityplaza shopping mall. Tenants of CityPlaza One comprise financial institutions, insurance providers, and MNCs.
Gaw Capital currently owns and oversees the Arabian CityPlaza Three and CityPlaza Four, along with 625 King’s Road. The company has also obtained 29 neighborhood Hong Kong shopping malls from Link Reit through capital under control. Gaw Capital says it’s going to reposition each one these resources into appealing community hubs.
“After the purchase of parts of CityPlaza Three and CityPlaza Four in 2018 and 625 King’s Road at 2019, we’re thrilled to have signed the sales and purchase agreement for the purchase of CityPlaza One. We view it as a powerful addition to our industrial portfolio at Hong Kong’s Island East District,” says Goodwin Gaw, chairman and managing principal of Gaw Capital Partners.