Hong Kong

It was already increased to 6.1 years in March 2022.

Amongst core districts, Tsim Sha Tsui had the biggest vacancy rate.   High-street shop vacancy rose 1.3 percentage points from Q122 to hit 16.5% in Q2 22, data from CBRE showed.   The increase in vacancy was likely due to some landlords, who are under limited financial pressure, opting to leave units vacant rather than renting them out.   This practice was most evident in Tsim Sha Tsui and Mong Kok where vacancy rates were the highest, at 23.2% and 18.9%, respectively.   Whilst vacancy rose during the quarter, rents remained flat. According to CBRE, rents were unchanged from Q122 because “cash-rich landlords with strong holding power prevented some units from transacting at lower rents this quarter.”   In addition to rents being unchanged, leasing volume also increased in Q2, signalling an improvement in the retail property sector.   “Improved retailer sentiment underpinned an increase in transaction volume, although many deals signed this quarter involved short-term leases,” CBRE commented.

It recorded an overall score of 1.98.

It will debut in six months.

It accounted for 15% of pre-tax income for the group.

There are over 130 EFTs listed in Hong Kong.

For the whole year, PwC expects Hong Kong to raise between $180m to $200m.

NIMs are expected to rise and outweigh asset quality deterioration in the near term.

The Chinese leader said the principle was successful.

John Lee was sworn in as Hong Kong’s new leader.

Overall market capitalisation in Hong Kong reached $42t in 2021.

Funds raised in H122 plummeted by 92% YoY. 

Inflows from Mainland China will support the city, but issues are challenging this role.

The supply for flexible workspace is expected to grow by 15% in 2023.

Qualified startups can apply to access extensive biotech funding.

Establishment of the new branch is slated for early 2023.