GIORDANO INT'L (00709) has announced that on March 9, 2026, its indirect wholly-owned subsidiary, Giordano Limited, entered into a tenancy agreement with the property owner, Soundwill Limited. Under the agreement, the owner has agreed to lease the properties to Giordano Limited for a term commencing on March 9, 2026, and ending on February 29, 2032, inclusive of both dates.
The properties consist of the entire 22nd floor of Tower B at 83 Lung Lin Street, Cheung Sha Wan, Kowloon, Hong Kong, China; and Unit 1 on the 18th floor of the same tower. These properties are intended to replace the company's current principal place of business and the group's headquarters in Hong Kong, as the lease for its existing office space, which has been in use for nearly 30 years in the same district, is set to expire in July 2026.
After considering the renewal terms for the current office, potential costs and disruptions associated with any upgrades to the existing property, and the lease terms for the new properties, the company concluded that entering into the tenancy agreement on market terms would more effectively support the group's business and operational needs. The new properties are located in a newly constructed Grade A twin-tower office building certified to meet several leading ESG standards and equipped with tenant amenities. The company believes the new space provides sufficient room for further growth and expansion opportunities, without a significant increase in operating expenses over the lease term.
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