Hong Kong’s mid-market property segment abuzz with deal-making: CBRE
Property consultancy CBRE launches Value Properties sub-brand focused on the properties outside prime office and retail markets as an economic slowdown bites
Property consultancy CBRE is targeting the mid-range market in Hong Kong by creating a sub-brand called Value Properties that will address the needs of customers who seek properties outside prime markets.
Value Properties will pave the way for CBRE to capture the demand for non grade A commercial property, initially focusing on office spaces but later on retail and industrial spaces as well, said Michael Wong, senior director at Value Properties.
“We are focusing more on the mid-size occupiers, we are talking about 3,000 to 5,000 sq ft for the office tenants, especially for SMEs [small and medium-sized enterprises], newly set-up companies or even potential tenants who would like to come to Hong Kong from mainland China or from overseas,” Wong said.
CBRE is very keen to expand in this segment, and we see good business and revenue opportunities.”
Check out the full article on SCMP