More mainland Chinese landlords will open co-working spaces in Hong Kong as a low-risk route into the office sector, say analysts

Hui Wing-mau, the chairman of Shanghai-based Shimao Property Holdings, has just opened a new flexible working space in The Center

The co-working space offers an attractive, low-risk entry point into the broader office rentals sector, says Martin Wong of Knight Frank

Reading Time:3 minutes

Inside Shimao Group’s The Center Space in Central. Photo: May Tse

Published: 12:00pm, 18 Aug 2021Updated: 3:00pm, 19 Aug 2021

More mainland Chinese landlords are likely to enter Hong Kong’s flexible working space, traditionally dominated by local and international investors, as it offers a low-risk entry point to the broader office market, according to analysts.

Hui Wing-mau, the chairman of Shanghai-based Shimao Property Holdings, has become the latest to debut his new co-working space in the world’s most expensive office building, The Center, in the city’s Central district.

Hui, one of the wealthiest tycoons in mainland China, opened The Center Space, a 23,600 square-foot co-working area on the 76th floor of the landmark skyscraper, last week.

“More mainland-backed developers, especially those without a large office portfolio in Hong Kong, will try to operate co-working space in Hong Kong as it is a low-risk route for them to enter the leasing market,” said Martin Wong, head of research and consultancy in Greater China at Knight Frank.

Last October, China Resources, a mainland-based conglomerate, opened the CRB Business Lounge, which offers 24-hour access to fully furnished, flexible offices, in the China Resources Building in Wan Chai.

Select Voice

Choose your listening speed

Get through articles 2x faster

1.25x

250 WPM

Slow

Average

Fast

00:0000:00

1.25x