Companies with more than 500 staff are most likely to consider reducing space.

The adjustment takes effect from 20 August.

Despite a jump in approved loans, mortgage loans drawn down also rose 23.8%.

This contraction marks the fourth consecutive quarter of decline with average vacancy rate hitting nearly 6%.

This comes as economic recession and local political turmoil weighed on buyers’ decisions.

Foreign companies make up 61% of the total surrender of office stock in Q2.

The total consideration for these agreements also dipped 8.8% to $269.02b.

The Hong Kong-based mall was damaged in light of the protests.

Both offices have state-of-the-art facilities and modern working environments.

But the company assured that its cash flow remains sound.

All four offers on the former Kai Tak airport site failed to meet the reserve price.

Grade A office leasing net absorption at its weakest since 2002.

General market declined by 4.1% whilst commercial volumes fell.

Rents in Central also contracted by 3.2% MoM to $116.1 psf.

There has been growing demand from Mainland occupiers in the city’s office sector.

As a result, rents dropped the sharpest by 1.1% MoM to $120 psf.

Vendors were hesitant to accept discounted asking prices.

Office decentralisation efforts prompted it to hit its highest level in five years.

Wanchai/Causeway Bay recorded the largest rental decline.