Commercial Office

A 20-year low of only HK$17.8 billion was raised in H1.

Find out what to expect from the market for the rest of 2023.

Various sectors drove demand during the quarter.

Nearly 12m sq ft of new office projects were completed in Q2.

That is despite offering attractive rental levels.

Leasing volumes were at 17.4 million sq ft during the quarter.

Most of it will primarily be in Central and Wan Chai.

Bulk of the supply will be from Mori Building’s two developments.

Fintech firms accounted for 25-40% of office leasing in Mumbai in the last two years.

Excess supply across APAC is expected to be the lowest globally.

This sector accounted for a fifth of new leases in H1.

New office supply will drop to less than a million sq ft.

It’s a marginal increase from the previous month’s 12.4%.

Volumes hit over 3msf during the quarter.

The total takeup in H1 was at 5.6msf.

This is higher than the 3% forecast released late last year.