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Old December 5th, 2007, 10:01 AM   #2161
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Kindly inform me as to where I can access the previous part of this thread that has been cut out to keep this thread concise and current? Thanks in advance.

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Old December 5th, 2007, 05:50 PM   #2162
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SHKP welcomes Credit Suisse's Hong Kong operations to the International Commerce Centre (ICC)
5 December 2007
http://www.shkp.com/html/klnstation/...s_20071205.htm

Credit Suisse has entered into a long term tenancy agreement today with Sun Hung Kai Properties, the developer of International Commerce Centre (ICC) in West Kowloon.

Credit Suisse is expected to move its entire Hong Kong operations to ICC by 2011, underpinning the development's positioning as a compelling alternative to the established Central Business District.

The Bank will initially occupy the top 10 office floors of the ICC - including an exclusive client reception suite on the prestigious 88th floor - in the very top zone, totaling 300,000 sq ft. The new facility, which will result in Credit Suisse's office space expanding by 40% in Hong Kong, will have a capacity for over 2000 employees. Credit Suisse will start moving staff to the ICC during the second half of 2008.

Sited at Kowloon Station, the distinctive 118-storey mixed-use mega-tower has been designed by world-renowned architects, Kohn Pedersen Fox Associates, and is being constructed in phases. Occupancy is scheduled to commence as early as the first quarter of 2008, with the tower's completion expected in 2010.

"We are delighted to be announcing this move to the ICC. Hong Kong is very important to us and this tenancy agreement underscores our commitment to the long term growth of our Hong Kong businesses." said Paul Calello, CEO Credit Suisse Asia Pacific. "This move also demonstrates our ongoing commitment to Hong Kong, which is already home to some of our most important events," he added. Credit Suisse earlier this year held for the 10th consecutive year its flagship Asian Investment Conference in Hong Kong, which attracts over 1,400 business leaders and investors from around the world.

As part of Credit Suisse's commitment to decreasing the impact on climate change of its operations globally, it will also introduce leading technology into the ICC to reduce energy consumption. At ICC, Credit Suisse will become the first office worldwide to introduce "thinclient" computer terminals for all its staff, which will eliminate the need for each employee to have an individual Personal Computer, and instead all terminals will be linked directly to Virtual Desktop images running on remote servers that will be housed outside the ICC. This concept will allow employees to work from any location in a highly flexible and efficient way, generating considerable cost-savings. The elimination of individual PCs for each employee will result in significant cost and energy savings, with usage resulting in a reduction of up to 20% in power consumption. In addition, Credit Suisse's offices at the ICC will also be fitted with IP telephony and wireless networks, to allow employees to sit at any desk and obtain their full IT environment instantly. This will allow Credit Suisse to use its offices at ICC in a highly flexible and efficient way, generating considerable cost savings during office reconfigurations.

"The ICC is without doubt a premier development and Credit Suisse is delighted to have secured premier space within such an energy efficient building. As a global integrated bank offering Investment Banking, Private Banking and Asset Management services, these state-of-the-art premises will allow our employees to fully maximize integrated service delivery to our clients," said Eoin O'Shea, COO Credit Suisse Asia Pacific.

"ICC's specifications speak for themselves," said Sun Hung Kai Properties Vice Chairman and Managing Director Raymond Kwok, "ICC is a symbol of Hong Kong's status as a prosperous, world-class international city, and we are proud to have Credit Suisse join us here alongside other prestigious tenants. It is a striking vote of confidence in our belief that ICC will be the latest in Hong Kong's landmark buildings, poised to be the first choice of business address for reputable and high quality tenants."

ICC's exceptional building and infrastructure specifications, management services and on-site hotel and accommodation deliver practicality and prestige, functionality and style in a single convenient package to prospective tenants. Soon to open at the Kowloon Station are The Ritz-Carlton, Hong Kong, and Hong Kong's inaugural W-Hotel.

Elements, located directly underneath ICC, boasting over one million square feet of top end shopping, dining, and entertainment, opened recently in October 2007. Elements brings together some of the world's most sought-after brands and restaurants. The diversity of Elements has generated thousands of visitors to the complex ever since the opening.

Moreover, ICC's waterfront site, distinctive architecture, spacious and highly-efficient design, state-of-the-art facilities and revitalizing green spaces are designed to appeal to a wide variety of tenants, from financial institutions to multinational corporations.

Credit Suisse

As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 47,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

About International Commerce Centre

At a soaring 118-storey height, the International Commerce Centre (ICC) will be Hong Kong's latest distinctive landmark. Designed by internationally acclaimed architectural firm Kohn Pedersen Fox Associates, ICC stands for uncompromising design and building quality, and is backed by Hong Kong's leading developer, Sun Hung Kai Properties. Located at a key Harbour crossing point in West Kowloon, ICC will be the only integrated, easily accessible Grade-A commercial and retail space along the Kowloon peninsula. ICC offers exceptional transportation convenience - with commanding views of Hong Kong's distinctive skyline. ICC encapsulates today’s paradigm of modern living - from sumptuous retail locations to luxury boutique residences and revitalizing green spaces. ICC will be completed in phases from 2007 to 2010. When complete, ICC will comprise of 2.5 million square feet of Grade-A offices, a 1-million square feet shopping mall - Elements, luxury residences and serviced apartments – all accessible via Kowloon Station.

About Sun Hung Kai Properties

Sun Hung Kai Properties (SHKP) has been publicly listed since 1972 and today is one of Hong Kong's largest property companies. It has built a strong brand name over the years, along with a reputation for premium quality and comprehensive customer care across the residential, office and retail markets. The company is well known for its seasoned management and commitment to good corporate governance, and the SHKP brand is seen as a guarantee of 'quality you can trust' by customers and investors alike.
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Old December 6th, 2007, 09:18 AM   #2163
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Wow, great photos! I ever enjoy seeing them every time. Just keep updating them anytime so I'll be coiming back again next time! Thanks for updating everything.
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Old December 6th, 2007, 09:25 AM   #2164
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You can't say all those skipped floor numbers have a negative effect on the business since it doesn't seem like it has a big problem with attracting high profile tenants. A tower like this only deserves the best companies of course.
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Old December 6th, 2007, 12:35 PM   #2165
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Can New Hong Kong Tower Put Kowloon On The Map?
The Wall Street Journal

2007年12月06日16:37

For decades, this city's famous skyscrapers have all been jammed together in a district of Hong Kong Island known as Central.

Across the narrow harbor from the island, the city's mainland portion, called Kowloon -- a sort of New Jersey to Central's Manhattan -- has stayed off the radar for financial firms, despite being a five-minute ferry ride away. Instead, the peninsula developed into a dense hodgepodge of narrow shopping alleys, sprawling public-housing projects, shipping yards and garment factories.

But when the 1,588-foot-tall International Commerce Center -- which will be the tallest tower in Hong Kong and the third-tallest in the world -- opens for business this month on the Kowloon side, it will change the face of a commercial-property market that has boomed along with China's rising financial might.

The ICC, a mixed-used project being built in three phases through 2010, bundles upscale shopping and a Ritz-Carlton hotel with 2.5 million square feet of office space. It is being developed by Sun Hung Kai Properties Ltd., a locally listed company controlled by the Kwok brothers, mainstays of Forbes magazine's annual list of the wealthy. Sun Hung Kai oversaw the development of what is currently Hong Kong's tallest building, the International Finance Center.

The ICC sits atop Kowloon Station, a three-minute subway ride from Hong Kong Station in Central. When a planned high-speed rail link to Guangzhou, mainland China's third-largest city, is completed in a few years, it will position the ICC at the crossroads of a key rail line that will bring Guangzhou to within 45 minutes of Hong Kong.

Still, when Morgan Stanley announced in August that it was moving across the harbor and consolidating its Asia-Pacific headquarters in the ICC, it shook a banking sector and an office market that have for decades revolved around prestigious Central. The Wall Street firm has signed up for as many as 650,000 square feet of office space, more than double the space it currently leases out of several buildings in Central.

Lo King-wai, a general manager for Sun Hung Kai, says the developer was initially targeting firms with close business ties to mainland China, for which a Kowloon location would be a more natural fit.

An announcement is expected today in Hong Kong that Credit Suisse Group is moving all its Hong Kong operations to the ICC by 2011, starting next year. The bank will initially occupy the top 10 office floors, a total of 300,000 square feet, expanding its Hong Kong office space substantially.

'A lot of banks are looking for the 'one firm' experience, everyone in the same building,' says Simon Lo, a Hong Kong-based director of research and consultancy for real-estate services firm Colliers International.

The announcements will lend more credibility to Kowloon as a home for global financial firms with a foothold in Hong Kong. Other firms are in talks to set up shop in the ICC, with ABN Amro Holding NV and Deutsche Bank AG both discussing deals, according to a number of people in the industry. Deutsche Bank and Morgan Stanley declined to comment. An ABN Amro spokeswoman didn't respond to requests for comment.

The arrival of the ICC comes as China's booming economic growth and Hong Kong's increasing stature as the gateway to that market have fueled demand for top-grade office space. Low supply in space-crunched Central has driven costs there into the stratosphere, forcing financial institutions to shunt back-room operations to farther-flung locations.

Since hitting a nadir in 2003, office lease rates in Central have jumped fivefold, to about 100 Hong Kong dollars (US$12.84) per square foot per month, according to data from property consultants CB Richard Ellis. For newer buildings, the increase has been steeper, with floor space at the IFC now pulling as much as eight times what it did just four years ago, brokers say.

In the past year alone, average monthly rates in Central have risen 30%, making office space there about five times as expensive as it is in mainland Kowloon. According to CB Richard Ellis, office space across Hong Kong is the 10th most expensive in the world and, in November, was the 15th fastest-rising.

The high rates have been driven by sustained demand from expanding banks, hedge funds and firms from mainland China eager to secure prime office space in Central. That trend has already driven out a number of accounting, legal and professional services firms that moved into Central during 2003, as severe acute respiratory syndrome, or SARS, walloped the economy.

For a big investment bank like Morgan Stanley, saving on a lease -- the firm saved more than 50% in making its move, according to property brokers -- isn't necessarily the top factor, given some of the ICC's other advantages: state-of-the-art infrastructure, like advanced data capacity and security facilities for computer transactions, as well as ample room for consolidation and expansion.

Increasingly, the one-firm experience is becoming difficult to obtain in Central, as these banks' businesses in Asia all continue their aggressive expansion plans. Even as demand has boomed, supply in space-crunched Central has remained stagnant. Since the early 1990s, Hong Kong's economic growth has far outstripped office supply in Central, a situation exacerbated by the fact that few major construction projects have taken place there since the IFC opened in 2003, with virtually no top-grade office space expected to open up in the next three years.

Still, there could be hurdles to the ICC's success, not least of which is that, for some in Hong Kong's banking community, Kowloon feels as far away as New Jersey might to a Manhattanite.

'Kowloon is like a barbarian place. Unfortunately, that's how a lot of people in Hong Kong feel,' says Mr. Lo of Sun Hung Kai.

When Morgan Stanley approached, Mr. Lo says, he was pleasantly surprised, especially when the bank said it would consolidate its operations there. The Sun Hung Kai general manager says the developer responded by regearing its pitch to investment banks.

Now, with Morgan Stanley packing its boxes, Credit Suisse signing on and others expected to follow, he says a critical mass may be developing, a view shared by brokers.

Ultimately, the ICC, together with a cluster of developments farther east in Kowloon, could help relieve the upward pressure on prices in Central. Yet in a sign of the immense demand for space in Central, analysts say that some landlords, far from worrying that their tenants will flee to Kowloon, are only too happy to see them go, knowing they can increase the rent for the next investment bank or brokerage firm. CB Richard Ellis says it has a list of investment and retail banks that are very close to signing.

Andy Yuen, director of the office department at property consultant DTZ in Hong Kong, says he doesn't think the ICC will make a huge difference to Kowloon as a whole. More important, Mr. Yuen says, is the gentrification of East Kowloon, the traditional industrial part of town. The ICC, on the other hand, is being built on reclaimed land.

In recent years, the teeming area has seen a degree of gentrification, with a number of glitzy new redevelopments sprouting there. The ICC is expected generally to hasten that process. Mr. Lo of Sun Hung Kai says that with young expatriate professionals flooding into Kowloon, the ICC could trigger a wave of upscaling to the area.

Jonathan Cheng
The Wall Street Journal
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Old December 7th, 2007, 03:19 PM   #2166
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by Snuffy


by pay21


by rovcina


by Jenny Wong


by daniel global


by larrykaplan


by austenbrown
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Old December 7th, 2007, 03:52 PM   #2167
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Quote:
That's the angle I'm talking about! Hanoi Road and Union Square overlapping...

Fantastic picture by pay21 though ... best of the lot.

The façade is ****** fantastic - it really is like a massive sheet of mirror across the harbour ~ can't wait till it's done.
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Old December 7th, 2007, 04:25 PM   #2168
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great pics, Aboveday!!
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Old December 7th, 2007, 05:33 PM   #2169
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amazing...
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Old December 7th, 2007, 05:41 PM   #2170
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nice updates,thanks to all who spenmt time to take theese pictures for us......btw i have much learned about the construction and engineering of skyscrapers while looking at the construction of this one....
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Old December 9th, 2007, 08:10 PM   #2171
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whats the height at the moment please.
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Old December 9th, 2007, 08:12 PM   #2172
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beautiful pics
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Old December 9th, 2007, 08:13 PM   #2173
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on december 2nd it was 360m...so it should be 365-370m now
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Old December 9th, 2007, 10:14 PM   #2174
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Wonderful pics !!!!!!!!!! Thanks !
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Old December 10th, 2007, 07:06 PM   #2175
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12/9

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Old December 10th, 2007, 09:15 PM   #2176
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i already thought the hk skyline was bitchin' but it's getting so much better!
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Old December 11th, 2007, 12:16 AM   #2177
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cheers zz11, nearly as tall as the empire state building but doesnt look as tall.
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Old December 11th, 2007, 03:02 PM   #2178
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Old December 11th, 2007, 03:41 PM   #2179
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Old December 11th, 2007, 03:42 PM   #2180
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Quote:
Originally Posted by Aboveday View Post
"My ***** is this big - to scale of course."
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