HONG KONG (BLOOMBERG) - Multinational companies surrendered more office space in Hong Kong last quarter as the economy deteriorated amid the pandemic, pushing the city's vacancy rate to the highest in 15 years, according to Cushman & Wakefield.. Read more at straitstimes.com.
HONG KONG - Multinational companies surrendered more office space in Hong Kong last quarter as the economy deteriorated amid the pandemic, pushing the city's vacancy rate to the highest in 15 years, according to Cushman & Wakefield.
Tenants gave up a total of 949,000 square feet of floor area in the first six months of 2020, up from 646,000 sq ft in the six months prior. The rate of surrender jumped 55 per cent in the second quarter from the first, to 577,000 sq ft. The surrendering trend is set to continue across the board, said John Siu, managing director in Hong Kong.
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Foreign firms surrendering more Hong Kong office space[HONG KONG] Multinational companies surrendered more office space in Hong Kong last quarter as the economy deteriorated amid the pandemic, pushing the city's vacancy rate to the highest in 15 years, according to Cushman & Wakefield. Read more at The Business Times.
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