Advertisement
More mainland Chinese landlords will open co-working spaces in Hong Kong as a low-risk route into the office sector, say analysts
- Hui Wing-mau, the chairman of Shanghai-based Shimao Property Holdings, has just opened a new flexible working space in The Center
- The co-working space offers an attractive, low-risk entry point into the broader office rentals sector, says Martin Wong of Knight Frank
Reading Time:3 minutes
Why you can trust SCMP
More mainland Chinese landlords are likely to enter Hong Kong’s flexible working space, traditionally dominated by local and international investors, as it offers a low-risk entry point to the broader office market, according to analysts.
Advertisement
Hui Wing-mau, the chairman of Shanghai-based Shimao Property Holdings, has become the latest to debut his new co-working space in the world’s most expensive office building, The Center, in the city’s Central district.
Hui, one of the wealthiest tycoons in mainland China, opened The Center Space, a 23,600 square-foot co-working area on the 76th floor of the landmark skyscraper, last week.
“More mainland-backed developers, especially those without a large office portfolio in Hong Kong, will try to operate co-working space in Hong Kong as it is a low-risk route for them to enter the leasing market,” said Martin Wong, head of research and consultancy in Greater China at Knight Frank.
Last October, China Resources, a mainland-based conglomerate, opened the CRB Business Lounge, which offers 24-hour access to fully furnished, flexible offices, in the China Resources Building in Wan Chai.
Advertisement
Co-working offices operated by landlords is a space that has been dominated by major local operators such as Hongkong Land, Great Eagle Holdings, Swire Properties and Henderson Land Development.
Advertisement