Societe Generale Joins DBS in Paring Hong Kong Office Space
- French investment bank is the latest to surrender space
- Firms’ decreasing demand for offices is set to suppress rents
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The list of foreign banks relinquishing pricey office space in Hong Kong is growing, with Societe Generale SA confirming it’s vacating one floor in the Admiralty business district.
The French bank is releasing space in Swire Properties Ltd.’s Three Pacific Place, according to an emailed statement from the lender. Societe Generale’s lease expires this year and it decided to renew for six floors instead of seven, the bank said.