Global hedge fund Qube Research & Technologies (QRT) signed a multi-story lease at Two International Finance Centre, becoming the largest private tenant in Hong Kong’s premier business district. The London-based firm will occupy up to 146,000 sq ft of space previously held by UBS Group.

QRT’s lease at Two IFC will begin in 2027, reflecting the firm’s confidence in Hong Kong’s long-term prospects. The deal marks a trend of financial firms upgrading to higher-grade offices in Central. Qube currently leases offices in Central Tower and will expand and upgrade its space under the new lease.

The transaction makes Qube the largest private-sector tenant in the IFC complex, according to property consultancy JLL. With over 2,000 global employees and offices in 13 locations, QRT is expanding in markets like Singapore, Shanghai, and Mumbai. The firm was founded in 2018 as a spin-off from Credit Suisse.

Hedge funds like Qube are committing to large office footprints in Hong Kong’s prime locations, stabilizing sentiment after a prolonged downturn. Hedge fund activity accounted for 18% of Hong Kong’s office leasing volume in 2025, with rents falling over 40% from their peak in 2019. Financial institutions are leading the market recovery.

Market participants expect financial institutions, particularly hedge funds and private banking, to remain active in the office leasing market in 2026. Rents in greater Central have edged up, with an increase in prime tower rents quarter on quarter. New grade A supply is expected to ease in 2026 and 2027.

Read more at Yahoo Finance: Hedge fund Qube leases six floors at Two IFC in one of Central’s largest deals in a decade