Hong Kong Developer Opens New Offices Amid Record Vacancy
- Sino’s building targets art galleries, wealth-management firms
- Lower rents make building competitive compared with Central
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A Hong Kong property developer is bringing new commercial buildings to the market even as the competition for tenants intensifies amid record-high vacancies.
Sino Land Co., controlled by tycoon Robert Ng, has a pair of commercial buildings opening in Hong Kong’s non-core areas to capture demand for cheaper office space outside traditional districts like Central. One of them is Landmark South in Wong Chuk Hang, a former industrial area that’s a 15-minute drive from Central.