Hong Kong Exchanges & Clearing has agreed to pay HK$6.3 billion (US$812 million) for office floors and retail space in One Exchange Square and other related assets in Central from Hongkong Land, marking one of the city’s biggest commercial property transactions in two years.

The stock exchange operator said on Thursday that it would buy the top nine floors and some retail space on the podium in the building in the city’s core business district, according to a statement. It aims to turn the property, totalling 147,025 sq ft, into its headquarters, after operating at the site for nearly four decades.

The company would also sign new long-term leases for several floors it currently occupies in the adjacent Two Exchange Square, with the hybrid buy-and-rent model providing more flexibility and resilience against property cycles, HKEX said.

“We are delighted to be unveiling the next exciting chapter of HKEX’s journey at Exchange Square, with the announcement of a strategic investment to establish our permanent home,” Chairman Carlson Tong said. “The Exchange Square has stood witness to the Hong Kong capital market’s remarkable transformation” into a global financial powerhouse.

Source: SCMP