Hong Kong announced its budget for the 2024-2025 financial year on Wednesday. The announcement came against a backdrop of a weakness in its property and equities markets, and concerns about the.
Commercial premises will need to step up and cover a huge predicted deficit of EV charging stations, while the recycling and storage of EV batteries may spur demand for industrial and warehouse space, the property consultancy says in a report.
The F&B sector, which contributed nearly half of Hong Kong’s retail leasing demand last year driven by new Chinese restaurants, will continue to be the biggest source of demand in 2024 as well, according to CBRE.