The price for a developer to maintain occupancy in a prime office property in Hong Kong’s declining market might just be a 12 percent rent cut, according to operating statistics released by one of the city’s top commercial landlords late… Read More>>
Hongkong Land Declares Loss as Rents Slide, Vacancy Rises in Central Office Portfolio
Hong Kong’s sliding office market is pushing the city’s best known commercial landlord into the red, as Hongkong Land late last week declared a loss attributable to shareholders for the first six months of 2023 of $333 million.
The owner… Read More>>
Hong Kong Office Market Continues to Contract in Q2 as Reopening Disappoints
Occupiers in Hong Kong’s Grade A office market gave back 172,700 square feet (16,044 square metres) more than they took up in the second quarter of 2023, mainly due to downsizing by multinational companies in Tsim Sha Tsui and Central,… Read More>>
Singapore Office Rents Flatten in Q2 as New Projects Enter the Market
Grade A office rent growth in Singapore’s central business district slowed for a third straight quarter and nearly ground to a halt in the April-to-June period of 2023, according to JLL.
Gross effective monthly rent for CBD Grade A office… Read More>>
Morgan Stanley Leasing Five Floors at IOI Central Boulevard in Singapore
Morgan Stanley is defying a slowing office market to lease five floors at the upcoming IOI Central Boulevard Towers building in Singapore’s downtown core, Mingtiandi has learned.
The New York investment bank has signed a binding pre-lease agreement with Malaysian… Read More>>
Upgrade Demand Drives Hong Kong Office Leasing as Tenants Give Up More Space
New leasing in Hong Kong’s Grade A office market is being driven mainly by upgrade demand amid more completions this year, according to JLL.
An estimated 3.2 million square feet (297,290 square metres) of new Grade A space is scheduled… Read More>>
Hong Kong Office Leasing Recovery Remained Elusive in Q1 as Rents Fell 1.5%
Tenants in Hong Kong’s Grade A office market gave up 248,000 square feet (23,040 square metres) more than they leased during the first quarter of 2023 as an immediate rebound from the Lunar New Year holiday lull failed to materialise,… Read More>>
Office Rent Growth in Singapore’s Prime Districts Slowed to 0.5% in Q1
Premium and Grade A office rents in Singapore’s core CBD rose 0.5 percent in the first quarter of 2023 compared with the prior three months, slowing slightly from the pace of the previous quarter’s 0.6 percent gain, according to Colliers.
Singapore Central Business District Office Rent Growth Slowed to 1% in Q1
Grade A office rents in Singapore’s central business district rose 1 percent in the first quarter of 2023 compared with the previous three months as growth slowed for the second quarter in a row, according to JLL.
Gross effective rent… Read More>>
Hong Kong Office Market Shrank Again in January as Reopening Fails to Ignite Demand
Hong Kong’s Grade A office market in January saw tenants give back 16,900 square feet (1,570 square metres) more than they took up as leasing activity paused during Chinese New Year, according to JLL.
Optimism sparked by the reopening of… Read More>>
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