OFFICE : One new building came online and demand remained active
Dear Valued Client,
• In Q3, the TMT, real estate & architecture and traditional finance sectors were the top three demand drivers. Due to the latest regulations , the online education industry has been shrinking, and we have seen several leases broken. However, we expect a limited impact considering the low proportion of total Grade A stock this sector occupies. Active demand in the Hi tech Zone, pushed Financial City’s vacancy to the lowest level city wide.
• Tenants continue to be cost sensitive. We recommend landlords provide customized decorations and fit out to enhance the suite of service offerings to meet the needs of different tenants, especially in submarkets with higher vacancies and supply.