• Office leases subdued in Central but strong in Kowloon, says Knight Frank report

    15 January 2015

    The Grade-A office leasing market in Central was subdued in November, according to Knight Frank’s monthly analysis released in the middle of last month.

    Knight frank 2013

    However, in Kowloon, leasing and sales activity remained strong on the back of the availability of large spaces. Central’s office market has been driven by two main developments, the report says. A lack of availability in the majority of Grade-A office buildings has seen mainland financial institutions find it difficult to secure additional space.

    Also, international finance firms have been downsizing since the financial crisis and require less CBD office space, boosting vacancies. In the residential category, robust activity was registered in the primary sector, with developers actively clearing their stock of flats. In the retail property market, with consumer patterns shifting and ongoing political strife, street-level shops in major districts saw rents decline.

    Video

    The 280-meter-tall Lumina Shanghai, developed by Henderson Land Group and designed by Gensler, is the tallest skyscraper in the Xuhui Riverside District.


    A sophisticated yet modern setting was derived by juxtaposition of Indochine-Vietnamese features and wood-fire inspired material palettes. Re-interpretation of the spatial order of a typical Indochine-Vietnamese mansion has been adopted to give hierarchy, layers and details to the space.

     
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