Property News · October 21, 2020

World’s costliest office market shows first signs of weakness, as Hong Kong withdraws biggest commercial site this year, developer cuts rent at Kai Tak tower by 20 per cent


In the first signs of a slowdown in Hong Kong’s office property market, the government withdrew this year’s largest commercial site from tender, while Nan Fung Development lowered the asking rent for a grade A office tower under construction at Kai Tak by up to 20 per cent.Bids for the site in Tung Chung, close to Hong Kong International Airport, were received from Sun Hung Kai Properties, CK Asset Holdings and a joint venture of Sino Land and Kerry Properties. About 90 per cent of the project…

Source : South China Morning Post
Read more…World’s costliest office market shows first signs of weakness, as Hong Kong withdraws biggest commercial site this year, developer cuts rent at Kai Tak tower by 20 per cent

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