High rents drive HKEJ to Ngau Tau Kok

[Oct 2012 - The Journalist] Although HKEJ is owned by tycoon Richard Li, it still could not afford rentals at North Point. It moved over to Kowloon - to United Overseas Plaza in the Ngau Tau Kok industrial area. But some financial reporters are not happy with this. Ngau Tau Kok is far from Central so it is not convenient for them as they frequently have to be in the key business district. Besides, both the quality and variety of lunch fare in the industrial zone – until recently almost synonymous with poverty – is nowhere near North Point standards.

But then, Poor Li Richie wouldn't know about such things, would he?
HKEJ crosses harbour to Ngau Tau Kok, after rents
at North Point were hiked.

It is understood that HKEJ made the shift in order to save on rental costs. Part of the North Point property – on levels 4, 8, 15, 16 and 22 belong to the HKEJ founding family, the Lams, while the rest are owned by other occupants of the highrise industrial building.

Evidently the Lam family did not raise the rental; the other owners insisted on it.  But what HKEJ pays now is very much lower than the North Point rental.  In addition they are getting twice the office space at the same, old cost – and operating as one complete unit instead of working as five different units on different floors with different reception staffs.

Their new address is shared with Sing Pao which has been getting a sampling of HKEJ taste.  Literally.

Soon after HKEJ moved in a nearby cha chaan teng (coffeeshop) got a large meal order from the new occupants. All the meals were delivered to Sing Pao which duly paid for them. Now they have a good idea what sort of tastes the HKEJ folks have.