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Hong Kong landlords may take 7 to 15 years to end office glut, market experts say
The city has 15 million square feet of excess office space, more than all the current space in the main business district
“By the end of this decade, the vacancy pressure is likely going to be very similar to what we are seeing in the market today,” said Marcos Chan, executive director and head of research at CBRE Hong Kong. “That is on an assumption that the market demand will be quite similar to what we used to have, before the market experienced a downturn a couple of years ago.”
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