Hong Kong is often referred to as Asia’s World City and one of the premier global locations for doing business. Studies have also shown it to be the preferred location for global office occupiers. Perhaps unsurprisingly, it is therefore the world’s most expensive office location.
This is not only due to strong occupier demand, but also due to an acute shortage of office space. In a unique collaboration between a property consultant and an Asian equities research team, CBRE and Daiwa capital Markets have produced a major multi-year outlook report that quantifies the shortage of Grade A office space. The report also goes a step further by proposing specific solutions to the issue to help safeguard the city’s longer term prosperity.
The report investigates:
How much space will actually be required through to 2020 based on projected GDP growth
What Grade A office supply is required over and above the forecast pipeline
Which sites can realistically be fast-tracked to cover the shortfall
What is the existing developer capacity to assume developments of this magnitude.
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