Published:
Hongkong Land Central office vacancy surged to 5.9%
Management expects a decrease by year-end.
Citing Hongkong Land’s Interim Management Statement, Barclays said office leasing activities in Central remained low.
The vacancy of HK Land’s Central office increased to 5.9% as of 5 Nov 2013 from 5.6% at end-June. HK Land expects its office vacancy to decrease before the year-end.
Rental revision continues to be largely positive. On the retail front, HK Land’s portfolio is fully occupied and rental revision was positive. In Singapore, its office vacancy was reduced to 2.4% from 3.1% at end-June, with rents stable.
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