Hong Kong’s office market is hollowing out as vacancy rate hits 10-year high. Who can save the landlords?

Hong Kong’s office landlords are facing the biggest crunch in a decade as rents slide and vacancy rates in the city’s notoriously pricey market reached the highest level in a decade.About 1.1 million square feet (102,193 square metres) of space in Central business district would have been vacated by businesses by the end of last month, CBRE estimates. Imagine a totally empty HSBC headquarters, or two blocks of One IFC Tower. At 8.5 per cent, the vacancy rate is the highest since December 2009…

from South China Morning Post https://www.scmp.com/business/companies/article/3088487/hong-kongs-office-market-hollowing-out-vacancy-rate-hits-10-year