Hong Kong's office market faces glut risk despite China reopening

Demand from mainland companies not expected to keep up with supply increase

20230110 HK property story

Hong Kong’s office property market is on track for its biggest glut in nearly 20 years, according to some projections. © Getty Images

PAK YIU, Nikkei staff writer

HONG KONG -- Hong Kong's office property market is on track for its biggest glut in nearly 20 years despite hopes that a reopened border would spur demand from the mainland, analysts say.

The financial hub has been hoping that Chinese companies would flock back after nearly three years of travel restrictions along the border with Shenzhen, but a spate of newly finished construction projects and economic uncertainty in China could keep supply and demand out of balance for months to come.

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