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The Executive Centre, Asia-Pacific's leading provider of premium serviced offices, today (March 2) announced the official opening of the company's 5th and 6th Centres in Hong Kong. Already 70% occupied, the new Centres are located at Three Pacific Place in Central and Cambridge House in Island East. With six Centres in Hong Kong, the company now operates the largest network of serviced offices in Hong Kong.
In addition to the new locations, The Executive Centre operates from core Central locations in Cheung Kong Centre, Entertainment Building, Bank of America Tower and Wheelock House. The newly opened Centres are part of a $156 million investment programme targeted at opening 20 new centres in Asia and Europe by 2008.
The company has demonstrated strong confidence in the long-term development of the business environment in Hong Kong. The Chief Executive of The Executive Centre, Mr Paul Salnikow, said, "We observe an upward trend in the establishment of both foreign and local companies here in Hong Kong. Office accommodation has been highly sought after. Hence we see it as a tremendous opportunity to offer a more cost-effective solution for companies, especially new start-ups, in a tight office environment. In fact, The Executive Centre has now become the incubator, with over 1,000 companies using our services and facilities in Hong Kong. Our offering has proved viable among our clients and we are confident of further tapping the market potential here.
"We are high-end, understated and unbranded," added Salnikow. "We offer quality corporate accommodation supported by advanced IT infrastructure, incorporating the latest VoIP telecommunications technology, in sophisticated non-branded environments. Our customers look to us for a complete service. And our formula is paying dividends ¡ª in 2005 we achieved 92% occupancy across the network with our average client staying for more than 24 months. This provides for a stable income stream, which in turn allows us to plan for future investment in other countries and other centres."
On the choice of Hong Kong for its regional headquarters, Salnikow said "Hong Kong's facilities, infrastructure and talent pool provide an excellent entrepreneurial climate for our company. There is no question that Hong Kong provides The Executive Centre with the best location from which to manage our growth across the Asian markets."
Officiating at the launch event of The Executive Centre, Mr Mark Michelson, Associate Director-General of Investment Promotion at Invest Hong Kong, said "I am delighted to congratulate The Executive Centre on its expansion in Hong Kong. Since making Hong Kong the regional headquarters 12 years ago, the company has grown steadily to become an industry leader in Hong Kong and across Asia-Pacific. The quality office facilities and services provided by the Executive Centre help attract foreign companies to set up in Hong Kong. We at Invest Hong Kong wish the Executive Centre every success in its business ventures, locally and regionally."
Established in 1994 as a half-floor operation in Bank of America Tower in Central, The Executive Centre has grown into Asia-Pacific's leading premium serviced office provider with 19 centres across 10 cities. Serviced offices are located in Hong Kong, Tokyo, Seoul, Beijing, Shanghai, Taipei, Singapore, Jakarta, Sydney and Sofia (Bulgaria).
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish and expand a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Thursday, March 2, 2006
Issued at HKT 16:31
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