Shanghai faces a towering oversupply of office space

Article Abstract:

Rapid developments in the commercial real estate sector of Shanghai, China is expected to result in an oversupply of office-building spaces over the next three years. The saturation of the property market will eventually lead to significant declines in rent rates. Existing office-space vacancy levels are pegged at an average of 40% and at a maximum of over 70% in other areas. Rent rates, which have declined about 35% or $45 per square meter in 1996, are expected to further decrease by another 25% in 1999.

Economic aspects, Shanghai, China

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Builders stake their turf in battle for heart of Beijing

Article Abstract:

Real estate developers in Beijing, China are competing for a share in a saturated market wit the development of several business districts across the city. Large property developers from Hong Kong such as Sun Hung Kai Properties Ltd, Wharf Holdings Ltd and Kerry Properties Ltd have each developed their own business regions comprised of hotels, offices, apartments, and retail stores. Beijing's office vacancy rates have increased some 40% in 1997, making competition even more critical.

Real estate industry, Market share, Beijing, China, Sun Hung Kai Properties Ltd., Wharf Holdings Ltd., Kerry Properties Ltd.

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Office glut benefits tenants; as prices in Hong Kong fall, companies move

Article Abstract:

Landlords in Hong Kong and across the region are cutting rents as they fight to keep their tenants. The glut in the office space market has resulted in lower rents which has precipitated the move by companies to better-quality buildings at less cost. An example is Goldman Sachs (Asia) LLC which has leased 8 1/2 floors of the Cheung Kong Center for 12 years. The move is said to be prompted by the need for a larger space than its landlord could provide.

Market information - general, Capital expenditures, Hong Kong, Contracts, Buildings and facilities

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