Core Insights - Qube Research & Technologies (QRT) is set to become the largest private tenant at Two International Finance Centre, signing a multi-story lease as falling rents drive a wave of office upgrades across Hong Kong's premier business district [1][4] - The lease will encompass up to 146,000 sq ft across six floors, previously occupied by UBS Group, with the rental amount undisclosed [1][5] - QRT's lease is scheduled to begin in 2027, reflecting the firm's confidence in Hong Kong's long-term prospects [2] Company Expansion - QRT's expansion aligns with a broader trend among financial firms taking advantage of softer rents to upgrade to higher-grade offices in Central [4] - The firm currently leases offices in Central Tower and will upgrade its office space under the new lease at Two IFC [4] - Founded in 2018 as a spin-off from Credit Suisse, QRT has grown rapidly, employing over 2,000 people globally, with about one-third based in Asia [7] Market Trends - The deal will make QRT the largest private-sector tenant in the IFC complex, with the Hong Kong Monetary Authority being the largest single tenant [5] - This transaction is the second-largest office lease signed in Central this year and among the largest in the district over the past decade [6] - Qube joins a growing list of global hedge funds committing to large office spaces in Hong Kong's most expensive locations, with other firms like Jane Street Asia also making significant leases [8]