Ares Expands Hong Kong Office Footprint in Central Amid Flight to Quality

Ares Management is expanding its Hong Kong office footprint in Central, reinforcing its long-term commitment to the city as global asset managers seek higher-quality space.

Ares will add about 12,500 square feet in Gloucester Tower, where it has been a tenant since 2017, with the new lease taking effect in March, landlord Hongkong Land said.

The Ares Hong Kong office expansion comes as financial firms upgrade premises in the core business district.

Hongkong Land said banks and financial services firms accounted for 42% of tenants in its Central portfolio as of June.

Office rents in Hong Kong fell 2.9% in 2025, the smallest annual decline since 2019, according to CBRE, signalling stabilising conditions for the Ares Hong Kong office expansion.