Hong Kong office vacancies double after protests, pandemic

Real estate investment firm CBRE says departing firms from the United States, Europe, Middle East and Asia are behind the reduced office occupancy seen in Hong Kong. – EPA pic, September 15, 2022.

THE amount of vacant top-tier office space has more than doubled in Hong Kong over the last three years as companies downsize operations, researchers have found, warning that demand could remain soft even if pandemic controls are lifted.

The data adds to warnings that Hong Kong’s lustre as a business hub has been dulled by political unrest and a subsequent crackdown. Pandemic curbs have also kept the city internationally isolated while rivals reopen.

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