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<HK Home>JLL on HK Govt Halting Sale of Commercial Sites: Mkt Can Absorb Existing Supply, Await Econ Recovery
Recommend 34 Positive 59 Negative 21 |
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The Hong Kong government announced its latest Budget today (26th). Alex Barnes, Managing Director and Head of Markets at JLL in Hong Kong, opined that there are currently about 14 million square feet of Grade A office space vacant in Hong Kong, with an additional 7.3 million square feet of new commercial buildings to be completed from 2025 to 2029. Consequently, the vacancy rates will have to face upward pressure inevitably. As the government halts rolling out any commercial site for sale, Barnes added that the market will be granted more time to absorb existing supply and wait for economic recovery. AAStocks Financial News |
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