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Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) and Swire Properties are pleased to announce the renewal of their lease at Pacific Place, extending Crédit Agricole CIB’s tenancy until 2034. This includes four floors of Two Pacific Place, spanning approximately 85,000 sq ft of Grade-A office space, which serves as the bank’s regional headquarters in Asia Pacific.
The lease renewal marks a significant milestone in the strategic partnership between the two companies that has lasted for more than two decades. It is also a vote of confidence in Hong Kong’s status as a global financial centre, while underscoring Pacific Place's position as the location of choice for premium corporates.
A signing ceremony was held at Pacific Place, officiated by Tim Blackburn, Chief Executive of Swire Properties; Fanny Lung, Chief Financial Officer of Swire Properties; Don Taylor, Director, Office of Swire Properties; Jean-Francois Deroche, Senior Regional Officer for Asia-Pacific at Crédit Agricole CIB; Edouard O’Neill, Chief Executive Officer for the Hong Kong Branch at Crédit Agricole CIB; and Olivier Venencie, Regional Chief Operating Officer for Asia-Pacific and Hong Kong at Crédit Agricole CIB.
Jean-Francois Deroche, Senior Regional Officer for Asia-Pacific at Crédit Agricole CIB, said, “Pacific Place has been our home in Hong Kong and the region’s headquarters for over 20 years. It has been precisely where our teams collaborate, succeed and thrive together, alongside our local clients and partners. Our renewed office not only strengthens this “foundation” for the next decade, it also demonstrates our commitment to the city’s long-term development.”
Tim Blackburn, Chief Executive of Swire Properties, said, “We are delighted to renew our longstanding partnership with Crédit Agricole CIB, reaffirming Pacific Place’s status as a world-class business address in Hong Kong. Under Swire Properties’ HKD100 billion investment plan, we are committed to enhancing our core portfolios in Hong Kong, including Pacific Place, to support the city’s long-term development as a global financial centre.”
Don Taylor, Director, Office at Swire Properties, said, “This lease renewal reinforces Pacific Place’s position as a premier mixed-use business hub, combining unmatched connectivity, versatile spaces, premium amenities, and industry-leading ESG credentials. Placemaking is at the core of our business and we have initiated a variety of programmes, such as the Green Performance Pledge (“GPP”), to engage with our partners. We look forward to deepening our partnership with Crédit Agricole CIB by supporting their goals in sustainability, wellness, talent attraction, and long-term business growth.”
Both Crédit Agricole CIB and Swire Properties share a strong commitment to sustainable development. Recognised by Euromoney for two consecutive years as “Hong Kong’s Best Bank for ESG”, Crédit Agricole CIB was among the earliest signatories of Swire Properties’ proprietary GPP which was launched in 2022. Through close collaboration with Swire Properties, from energy audits and LED lighting upgrades to smart waste management, Crédit Agricole CIB achieved the highest reduction in energy use intensity among all Pacific Place’s office tenants in 2024. Building on this success, Crédit Agricole CIB is planning a comprehensive office refresh to incorporate forward-looking sustainability and wellness features into the workplace.
As a leading international bank with deep roots in Hong Kong, Crédit Agricole Group celebrated the 130th anniversary of its presence in the city last year. Based at Two Pacific Place for over two decades, Hong Kong continues to serve as the bank’s regional hub for Asia Pacific, as well as a strategic gateway to the Chinese Mainland.
Pacific Place’s holistic mixed-use design, superb connectivity above the Admiralty MTR super-interchange station, and market-leading ESG credentials have been key factors for Crédit Agricole CIB to choose Pacific Place as its long-term home. Two Pacific Place has achieved the highest Platinum ratings in major global certifications, including BEAM Plus, LEED, WELL and WiredScore.
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Photo Caption
Tim Blackburn, Chief Executive of Swire Properties (right), and Jean-Francois Deroche, Senior Regional Officer for Asia-Pacific at Crédit Agricole CIB (left).
(From left to right) Olivier Venencie, Regional Chief Operating Officer for Asia-Pacific and Hong Kong at Crédit Agricole CIB; Edouard O’Neill, Chief Executive Officer for the Hong Kong Branch at Crédit Agricole CIB; Jean-Francois Deroche, Senior Regional Officer for Asia-Pacific at Crédit Agricole CIB; Tim Blackburn, Chief Executive of Swire Properties; Fanny Lung, Chief Financial Officer of Swire Properties; Don Taylor, Director, Office of Swire Properties.
About Swire Properties
Swire Properties develops and manages commercial, retail, hotel, and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections. Swire Properties is listed on the Main Board of the Stock Exchange of Hong Kong.
In Hong Kong its investment portfolio includes Taikoo Place, Pacific Place, Cityplaza and Citygate. The Company’s completed portfolio in Hong Kong comprises approximately 1.54 million sqm (approximately 16.5 million sq ft) of space.
In the Chinese Mainland, Swire Properties has six completed mixed-use developments. They include Taikoo Li Sanlitun and INDIGO in Beijing, HKRI Taikoo Hui and Taikoo Li Qiantan in Shanghai, Taikoo Hui Guangzhou and Taikoo Li Chengdu. Taikoo Place Beijing^, Taikoo Li Xi'an, Sanya development project (Phase 3)*, New Bund Mixed-use Project* and Lujiazui Taikoo Yuan in Shanghai and Taikoo Li Julong Wan Guangzhou are currently under development. The Company’s completed portfolio in the Chinese Mainland comprises approximately 1.3 million sqm (14 million sq ft) of space.
In addition to Hong Kong and the Chinese Mainland, the Company has a presence in Indonesia, Vietnam, Singapore, Thailand and Miami, USA.
Swire Properties has achieved global leadership in sustainable development with its No. 1 ranking in the Dow Jones Best-in-Class World Index 2024 (formerly known as Dow Jones Sustainability World Index), in the Real Estate Management & Development Industry category.
Visit Swire Properties’ website at www.swireproperties.com
^Taikoo Place Beijing will include the existing INDIGO upon completion.
*Project name to be confirmed.