Banking turmoil threatens Hong Kong office market rebound

Chinese financial companies seen as Central's 'next wave of office occupiers'

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Offices of Credit Suisse at the International Commerce Centre, Hong Kong's tallest skyscraper. A glut of vacant space in Hong Kong could worsen with potential layoffs at Credit Suisse.

PAK YIU, Nikkei staff writer

HONG KONG -- The latest banking turmoil has added to concerns about a recovery in Hong Kong's office market, recently buoyed by renewed interest from the reopening of the territory's pandemic-shut borders.

Sentiment has improved with Chinese companies flocking to Hong Kong to view office space in the past three months -- this after the world's most expensive property market experienced one of its longest slumps with vacancy rates soaring and rents declining during the global health crisis.

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