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community - building
Office buildings providing high specification, cost-effective space within a community environment are increasingly sought after by occupiers.
Swire Properties’ commercial precincts and Hongkong Land’s Central portfolio were created by connecting portfolio office buildings and establishing shared commercial amenities. Other examples of community-building include Wharf’s Harbour City and Hysan’s Lee Gardens.
Some newer decentralised office markets, such as Kowloon East, have seen relatively higher vacancy than Hong Kong East owing to their high volume of new supply, further distance from the CBD and lack of a strong community feel.
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