Office rent collapse stirs wave of upgrades

Take your pick: A general view of the central business district of Hong Kong. With the city-state’s overall vacancy at around 15%, it’s giving occupiers the opportunity to look for better options and at more affordable rental levels. — AFP

HONG KONG: At an industrial-styled office unit in Hong Kong, employees of events company Hybrid Group are enjoying the perks of their new workplace – three times the floor space, a wet pantry and natural sunlight.

The company moved within the central district more than a month ago. It’s also managed to keep one of its old units as storage space due to lower rents.