commercial property

The property has a total gross floor area of about 300,000 sq ft.

Year-to-date, however, volume fell by 7% YoY to US$5b.

Office has been overtaken by other core sectors in terms of investment volume.

Amongst the hardest hit was retail, recording a 6.8% QoQ drop in high street shop rents.   It may take a longer time before things get better for the commercial property market, as the fifth wave slowed down its path to recovery.

Companies are expected to weather out disruptions for up to 6 months.

Office property investment in Hong Kong only brought in $2.3b in 2021.

This marks HK’s first contraction after four consecutive quarters of expansion

Rents rose 1.2% quarter-on-quarter in the second quarter of the year.

CBRE reported office and retail sectors are likely to be the biggest gainers.

The gross floor area sold is approximately 5.96 million square metres.

The Group is estimated to gain £50m in profit.

The demand for medical office buildings in Hong Kong is high, but hard to get.