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Swire Pacific Limited

Press Release

18th October 1996


For immediate release

Cityplaza One offices ready for leasing in Island East

Swire Properties Ltd. announced today (18th October) the commencement of leasing for Cityplaza One, their latest commercial development in Island East. The 21-storey 600,000 square foot office tower offers Grade A office facilities with average floor areas of between 24,000 and 29,000 square feet.

"Cityplaza One provides an economic solution to the ever more exacting demands made by tenants in a competitive and fast moving business environment," said Stephan Spurr, Director and General Manager of Swire Properties.

The development follows an established and successful formula which combines high quality architectural finishes with state-of-the-art technology. Raised flooring and underfloor trunking organise electrical, telecommunications and data transfer cables, enabling tenants to modify office layout with minimal cost and disturbance as the need arises. The most advanced commercial telecommunications system with fibre optics link-up to any of Hong Kong's Fixed telephone Network Service providers will be available to every tenant.

The prime location of Island East enables tenants of Cityplaza to enjoy swift, direct access to anywhere in the territory. The Island Eastern Corridor, Eastern Harbour Tunnel and MTR are easily accessible from the office tower. In addition to the 2,000 covered public carparking spaces available close by, tenants are well-served by the bus and minibus routes along King's Road and Taikoo Shing Road.

Island East, comprising TaiKoo Place and Taikoo Shing, anchored around the Cityplaza complex, is Hong Kong's fastest growing new commercial hub with a total of 4.4 million square feet of office space at present. This figure will increase to 5.3 million square feet with the completion of Cityplaza One in 1997 and Lincoln House and Oxford House by the end of 1998. Tenants recently acquired by Swire Properties in Island East include BZW Asia Ltd., The Fuji Bank Ltd., G.E. Capital Finance Ltd., Grey Advertising and Philip Morris Asia Inc.

Swire Properties' continuing involvement in Island East drives the ongoing development of the area. The Cityplaza retail centre will be substantially renovated during the next 12 months and there are plans to embellish the immediate surroundings of Cityplaza.

First Pacific Davies and Jones Lang Wootton are appointed leasing agents for Cityplaza One.


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