TRANSPORT & LOGISTICS | Staff Reporter, Hong Kong

High office rents push firms to flee from Central to outer suburbs

Average rent in the suburbs is half of that in Central.

South China Morning Post reported that more European and US companies operating in Hong Kong are moving out of the city’s Central district, relocating their offices to outer suburbs to save on rent in the world’s costliest major urban centre.

"In the latest sign of the change, legal firm Freshfields Bruckhaus Deringer and asset manager Alliance Bernstein will both move out of Central to relocate to Quarry Bay, where the average rental rate is listed at less than half of their current leases," it reported.

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