Hong Kong is the most expensive office market in the world.

According to CBRE, Hong Kong's central district remains the world's most expensive office market, surpassing London and Beijing. cars parts

In central Hong Kong, the average annual occupancy cost for office space is US$235.23 per square foot, compared to $222.58 in London's West End and $195.07 in Beijing's Finance Street. Hong Kong had topped CBRE's semi-annual report for the third time in a row.

"Hong Kong Central's standing as a premier global financial hub continues to enhance its position as the most expensive office market," according to CBRE. "Although financial institutions have become more cost-conscious, with some considering transferring to less expensive space outside the CBD, high-quality and premium space is still in demand, particularly by mainland Chinese enterprises setting up offices in prestigious buildings in Hong Kong (Central)."

The other districts in the top five were Beijing's Jianguomen CBD and New Delhi's Connaught Place CBD. For the first time since early 2012, New York's Midtown Manhattan has re-entered the top ten markets, taking the tenth spot.

Jakarta saw the highest percentage increase, with prices rising 38.9% in the prior year, followed by suburban Houston (21.2%), downtown Boston (15.4%), and downtown Houston (14.4%). (14.9 percent).

"While worldwide occupancy cost growth has eased, a scarcity of premium space in major core business hubs has supported continued upward movement in occupancy costs," said CBRE's global head economist, Dr. Raymond Torto. "The most expensive office markets frequently attract regional headquarters of large multinational corporations that demand a great position in a prestigious building with access to significant global and regional transit networks," says the report.

Asia-Pacific has 21 of the 50 most costly markets, EMEA has 18, and the Americas has 11.


A Chinese company has taken control of a project in London.

Dalian Wanda Group, a Chinese corporation, has purchased a London development site for a £700 million hotel and residential tower project.

Dalian Wanda, backed by billionaire Wang Jianlin, proposes to build a 160-room hotel on the site as part of the One Nine Elm redevelopment project, which will be the first Wanda hotel outside of China. The current plan calls for the construction of a 205-meter tower, which would be Europe's tallest residential tower.

Green Property, an Irish developer, has previously gained planning permission to build 43- and 58-story skyscrapers on the property. According to a published source, Green Property made a profit of £90 million on the sale.

"I warmly welcome Dalian Wanda's investment in London as part of our plans to develop Nine Elms into a spectacular quarter of the capital, creating thousands of new jobs and homes," London mayor Boris Johnson said.

Dalian Wang is the owner of a number of businesses, notably the AMC movie theater chain in the United States. It also announced a £320 million deal to buy Sunseeker, a British yacht maker, this week.

In a statement, Wang Jianlin, chairman of Dalian Wanda Group, said, "The One Nine Elms site stands out as an exciting prospect to be part of the transformation of an important portion of one of the world's greatest cities."

On the south bank of the Thames, Nine Elms is a 480-acre property that will be home to a variety of residential, office, and retail buildings.

The purchase of Dalian Wanda is the latest drive by Chinese developers into London. The city announced last month that it had reached an agreement with a Chinese developer to rehabilitate the Royal Docks site.

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