Real estate mogul Li Ka-shing's Hong Kong office towers have high vacancy rates, reflecting the city's weak office market.
Real estate mogul Li Ka-shing's office towers in Hong Kong remain largely empty, reflecting the city's weak office market. Cheung Kong Center, CK Asset Holdings' flagship property, has been 25% vacant for a year, while the new Cheung Kong Center II has only 10% of its space leased. Hong Kong's office vacancy rate reached a record high of 16.7% in Q1, and rental prices fell 35% since the 2019 peak, according to CBRE.
May 28, 2024
3 Articles