JPMorgan Chase & Co is in talks to rent an office project in West Kowloon area of the Hong Kong Special Administrative Region, in what could be the biggest leasing deal in the city, according to a local media report.

The US bank is looking to move from its existing offices in the Central and Kwun Tong districts and occupy all three towers in the Artist Square Towers development, the report said, citing unidentified sources. The project, spanning 672,000 square feet in office space, is located in the West Kowloon Cultural District near a high-speed railway station to the Chinese mainland.

Developed by Sun Hung Kai Properties Ltd, Artist Square Towers is expected to be completed by 2026. Representatives for Sun Hung Kai and JPMorgan didn’t immediately respond to requests for comment.

If the move materializes, it would see another financial giant relocating out of the central business district. UBS Group AG announced plans last year to merge its offices spread throughout the city to an upcoming project near the high-speed rail station.

The West Kowloon area, across the harbor from Central, is increasingly drawing international firms looking to cut costs and get closer to their mainland clients via the train network. It already houses a number of financial firms including Morgan Stanley and Deutsche Bank AG in International Commerce Centre.