Shanghai in China is emerging as the preferred location for the regional headquarters of luxury fashion retailers. Photo: Xinhua
Relocation of top luxury brands’ regional headquarters to China likely to weigh further on Hong Kong office rents
- Many luxury retailers are looking to shift their regional operations to China to be close to their main growth market
- Grade A office rents to decline by 5 to 10 per cent this year, after falling 17 per cent in 2020, says Savills
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Hong Kong property
Shanghai in China is emerging as the preferred location for the regional headquarters of luxury fashion retailers. Photo: Xinhua