According to a report by JLL more Chinese companies are relocating in the prime business district Central while multinational corporations are increasingly moving to outer suburbs of Hong Kong.
Many multinational corporations explain their decision by looking for modern buildings as IT facilities are critical and being closer to their clients. Lower costs and the modern infrastructure of those districts such as the South Island Line and the Central-Wan Chai Bypass motivate multinational companies to leave the Central Business district.
In contrast companies from China keep expanding in Hong Kong and also focus on the world’s most expensive office market. After a record year of mainland enterprises snapping up 43 per cent of all new lettings in the city’s Central financial district according to JLL.
The opening of China’s capital market and the improved access between Hong Kong and China has led to this development.
The majority of Chinese companies see their opportunity of growing their business outside of China and improving their brand image by setting up their business in Hong Kong, which remains one of the leading business centers in the world.