HONG KONG -- Downsizing financial institutions and an increase in empty offices in Hong Kong are paving the way for a resurgence of flexible workspace operators.
Property
Hong Kong financial sector downsizing rekindles flexible office market
Major developers subdivide prime locations to minimize losses
Hong Kong, the world's most expensive commercial real estate market, is in the middle of its longest office downturn, with rents continuing to fall and the vacancy rate for top-grade locations reaching 17%. (Photo by Shinya Sawai)
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