HONG KONG: Hong Kong Exchanges and Clearing Limited (HKEX) has contracted to acquire the top nine floors of One Exchange Square in Hong Kong as its permanent headquarters, Hongkong Land Holdings Limited announced Tuesday. The transaction, valued at HK$6.3 billion (US$810 million), also includes retail space on Levels 1 and 2, which will be transformed into an immersive entrance lobby.
The move strengthens HKEX’s long-standing relationship with Hongkong Land, dating back to the completion of Exchange Square in 1986. HKEX has also agreed to a new long-term lease for approximately 63,000 square feet in Two Exchange Square.
“The acquisition reaffirms Hongkong Land’s commitment to Central as Hong Kong’s financial hub,” the company said in a statement.
The sale proceeds will be received in phases, with 45% expected in 2025 and the remainder in 2026. Hongkong Land will invest up to HK$400 million toward planned enhancements to One Exchange Square, pending government approvals.
Hongkong Land plans to allocate 80% of the sale proceeds to debt reduction and 20% toward a US$200 million share buyback program.
HKEX, a publicly traded company and a major global exchange group, operates markets for equities, derivatives, commodities and fixed income, including the London Metal Exchange.
Hongkong Land, a leading real estate investment and development group, manages premium mixed-use properties in Asian gateway cities, with flagship assets in Hong Kong, Singapore and Shanghai.