A quarter of Hong Kong companies plan cuts in office space, up from 2023, says Colliers

Quick Summary:

A weak economic recovery and geopolitical uncertainties have had more companies talking about money’ when making rental decisions, according to Colliers.

Ngan said demand for insurance services contracted during the Covid-19 pandemic, but now that business is returning, insurance companies are expanding, with many choosing Tsim Sha Tsui and nearby areas as their first choice.

The logistics and shipping sector had the highest share of respondents cutting their office space because of a weak outlook, followed by the technology, media and telecommunications industry, according to the report.

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Article Details

Author / Journalist: Eric Jiang

Category: Business

Markets: Hong KongChina

Topics: Space Year Survey Kong Office According Business Companies Hong Cent Colliers

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-30 @ 15:00:14 (2 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 471 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21421438

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