Colliers' Asia Pacific Office Markets report highlights that despite cost consciousness, occupiers are willing to pay higher rentals for top-quality offices and prime locations to attract talent, explains Mr Mike Davis, Colliers Managing Director of Occupier Services, Asia Pacific.
The data centre market in Hong Kong is estimated to be valued at around US$3 billion in 2023 with the demand is on the rise due to advancements in technology, particularly AI, says Chester Leung, Senior Director, Valuation & Advisory Services, CBRE Hong Kong.
According to Knight Frank’s Asia-Pacific Prime Office Rental Index, the prime office rental market experienced its seventh consecutive quarterly decline in Q1 2024, with Chinese Mainland cities particularly affected.