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.
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.
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.