Beijing office shortage fuels third-highest rents

[BEIJING] John Wong, who leases offices in downtown Beijing's new, 61-storey Fortune Financial Center, has filled 60 per cent of the space in the tower completed in September. He said he's confident the rest will be snapped up.

Tenants at the tower include financial companies such as HSBC Holdings and DBS Group Holdings, according to Mr Wong, head of asset management at HKI China Land Ltd, which built the tower known as FFC.

"It's such a good time," Mr Wong said in an interview. "The companies in Beijing still have the urge to expand, the financial sector that we focus on remains healthy, and we face relatively small competition because supply is limited. We have the conditions to choose the clients we want."