‘It’s overall a pretty outstanding location, and pretty outstanding locations will be successful,’ Christian Ulbrich says.

Rents in Singapore’s office market rose in the first three months of the year, shaking off two consecutive quarters of declines as some tenants snapped up limited premium spaces and others renewed their leases instead of relocating owing to cost considerations, according to Colliers.

The city’s commercial real estate market recovered partially in the first quarter of 2024 and is gearing up for further stabilisation this year as a rebound in consumption and policy support drive demand for leasing and investment, analysts say.

‘We want to be careful and we want to cement real businesses, which are happening at the moment … there are talks already,’ Amira Lobaton from prince’s private office says.

UAE prince’s Hong Kong private office shares space with established casino-linked firm; news comes after surprise postponement of opening.

Office says ‘urgent matters in Dubai required the sheikh’s attention’.

The 14-storey office tower in West Kowloon will bring the bank’s staff, who are currently spread around the city, under one roof and will also be used to host VIP client meetings. UBS expects to move into the building by 2026.

The developer of Belgravia Place says it will launch 7,100 new homes this year, 5 per cent fewer than the 7,655 units offered in 2023. The firm reported flat underlying profit of US$1.2 billion last year.

US banking giant Bank of America plans to relinquish a big chunk of prime office space in Hong Kong as part of cost-saving measures, delivering a blow to the office segment.

The commercial property leasing market across most Asia-Pacific markets is improving, except in Hong Kong and mainland China where sentiment is particularly downbeat, according to CBRE.

Conglomerate reports record profit of HK$36.2 billion (US$4.6 billion) for 2023, nearly eight times better than 2022’s HK$4.7 billion.

Harbour City and Times Square owner’s full-year 2023 profit fell 3 per cent to US$767.3 million even as revenue jumped 7 per cent. The company hopes to overcome headwinds through promotional activities with the Hong Kong government.

Goldin Financial Global Centre, the former headquarters of Chinese tycoon’s Goldin Financial Holdings in Kowloon Bay, has been renamed The Bay Hub.

Hong Kong’s grade A office rents will decline by another 5 per cent this year, as demand from mainland China-based companies has yet to return to pre-pandemic levels and vacancy rates remain high due to new completions, analysts said.

Owners of commercial properties in Shanghai are under pressure to cut rents to support restaurants and retailers facing the daunting task of sustaining their businesses amid lacklustre consumer demand.

Commercial premises will need to step up and cover a huge predicted deficit of EV charging stations, while the recycling and storage of EV batteries may spur demand for industrial and warehouse space, the property consultancy says in a report.

The church has secured several floors at the property at 413-423 King’s Road as its ‘future permanent home in Hong Kong’, it said in a statement on its website.

More office landlords and flexible work space operators are likely to form partnerships that will do away with the traditional lease business that has been ‘catastrophic’ for the industry, according to the founder of The Work Project.

Franklin Templeton, which has leased 21,700 sq ft on the 62nd floor of Two IFC, will shift from its present premises in Chater House. Last week, China Re leased 6,740 sq ft in the 88-storey tower.

State-owned reinsurance company China Re Asset Management is moving to the 41st floor of Hong Kong’s Two International Finance Centre in Central, where it has leased 6,740 sq ft for the same price it paid for its previous offices in Three Exchange Square.

Investment in Hong Kong property fell by 28 per cent to HK$37 billion (US$4.73 billion) last year, its lowest level since the 2008 financial crisis, but is expected to rise to HK$50 billion in 2024, Colliers says.

A weak office market in Shanghai is offering tenants the chance to strike lucrative leasing deals, allowing companies to save on rent amid a glut of new building supply and a slowing economy.

China’s office sector will remain a tenant’s market in 2024, and rents will continue falling pressured by an economic downturn and new supplies, property analysts said.

The amount fell by more than a fifth from the same period a year ago to US$21.3 billion, the lowest figure since the second quarter of 2010, according to a report by property consultancy JLL.

The stories behind the distinctive round windows and the unobstructed harbour view of what was once the tallest building in Hong Kong.

Hybrid work arrangements, which include some combination of working from homes working at a desk in remote co-working spaces and coming into traditional offices, are a way to create significant cost savings.

Shanghai’s office vacancy rates have continued to rise, as corporate tenants tighten their purse strings and new supply comes online, and rents have continued to decline.

The Hong Kong government will tender only a single parcel of land in the current quarter, as sales have been scaled down because of poor response and prevailing market conditions.

Hong Kong and mainland China might be facing headwinds currently, but investors should not write them off as investment opportunities still abound, analysts say at a family office conference hosted by the Post.