Almost 80 per cent of phase one of Hang Lung Group's office-commercial project Plaza 66 - the tallest building in Shanghai's Puxi - is pre-leased.

Hang Lung has an 89 per cent stake in the project, 79 per cent of which is held by its investment property arm, Amoy Properties.

The project, on Nanjing Xi Lu in the Jingan district, will provide 1.88 million square feet of office space in two towers, one of 46 storeys and the other 66 storeys.

It will have five retail levels totalling 592,020 sq ft.

Alexander Lam, director of DTZ Dehenham Tie Leung, the project's leasing agent, said the developers were offering about one-third of the 66-storey office tower for the first phase of pre-leasing.

Monthly net effective rents for office space were between HK$10 and HK$15 per sq ft, while those for retail space were HK$26 to HK$70 per sq ft, he said.

Multinationals, including information-technology firms, had committed to most of the office space, Mr Lam said.

He said the developers would announce the names of the tenants when the building was opened in about three months.

Retailers committed to space included Louis Vuitton, Christian Dior, Chanel, Cartier, Hermes and Celine, he said.

Most of the prestige retailers had taken street-level outlets, which were fully let. The theme of this level was international brand names.

About 90 per cent of retail space on the second level - targeting secondary fashion retailers for women - was leased, he said.

The third retail floor was for men's wear, the fourth for home stores and information-technology products and the fifth floor was for restaurants.

Plaza 66 is near the Portman Ritz-Carlton and Shanghai J C Mandarin hotel.

Hang Lung also built the Grand Gateway commercial-residential complex above Shanghai's largest subway station - Xujiahui - in the Xuhui district.

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