September office leasing hits 2026 high, Centaline says
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
Hong Kong's office leasing market accelerated in September as companies pushed ahead with expansion and relocation plans during the traditional peak season for commercial leasing. Centaline Commercial said 592 leasing deals were recorded for the month, the highest monthly total so far this year, while total leased floor area climbed to about 1.868 million square feet. The agency said stronger demand in core Grade A buildings, especially from finance, professional services and multinational occupiers, improved market sentiment and laid groundwork for the fourth quarter. It expects office leasing in October to continue on a steady upward path
Key Points
- Centaline Commercial recorded about 592 office leasing transactions in September, up 37.04% month on month and 28.14% year on year
- Total leased office floor area reached about 1.868 million square feet, rising 35.92% from August and 78.78% from a year earlier
- The standout September deal involved three full floors at Cheung Kong Center II, 10 Harcourt Road, Central, totaling about 51,762 square feet
- Based on an estimated average rent of HK$100 per square foot, the Cheung Kong Center II lease would imply monthly rent of roughly HK$5.17 million
- The reported tenant for that Central deal was US quantitative trading firm Susquehanna International Group, while other recent tenants included a Chinese securities house
Why It Matters
Falling vacancy in key Hong Kong office districts and a pickup in large leasing commitments suggest occupiers are becoming more willing to lock in space rather than wait on the sidelines. For landlords and investors, that could help stabilize vacancy, support rents from current levels and improve confidence heading into the fourth quarter