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Hong Kong office vacancies double after protests, pandemic

13 Sept 08:04 Key points summarised by AI

Hong Kong's top-tier office vacancies more than doubled over three years, reaching a record 9.6 million square feet, as nearly 950 companies downsized operations.
The surge in vacancies and a 30 percent drop in rents are attributed to political unrest, a subsequent crackdown, and stringent pandemic controls that isolated the city.
Strict border policies prompted some multinational firms to relocate staff or regional headquarters, though no widespread corporate exit was observed.
Future office demand is projected for gradual growth, primarily driven by new and expanding mainland Chinese companies once travel restrictions are eased.

Today 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.