XN000022-1994-02-22 — Page 9

OFFICES

TUESDAY, FEBRAURY 22, 1994

8

THE OVERALL SUPPLY IN 1993 DROPPED TO 413,000 SQUARE METRES, WHICH IS 27 PER CENT LESS THAN THE 1992 SUPPLY AND ABOUT 12 PER CENT LESS THAN THE 472,000 SQUARE METRES FORECAST IN LAST YEAR'S REVIEW.

TAKE-UP EXCEEDS SUPPLY BY 30 PER CENT AND HENCE CAUSED THE VACANCY RATE TO DROP FROM 9.7 PER CENT AT THE END OF 1992 TO 6.7 PER CENT.

A

SIMILAR AMOUNT OF SPACE, AT ABOUT 420,000 SQUARE METRES, IS FORECAST то BE COMPLETED IN 1994, WITH 27 PER CENT MORE (535,000 SQUARE METRES) COMING ON STREAM IN 1995.

WAN,

WHILST THE NEW FLOOR SPACE WILL MOSTLY BE FOUND IN SHEUNG WAN CHAI, NORTH POINT AND TSIM SHA TSUI, ABOUT 185,000 SQUARE METRES IS EXPECTED IN THE NON-TRADITIONAL OFFICE AREAS OF HUNG HOM, KWUN TONG AND SHA TIN.

GRADE A

THE SUPPLY OF GRADE A SPACE IN 1993 FELL TO 190,000 SQUARE METRES, A 44 PER CENT DROP FROM THE PRECEDING YEAR. WITH AN INCREASED TAKE-UP OF 367,000 SQUARE METRES, VACANCY AT THE END OF THE YEAR DROPPED TO 4.8 PER CENT OF THE TOTAL STOCK.

SUPPLY IN 1994 IS EXPECTED TO REMAIN LOW AT 208,000 SQUARE METRES WITH NEARLY HALF OF THE SPACE TO BE IN TSIM SHA TSUI. REMAINDER WILL BE IN HUNG HOM, KWUN TONG AND SHA TIN.

THE

WHILST FORECASTS FOR 1995 SHOW A SLIGHTLY HIGHER FIGURE OF 254,000 SQUARE METRES, ONLY 27 PER CENT OF THE SPACE WILL BE IN CORE OFFICE DISTRICTS.

FOR CENTRAL, SUPPLY WILL BE VERY TIGHT WITH ONLY 1,000 SQUARE METRES FORECAST TO BE COMPLETED IN THE COMING TWO YEARS.

GRADE B

GRADE B SUPPLY IN 1993 WAS 145,000 SQUARE METRES, BEING AT A SIMILAR LEVEL TO THE PRECEDING YEAR.

A YEAR.

TAKE-UP WAS LESS THAN SUPPLY PROBABLY OWING TO THE FACT THAT NUMBER OF LARGE DEVELOPMENTS WERE COMPLETED NEAR THE END OF THE VACANCY AS A RESULT INCREASED SLIGHTLY TO 10.3 PER CENT OF STOCK.

SUPPLY IN 1994 IS EXPECTED TO DROP BY ABOUT 7 PER CENT ΤΟ 135,000 SQUARE METRES BUT THE POSITION SHOULD IMPROVE IN 1995 WITH COMPLETIONS OF 205,000 SQUARE METRES.

MUCH OF THE SPACE COMING ON STREAM IN 1994 WILL BE IN SHEUNG WAN AND WAN CHAI WHILST IN 1995, A CONSIDERABLE AMOUNT WILL BE FOUND IN ABERDEEN AND IN NORTH DISTRICT IN THE NEW TERRITORIES.

/GRADE C