Properties

Wheelock Properties Limited (WPL) and Citi jointly hosted the topping out for East Tower at One Bay East today, marking a significant construction milestone by putting the final shovel of sand atop the development.

Located at 83 Hoi Bun Road, Kwun Tong and in the heart of Hong Kong’s new CBD, the 21-story full seaview grade-A development has a gross floor area of approximately 512,500 square feet, overlooking the panoramic views of Victoria Harbour, the Kai Tak Cruise Terminal and the future Kai Tak Metro Park. The development is scheduled for completion by the end of 2015.

Douglas Woo, Chairman and Managing Director of Wheelock and Company remarked at today’s topping out ceremony: “This auspicious occasion is a significant milestone in the long term relationship between Citi and Wheelock. We warmly welcome Citi and their team to their future home in One Bay East. We are thrilled to play a part in developing their strategic and operational foothold in Hong Kong. Our partnership with Citi demonstrates our shared vision and confidence in the future of Hong Kong’s new CBD 2 as it grows in stature and critical mass. At Wheelock, we are committed to continue to develop this area and we look forward to seeing it flourish in the years to come.”

Weber Lo, Citi Country Officer & Chief Executive Officer for Citi Hong Kong and Macau, remarked: “Today’s topping out ceremony of the East Tower at One Bay East brings us a step closer towards achieving our vision of creating a first class, integrated office complex that will change the way Citi colleagues in Hong Kong connect, communicate and work. We are delighted and greatly honored to have our Citi CEO Mike Corbat to host the ceremony, with Asia Pacific CEO Stephen Bird alongside. I want to thank Wheelock Properties and the whole project team for reaching this important project milestone, and look forward to the successful completion of this project in the months ahead.”

About Wheelock Properties Limited
Wheelock Properties is a wholly-owned subsidiary of Wheelock and Company Limited (HKSE:0020). Its core business includes the undertaking of property development, sales and marketing, and asset management functions of the Group’s property development in Hong Kong. The company has a current landbank in Hong Kong in excess of 8.3 million square feet.

Founded in 1857, Wheelock and Company Limited is a listed investment holding company headquartered in Hong Kong. Wharf Holdings (HKSE:0004), the Group’s principal investment, is strategically focused on property and infrastructure in Hong Kong and China.

For further details, please visit www.wheelockpropertieshk.com and www.wheelockcompany.com

About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi