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Swire Pacific Limited

For Immediate Release 28 March 2022

IWG To Launch New 18-Storey HK "Spaces" Centre
At Swire Properties' 8QRE

Spanning the entire office tower, the 64,800 sq ft centre is
the global leader in hybrid work's first location in Admiralty

HONG KONG, 28 March 2022 - IWG, the world's largest and fastest-growing flex and office space provider, is set to open a new state-of-the-art "Spaces" centre at Swire Properties' newly-refurbished 8 Queen's Road East ("8QRE") office tower in Admiralty, a move that will reinforce the brand's status as the leading choice among Fortune 500 companies, start-ups and SMEs.

Slated to open in July 2022, Spaces at 8QRE is located in the heart of Hong Kong's central business district (CBD) and will offer flexible workspace solutions. The centre will comprise over 900 workstations and 70 private offices, with five floors dedicated to enterprise suites.
Apart from the managed offices, the new centre will have a two-storey "Business Club" featuring an open plan layout for hot-desking and informal meetings, which will also foster social exchanges among the wider professional community to spark inspiration.
"The new Spaces at 8QRE, which is our seventh location in Hong Kong and a landmark addition to our Hong Kong network, will enable more businesses and employees to adopt hybrid working that is better for People, Planet, and Profits, which continues to accelerate," said Paul MacAndrew, Country Manager for IWG in Hong Kong & Greater Bay Area. "We are thrilled to further our ambitious plans for growth with this prominent new centre in Admiralty, one of the largest business hubs in Hong Kong and a hotspot for enterprises of all shapes and sizes."

Don Taylor, Director, Office at Swire Properties said, "We're delighted to welcome IWG, a leading global workspace provider, to our Hong Kong office portfolio. IWG's commitment to the entire 8QRE will help to boost the flex space offering to not only our Pacific Place tenants, but the greater business community as well. This reinforces our efforts to build a vibrant commercial hub, in and around Pacific Place, where people can thrive amid the rapidly evolving needs of those returning to work."

8QRE At A Glance
Boasting impressive views of Queensway, 8QRE is located opposite to Three Pacific Place and adjacent to the Admiralty MTR station and the Starstreet Precinct. Owned and managed by Swire Properties, the Grade-A office building adds to a vibrant neighbourhood comprising Pacific Place – where visitors can explore a diverse range of retail, dining and hotel offerings; and the Starstreet Precinct – an eclectic hangout and a hotspot filled with cosy cafes, restaurants, bars and boutique shops.

The tower has undergone extensive refurbishment with features such as a modern, glazed glass facade that lets in natural light, reducing the need for artificial lighting and increasing user wellbeing.

With easy access to the city's key areas, 8QRE also offers connectivity to transport links including the MTR and the Airport Express as well as new and upcoming infrastructure such as the Central-Wanchai Bypass and the Shatin-Central Link.

The launch of Spaces at 8QRE comes off the back of IWG's opening of Spaces at Tower 535 in Causeway Bay this year. Over the past year, the global leader in hybrid work solutions has been accelerating its expansion in Hong Kong through the Spaces and Signature brands, adding as much as 163,200 square feet to its local network.

As offices in prime locations such as Hong Kong's CBD confront changes in end-user habits and preferences due to the pandemic, as reported in JLL's ‘Unlocking Value in Real Estate', IWG's hybrid work solutions provide greater flexibility that puts commercial properties in a stronger position in the post-pandemic future. "Our clients are increasingly incorporating flex space into their real estate portfolio, allowing them to adapt efficiently to changing circumstances. IWG's en-bloc expansion at 8QRE, with prominent signage to Central, strengthens the proposition of both IWG's network and Swire Properties' Pacific Place offering for tenants," stated Sam Gourlay, Head of Tenant Representation Hong Kong, JLL.

IWG's MacAndrew added, "As we continue to expand our network in all markets and work towards adding 1,000 locations globally over the next year, we are very pleased to be a preferred partner for Swire Properties in Hong Kong. Through Spaces at 8QRE, we will provide a Great Day at Work to even more customers."

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About IWG, International Workplace Group
IWG is the global operator of leading workspace providers. Our companies help millions of people and their businesses to work more productively. We do so by providing a choice of professional, inspiring and collaborative workspaces, communities and services.

Digitalisation and new technologies are transforming the world of work. People want the personal productivity benefits of living and working how and where they want. Businesses want the financial and strategic benefits. Our customers are start-ups, small and medium-sized enterprises, and large multinationals. With unique business goals, people and aspirations. They want workspaces and communities to match their needs. They want choice.

Through our companies we provide that choice, and serve the whole world of work: Regus, Spaces, HQ, Signature and Basepoint. We create personal, financial and strategic value for businesses of every size. From some of the most exciting companies and well-known organisations on the planet, to individuals and the next generation of industry leaders. All of them harness the power of flexible working to increase their productivity, efficiency, agility and market proximity.

Join us at www.iwgplc.com

About Swire Properties

Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections. Swire Properties is listed on the Main Board of the Stock Exchange of Hong Kong and its investment portfolio in Hong Kong comprises Taikoo Place, Pacific Place, Cityplaza, and Citygate. The Company's completed portfolio in Hong Kong comprises approximately 15.8 million sq ft (approximately 1.5 million sqm) of space.

In the Chinese Mainland, Swire Properties has six completed mixed-use developments in Beijing, Shanghai, Guangzhou and Chengdu. They include Taikoo Li Sanlitun and INDIGO in Beijing, HKRI Taikoo Hui and Taikoo Li Qiantan in Shanghai, Taikoo Hui Guangzhou and Sino-Ocean Taikoo Li Chengdu. INDIGO Phase Two in Beijing and Taikoo Li Xi'an are currently under development. The Company's completed portfolio in the Chinese Mainland comprises approximately 14 million sq ft (approximately 1.3 million sqm) of space.

In addition to Hong Kong and Chinese Mainland, the Company has investments in the United States, Indonesia and Vietnam.

Visit Swire Properties' website at www.swireproperties.com

Contact details:

RICE for IWG
Koey Kwong, koey.kwong@ricecomms.com
Zanna Chung, zanna.chung@ricecomms.com

Swire Properties
Wayne LeungJanice Yim
Assistant General Manager, Public AffairsPublic Affairs Manager
Tel: (852) 2844 3038 / 9628 7993Tel: (852) 2844 3094 / 9578 9502
Email: wayneleung@swireproperties.comEmail: janiceyim@swireproperties.com


Source: Swire Pacific Limited
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