Hedge fund Qube leases six floors at Two IFC in one of Central’s largest deals in a decade
Qube’s expansion mirrors a broader trend among financial firms taking advantage of softer rents to move into higher-grade offices
Global hedge fund Qube Research & Technologies (QRT) is set to become the largest private tenant at Two International Finance Centre, signing a multi-story lease as falling rents drive a wave of office upgrades across Hong Kong’s premier business district.
The London-based firm will take up to 146,000 sq ft of space across six floors owned by MTR Corp in Two International Finance Centre, for an undisclosed rental amount. The space was previously occupied by the UBS Group.
QRT’s lease was set to begin in 2027. “Hong Kong has been viewed as a key regional and global hub since Qube’s inception, and the move reflects the firm’s confidence in the city’s long-term prospects,” said Murray Steel, Qube’s Asia-Pacific chief operating officer in a statement on Thursday.
Qube’s expansion mirrors a broader trend among financial firms taking advantage of softer rents to upgrade into higher-grade offices in Central. The firm is currently leasing offices in Central Tower, an A-grade office building near the Landmark, but would expand and upgrade its office space under the new lease at Two IFC.
The deal would make Qube the largest private-sector tenant in the IFC complex, according to property consultancy JLL, which advised on the transaction. The Hong Kong Monetary Authority remains the largest single tenant in Two IFC.
The transaction is the second-largest office lease signed in Central this year, and among the biggest in the district over the past 10 years.