Manulife completes purchase of Manulife Tower
Hong Kong — Manulife (International) Limited today announced it has completed the purchase of Manulife Tower. Developed by Wheelock Properties, the 21-storey building is located at 83 Hoi Bun Road, Kowloon East, in Hong Kong’s new Central Business District.
“We are very pleased to see the completion of the purchase of Manulife Tower, which is our brand new flagship building in Hong Kong,” said Roy Gori, President and CEO at Manulife Asia. “Nestled in the heart of Hong Kong’s new premier Central Business District, our investment in Manulife Tower is a testament to our long-term commitment to the region and Hong Kong where our regional hub is based. Manulife Tower also provides us the flexibility to meet the needs of our business growth in Asia.”
Manulife will take occupancy of Manulife Tower by end of 2015. The new building will serve as the office of some of the company’s regional and Hong Kong operations, and also the majority of its agency offices. Other Manulife offices continue to be located in Causeway Bay and Kwun Tong.
“Manulife Tower is a world class development that we’re proud to add to our global real estate investment portfolio. Through strategic acquisitions, we’ve grown to over 1.3 million square feet of real estate across Asia,” said Kevin Adolphe, President and CEO of Manulife Real Estate. “Manulife Tower, at more than 500,000 square feet, and with state-of-the-art technologies, is one of our finest office buildings in the region.”
“Manulife Tower is a brand-new Grade A office building located in the emerging business hub of Kowloon East,” said Michael Huddart, Executive Vice President and General Manager for Greater China at Manulife. “Together with our existing operations in Manulife Financial Centre, Manulife Tower will make Manulife one of the biggest employers in Kowloon East and further strengthen our market presence in Hong Kong, where we serve one-fifth of the population with more than 118 years of remarkable success.”
Manulife Tower is the latest acquisition to Manulife’s global real estate investment portfolio which includes more than 58 million square feet in key markets across Canada, the United States and Asia.
About Manulife (International) Limited
Manulife (International) Limited is a member of the Manulife group of companies.
Manulife Financial Corporation is a leading international financial services group providing forward-thinking solutions to help people with their big financial decisions. We operate as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. At the end 2014, we had 28,000 employees, 58,000 agents, and thousands of distribution partners, serving 20 million customers. At the end of June 2015, we had C$883 billion (HK$5,487 billion) in assets under management and administration, and in the previous 12 months we made more than C$22 billion in benefits, interest and other payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 100 years. With our global headquarters in Toronto, Canada, we trade as ‘MFC’ on the Toronto, New York, and the Philippine stock exchanges and under ‘945’ in Hong Kong. Follow Manulife on Twitter @ManulifeNews or visit www.manulife.com or www.johnhancock.com.
About Manulife Real Estate and John Hancock Real Estate
Manulife Real Estate is the global real estate arm of Manulife, operating as John Hancock Real Estate in the U.S. and Manulife Real Estate in all other parts of the world. Manulife Real Estate has fully integrated in-house capabilities and 70 years of experience as an active investor, owner, developer and asset manager of commercial real estate. Diversified by both geography and asset type, the portfolio consists primarily of prime office and industrial properties, as well as select retail and multi-family residential properties, in key metropolitan centers throughout Canada, Asia and in the United States. In addition to equity real estate, Manulife Real Estate manages the space requirements and own use facilities for Manulife and John Hancock operations around the world. Manulife Real Estate also extends its real estate asset management expertise to institutional investors. As at June 30, 2015, the Manulife Real Estate portfolio totaled more than 58 million square feet with AUM market value of C$17.5 billion (US$14.0 billion). Additional information about Manulife Real Estate can be found at http://www.manuliferealestate.com/