Citi invests to expand footprint in Three Garden Road to tap burgeoning business opportunities in Hong Kong and the region
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The global bank that has been on the ground in Hong Kong for over 120 years continues to invest in the city where it serves institutions and wealth clients across the entire continuum from affluent to ultra-high net worth and family offices.
In the first quarter of 2023, Citi Hong Kong registered a 16 percent year-on-year growth in overall revenues, while revenues for the Institutional Clients Group increased by 35 percent. Additionally, it doubled its number of new private banking and high-net-worth clients year-on-year.
To support client-led growth, Citi Hong Kong plans to increase hiring in key business areas including the fast-growing commercial bank client segments serving midsize and emerging corporates in Hong Kong and across the region.
Taking up more space at Three Garden Road
An anchor tenant of Three Garden Road in Central for over three decades, Citi took up additional floors in Champion Tower in 2022 and 2023 to tap into new opportunities and meet evolving client needs. It now occupies ten floors housing over 1,400 staff from Citi Private Bank and various businesses serving institutional clients, including Markets, Securities Services, and Banking, Capital Markets & Advisory.
Comprising Champion Tower and ICBC Tower, the premium Grade A Three Garden Road complex stands as a symbol of global finance hub with tenants from top-notch banks and asset management firms.
“Three Garden Road is an iconic landmark in the precinct, with proximity to many long-term Citi clients who are within walking distance from Champion Tower,” explains Aveline San, Citi Hong Kong’s Chief Executive Officer, about its decision to expand its footprint there. “Champion REIT’s vision to develop the complex into a vibrant live/work community, fully embracing elements that matter to today’s workforce such as Environmental, Social and Governance (ESG) and sustainability, wellness, art and culture, also aligns with our own.”
The human touch and wellness programmes enhance work environment and employees’ wellbeing
Another reason for expanding in Three Garden Road is what the complex offers regarding employee experience.
“Citi constantly strives to ensure the company remains a great place to work — where people can thrive professionally and personally. We are committed to supporting colleagues’ immediate and long-term well-being in all locations to help them succeed,” says San.
The continuous upgrade of the iconic Grade A structure, the presence of a 30,000 sq.ft. fitness centre complete with a heated swimming pool (the only gym in the vicinity to boast that), its prime location in Central with an elevated walkway to connect easily to the rest of the district, and the possibility to join the floors of two towers to create the largest floorplate of up to 34,000 sq. ft. in Central are other attractions of Three Garden Road.
With workplace wellbeing an essential ingredient for employee wellness, what’s offered at Three Garden Road meets the needs of the over 1,400-strong Citi staff based there. Champion REIT strives to foster a favourable and healthy environment for our tenants by introducing numerous wellness initiatives and social events. A networking event popular with Citi employees and other tenants is the free classical music concert series “Musica del Cuore” hosted by Three Garden Road regularly. Aimed at promoting up-and-coming young musicians, it engages the audience with acclaimed world-class performances. It is also notable for being the only classical music concert series performed in a commercial building in Central.
Another initiative Three Garden Road tenants welcomed was the International Women’s Day event offering free wellness drinks and shoulder massage for their mid-week retreat. The event was held at Eaton Club, the premium, flexible work and event space on the 5th floor of Champion Tower.
Expounding on Three Garden Road’s wellness hub, Christina Hau, Champion REIT’s Chief Executive Officer, says that the company fosters a people-oriented approach and values relationship with its tenants.
“We take a customer-centric, value creation, and high ethical standards approach with our groundbreaking wellness amenities to foster the culture of work-life balance,” she reiterates. “We also offer pleasant and relaxing dining outlets providing a variety of delicacies and healthy choices, and embrace art and culture through art piece display and hand-painted staircase creation.”
The property’s enhanced global image add to the appeal
In addition to the amenities and wellness initiatives, what Citi values the most is Three Garden Road’s professional management. “They engage us regularly to understand our needs and preferences. Their communication is effective and seamless,” San states.
What’s inside its world-class working environment is also reflected on the outside. Three Garden Road has received the highest award from the Hong Kong Institute of Architects in recognition of its excellence in architectural design, attracting many multinational corporations aside from Citi to have their offices located there, thus enhancing its global status.
For Champion REIT, Hau acknowledges that having such a prestigious tenant as Citi reinforces Three Garden Road’s image, thereby attracting tenants who want to be associated with high quality financial institutions thanks to its strategic location in the heart of the financial district.
A “Double Platinum” rated green and sustainable building
In an era where environmental consciousness is paramount, Three Garden Road’s impressive green credentials matter to its tenants.
It has achieved the rare feat of being the first in Hong Kong to receive a WELL Core Certification Platinum for Existing Building, having its indoor air quality certified as “excellent” for over ten years by the Environmental Protection Department, and achieving the highest score of “BEAM Plus Existing Buildings Platinum”, with full marks in five categories including “innovations” and “energy use”.
These “Double Platinum” ratings stand Three Garden Road in good stead to making stable progress in meeting its 2030 Environmental, Social and Governance targets and net zero roadmap.
