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Hong Kong Office Market on Record Streak Led by Chinese

  • AIA Group said to be among bidders for Kowloon office building
  • Office prices bright spot as home prices expected to slump
Hong Kong, which boasts the most expensive office rents in the world, has become a sought-after destination for Chinese companies seeking to boost their global brands.

Hong Kong, which boasts the most expensive office rents in the world, has become a sought-after destination for Chinese companies seeking to boost their global brands.

Photographer: Xaume Olleros/Bloomberg
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As analysts start turning bearish on Hong Kong home prices, the commercial property market is showing no signs of cooling, with Chinese companies shelling out record amounts for trophy buildings.

Sellers have reached out to potential buyers including Industrial & Commercial Bank of China Ltd., Bank of Communications Co. and Fosun International Ltd., according to brokers who asked not to be named because the information is private. AIA Group Ltd. is among bidders for a Swire Properties Ltd. commercial building in Kowloon Bay that may fetch HK$8 billion ($1 billion), Hong Kong Economic Times reported Wednesday, citing unidentified people.