Offices may decamp to Hong Kong’s Causeway Bay amid rental crash in the world’s costliest retail strip

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PETALING JAYA: The decision to allow former prime minister Datuk Seri Najib Razak to remain free pending his appeal against his conviction at the Federal Court has been questioned by Tun Dr Mahathir Mohamad.

One investor betting on Causeway Bay’s potential as a prime office zone is H Development Holdings Limited, which counts the 28-storey retail commercial complex Henry House and the 24-floor Biz Aura office building in its property portfolio. H Development recently completed the redevelopment of a commercial building in Causeway Bay, the 25-storey HDH Centre on Irving Street.

“HDH Centre is our flagship for 2021, a Grade A commercial complex located at the heart of Causeway Bay and primed to become a landmark in the community,” said Eric Ng, H Development’s chairman. “The group is optimistic about the market and potential of Causeway Bay.” One of HDH Centre’s first tenants is the German home appliance brand Bosch, which will relocate its flagship from Central to occupy the entire first floor. The building’s third to eighth floors will be dedicated to food and beverage outlets, and the rest for office tenants.

“We place great emphasis on the Hong Kong market, hence we are very selective when considering the new location for our Hong Kong flagship store,” a Bosch spokesman said. “HDH Centre is a new completed complex with stylish architectural design. It is conveniently located at the heart of Hong Kong’s commercial and entertainment hub... A mere three-minute walk from Causeway Bay MTR station, convenient transport means a high number of visitors from time to time.

In Tower 535 on Jaffe Road also in Causeway Bay, co-working giant IWG has taken over the space vacated by rival WeWork.

 

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