JPMorgan issued a research report saying that it will become the first major office tenant of SHK PPT (00016.HK) -3.600 (-2.675%) Short selling $338.08M; Ratio 199.457% 's Artist Square Towers (AST) in West Kowloon, relocating from its current office at The Quayside in 2028. There is no indication of relocation from its office at Chater House in Central.The rental levels of the International Commerce Centre (ICC) are $60-80 per square foot per month, while recent IGC transaction rents range from $45 to $55 per square foot, according to data. Related News UBS: Hong Kong Office and Retail Markets Under Short-term Pressure; Prefers Net Cash High Dividend Stocks Like CK Asset (01113.HK) and Sino Land (00083.HK)Assuming an average office rent of $50 and retail rent of $100 for IGC, with efficiency ratios of 80% for office and 65% for retail, the full leasing of IGC could result in a 4.3% increase in SHK PPT's rental income. In terms of net profit, IGC is expected to contribute 2.7% to SHK PPT's earnings.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)
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