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Manulife strengthens presence in Kowloon East with Grade A office building renamed ‘Manulife Place’

Update: December, 09/2021 - 03:53

Renovated 145,000 sq ft office space to cater to rapid agency force expansion

HONG KONG SAR - Media OutReach - 8 December 2021 - Manulife Hong Kong today announced the official renaming of International Trade Tower (ITT) in Kowloon East to 'Manulife Place', effective December 8. As the anchor tenant occupying four floors, Manulife has moved part of its agency force to the newly renovated 145,000 square-foot office space. The new office marks another strategic investment Manulife has made in Hong Kong as the company targets long-term, annual double-digit growth in its agency headcount to accelerate its business performance.

 


Manulife Place (formerly known as International Trade Tower) will be home to up to 3,400 Manulife agents.

 

"We are excited to broaden our footprint into another Grade-A building, now called Manulife Place. This move is a significant milestone for Manulife in Hong Kong, demonstrating our continued commitment to investing in this important market and meeting the needs of Mainland Chinese Visitors as the borders gradually reopen," said Damien Green, Chief Executive Officer of Manulife Hong Kong and Macau. "Our pre-eminent insurance agency force with over 11,000 advisors in Hong Kong has been the key contributor to the growth of our business. By equipping them with best-in-class facilities, they can further provide enhanced services as the company continues to expand and change the market order."

 

Manulife Place is the company's fourth office in Kowloon East, underpinning its ambitious long-term growth strategy in the city and the Greater Bay Area region. The newly refurbished four floors will initially be occupied by 2,400 agents, and can house up to 3,400 agents when used in full capacity. The open office space is designed to foster greater collaboration, promote learning, and nurture inclusion among agency teams. It includes digitally-enabled meeting and training rooms to allow for increased flexibility and productivity, spacious common areas to encourage communication and creativity, and a comfortable and expansive front of office to welcome and serve customers visiting their agents in Manulife Place.

 

The lease agreement signed in April this year is Hong Kong's largest Grade A office leasing deal since July 2019 and the largest in Kowloon East since April 2018 in terms of net floor area[1].

 

"We are proud to have a strong and outperforming agency force that serves as the backbone to the success of our Hong Kong business," said Mr. Green. "As a leading insurance player in health and retirement, Manulife will remain committed in our investment towards products, distribution capabilities, customer experience as well as community support so that people can live every day better."



[1] Based on statistics of CBRE Hong Kong.


About Manulife Hong Kong

Manulife Hong Kong, through Manulife International Holdings Limited, owns Manulife (International) Limited, Manulife Investment Management (Hong Kong) Limited and Manulife Provident Funds Trust Company Limited. As a member of the Manulife group of companies, Manulife Hong Kong offers a diverse range of protection and wealth products and services to individual and corporate customers in Hong Kong and Macau.

About Manulife

Manulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we provide financial advice and insurance, operating as Manulife across Canada, Asia, and Europe, and primarily as John Hancock in the United States. Through Manulife Investment Management, the global brand for our global wealth and asset management segment, we serve individuals, institutions and retirement plan members worldwide. At the end of 2020, we had more than 37,000 employees, over 118,000 agents, and thousands of distribution partners, serving over 30 million customers. As of September 30, 2021, we had CAD$1.4 trillion (HK$8.6 trillion) in assets under management and administration, and in the previous 12 months we made CAD$31.6 billion in payments to our customers.

Our principal operations are in Asia and Canada, and the United States, where we have served customers for more than 155 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong. Not all offerings are available in all jurisdictions. For additional information, please visit manulife.com.


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The issuer is solely responsible for the content of this announcement.

Manulife Hong Kong

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