Search

NEWS
COMMERCIAL PROPERTY | Staff Reporter, Hong Kong
Published: 23 Jun 11
946 views


Office space shortage drives tenants to Singapore

A consultant went on to say that Hong Kong has not managed its land supply well. This as multinational companies expanding in Asia are said to be turning increasingly to Singapore for their regional bases.

A Reuters report said, “While rents are soaring in both cities, there is a much larger supply of new office developments coming up in Singapore to cater to the growing demand. In contrast, firms wishing to expand in Hong Kong will either have to outbid other prospective tenants or move out of the city center.”

Simon Treacy, Group Chief Executive of property fund manager MGPA, was quoted as saying, "Unlike Singapore, Hong Kong has not managed its land supply well. Vacancies are very low in Hong Kong and rents are rising. Some international banks will more actively consider Singapore as the area where they'll expand so on a net-net basis, Singapore's growth will outpace Hong Kong.”

View the full report here.



Sign up for our newsletter

 

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.

Tags: Hong Kong office space, Singapore office space

LATEST COMMERCIAL PROPERTY JOBS »
PRINT ISSUE »

Subscribe Now
HK tweaks insurance regulatory regime

2 views

Choosy Chinese shop elsewhere

1 view

HK entrepreneurs urged to ride the franchising tide

5 views

MOST READ EXCLUSIVES

Here's how a startup aims to market ‘kezhans’ digitally

Here\'s how a startup aims to market ‘kezhans’ digitally

This company has built SaaS digital marketing systems for boutique hotels.

by STAFF REPORTER
9 Jun 2015 | 1147 views
 

A room for video games at GoAnimate’s new office

A room for video games at GoAnimate’s new office

Check out the interior photos.

by STAFF REPORTER
9 Jun 2015 | 961 views

Le Slip Francais brings its fun and authentic French brand in Asia

Le Slip Francais brings its fun and authentic French brand in Asia

And Hong Kong is its new home.

by STAFF REPORTER
16 Jun 2015 | 821 views
 

Boxful: No more cramped spaces

Boxful: No more cramped spaces

This company enters Hong Kong storage wars.

by STAFF REPORTER
23 Jul 2015 | 289 views