Hong Kong landlords may take 7 to 15 years to end office glut, market experts say

Quick Summary:

The city has 15 million square feet of excess office space, more than all the current space in the main business district.

If the current net annual demand for prime office space stagnates at 1 million square feet, it could take 15 years to fill these vacant offices with tenants, according to data cited by Edward Chan, director of S&P Global Ratings.

The seven-year estimate appears to be on the optimistic side.

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Article Details

Author / Journalist: Cheryl Arcibal

Category: Business

Markets: Hong Kong

Topics: Market Space Landlords Prime Kong Years Given Demand Hong Buildings Office

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-24 @ 09:30:14 (1 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 214 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 36 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 27265850

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