Tenant mix in Asia's supertall office buildings similar to Downtown Manhattan

Banking and financial services gets large chunk.

Based on research, the tenant mix in supertall office buildings in Asia, noted to be perhaps unsurprisingly, is similar to that in the Downtown district of Manhattan.

According to the research report "The Emergence of Asia Supertalls" from CBRE, the banking and financial services sector accounts for around 55% of the total occupied space in supertall office buildings across the region.

The report also noted that occupiers in this sector lease space in supertall office buildings because of several key differentiators and also because many of them receive incentives from authorities keen to expedite the development of their markets or specific district into a financial center.

As background, CBRE noted that the Downtown district of Manhattan--home to Wall Street--is regarded as one of the world's leading financial centers. In this market, the report noted, tenants in the financial services, business services and legal sectors occupy the bulk of space, accounting for 58% of total tenants.

Here's more from CBRE:

Business services and legal firms are another key occupier of supertall office buildings in the region, accounting for 16% of total occupied space.

As mentioned previously, supporting business units such as accounting, consulting and legal firms need to be in close proximity to the companies they serve in the banking and financial services sector.

The technology and telecommunications (TMT) sector is an up-and-coming user of supertall office buildings and now accounts for 11% of total occupied space in such buildings in the region.

Occupiers in this sector have been increasingly active in leasing prime space in recent years and are upgrading from decentralises areas offering cheaper rents.