Mainland brokerages, asset managers driving HK office rents
Chinese firms expanding as MNCs scale back, seek lower rents to cut costs
Wed, Feb 18, 2015 - 5:50 AM
"We're seeing individual cases of space being returned, but it's not a trend happening with every (MNC) bank," said Jones Lang LaSalle's Mr Yien. "With a low vacancy rate of 3.7 per cent in Central, I don't see a huge impact on the market."
CHINESE brokerages and asset management firms are underpinning Hong Kong office rents as the city cements its financial market ties to the world's second-largest economy.
Prime office space leased by financial companies north of the border was 148,000 square feet last...