Everbright Completes Acquisition of Dah Sing Financial Centre from SEA Group
China Everbright Group and China Everbright Limited (“CEL”, stock code: 165.HK) are pleased to announce the successful acquisition of the Dah Sing Financial Centre commercial building, located in Hong Kong at 108 Gloucester Road, Wan Chai. The transaction was concluded during a handover ceremony held today at Dah Sing Financial Centre .
China Everbright Group and CEL acquired the property from the SEA Group through a joint venture 83.33 per cent owned by China Everbright Group and 16.67 per cent owned by CEL. The property, acquired for a consideration of around HK$10 billion, will be held as a long-term investment and retained by Everbright for its own use as offices, with any remaining space to be leased to other tenants.
In recent years, Everbright continues to grow and expand. In 2015, China Everbright Group entered the Fortune Global 500 list for the first time. Its total assets under management reached RMB3.5 trillion with an annual profit of RMB53 billion – both of which demonstrate leading achievements amongst peers. China Everbright Group’s operating results also achieved record highs to become a financial holding group in possession of a number of leading enterprises and brands. This acquisition meets Everbright’s growth needs, as well as its strategy of pursuing sustainable development in Hong Kong. It also shows Everbright’s confidence in Hong Kong’s future development. Everbright added that it is optimistic about the prospects of commercial properties in Hong Kong, given the on-going lack of supply in the city’s core business district and also the rarity of en-bloc sales of commercial buildings in the market.
Dah Sing Financial Centre, is a 38-storey grade A commercial building with a total gross floor area of more than 400,000 square feet (37,000 square metre). It is located in a core area of Hong Kong’s central business district, lies adjacent to important government service and commercial facilities such as Revenue Tower, Immigration Tower and the Hong Kong Convention and Exhibition Centre. Its current occupancy rate is over 90 per cent.
