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China’s Bytedance is setting up a regional HQ in Singapore’s One Raffles Quay
Technology occupiers led by Chinese groups are poised to transform Grade A office markets in Asia Pacific, accounting for at least a fifth of regional leasing demand from 2020 to 2025, according to research from Colliers International.
The need for space for Asia’s growing tech firms is expected to exceed 5.5 million square metres (59.2 million square feet) over the six year period, or more than 20 percent of the regional total of 26.4 million square metres.
Demand from China’s tech titans alone will make up 4 million square metres or 15 percent of the region’s total, Colliers said in its Asia Pacific Property Markets: Themes for 2021 report released on Monday.