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How big is the Hong Kong Office market?

by Prop Office on March 13, 2012 in ,

How much office space is there in Hong Kong? What is the distribution between Hong Kong, Kowloon and New Territories and how is it broken down between Grade A, B and C? See below for a table showing the figures as of end of 2011 sourced from the Hong Kong Ratings and Valuation Department Property Review 2011.

square metres Grade A Grade B Grade C Total
Hong Kong 3,637,200 1,536,800 1,008,000 6,182,000
Kowloon 2,437,500 819,900 480,200 3,737,600
New Territories 669,300 68,000 32,100 769,400
Totals 6,744,000 2,424,700 1,520,300 10,689,000

Some further poking around in their 2011 Annual results shows that Hong Kong Land owns 4,106,000 sqft of Grade A office space in Central Hong Kong which is just over 3.5% of all office space in Hong Kong or around 18% of Central District. The reason for their large and dominant portfolio in Central is because they’ve been around since the beginning and they’ve wisely held onto their properties.