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DBS expands Hong Kong presence with HKD 2.62 billion office deal at The Center

#International News#Hong Kong
Last Updated : 17th Apr, 2026
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Synopsis

Singapore-based DBS has strengthened its presence in Hong Kong's commercial real estate market by acquiring six additional floors at The Center for HKD 2.62 billion (USD 334.29 million). This marks the city's largest commercial property transaction so far this year and takes DBS Hong Kong's total ownership in the building to 14 floors. The move reflects the bank's continued focus on Hong Kong as a key wealth management hub. The deal also signals improving sentiment in the city's office market, supported by stronger capital market activity and renewed demand from mainland Chinese and global firms.

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Singapore-based DBS has expanded its commercial real estate footprint in Hong Kong by acquiring six additional floors at The Center for HKD 2.62 billion, equivalent to USD 334.29 million. The transaction stands as the largest commercial property deal recorded in the city so far this year.


With this acquisition, DBS Hong Kong's total ownership within the building has increased to 14 floors. The move reflects a continued strategy to strengthen its presence in one of Asia's key financial hubs, particularly in the wealth management segment.

Sebastian Paredes, Head of North Asia and Chief Executive Officer of DBS Hong Kong, stated that the investment demonstrates the bank's continued commitment to Hong Kong and its confidence in the city's long-term economic strength as a leading international financial centre and wealth management hub. He also indicated that the acquisition will support the bank's plans to expand its operations in the region.

The transaction comes at a time when Hong Kong's commercial property market has shown signs of recovery over the past few months. Improved activity in capital markets has contributed to renewed demand for office spaces, particularly from mainland Chinese firms and multinational companies looking to strengthen their regional presence.

In recent years, the city's office market had faced pressure due to lower demand and global economic uncertainty. However, the current uptick in large-ticket transactions suggests a gradual return of investor confidence, especially in premium commercial assets located in core business districts.

Source Reuters
Next (Bandra East high court complex to reshape Mumbai real estate market)

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