2022-06-09-莱坊-大湾区发展报告2022年6月_14页_3mb

Greater Bay Area Development and Hong Kong's Office Hubs

Key Findings

The report highlights Hong Kong's role as a super connector in the Greater Bay Area (GBA) development, which aims to build a globally competitive metropolis by 2035. Infrastructure enhancements and improved capital flows are attracting Chinese mainland businesses to expand their presence in Hong Kong.

Emerging Office Hubs in Kowloon

Three Kowloon areas are identified as emerging office hubs with significant potential:

1. Kai Tak Development Node:

   • Located in the city centre, partly replacing the old airport; expected to become part of CBD2 by 2028.
   • Features: proximity to tourism attractions, planned large-scale office developments (e.g. AIRSIDE), estimated rent HK$36–48/sq ft (up to HK$62–85/sq ft in 2035).

2. Cheung Sha Wan – Lai Chi Kok:

   • Rapidly transforming industrial area into a commercial hub with strong GBA connectivity.
   • Features: developing Grade A office clusters (e.g. PORTAS), existing rent HK$32–40/sq ft, maturing within <5 years.

3. CBD1.5-XRL Station (West Kowloon Cultural District and XRL topside commercial developments):

   • Adjacent to mature Tsim Sha Tsui, directly connected to GBA via rail.
   • Features: world-class cultural integration, high demand from finance and professional services; existing rent HK$85–107/sq ft.

Target Businesses

Chinese mainland enterprises in the following sectors are likely to expand into Hong Kong:

• Biomedical: Driven by GBA’s healthcare cooperation and Shenzhen’s R&D capabilities.
• Family Offices: Attracted by Hong Kong’s professional services and the Cross-boundary WMC pilot scheme.
• TMT (Technology, Media, Telecom): Benefiting from dual IPO listings in Hong Kong and GBA digital growth.
• Emerging Sectors: High-growth industries like livestreaming and designer toys show strong international expansion potential.

Market Drivers

• Lower Rental Costs: Kowloon’s Grade A office rent (HK$30/sq ft) is affordable for GBA mainland enterprises compared to Shenzhen/Guangzhou.
• Infrastructure: The XRL and other transport links shorten travel between GBA cities and Hong Kong.
• GBA Integration: Cross-boundary policies (e.g. Cross-boundary WMC) encourage mainland firms to use Hong Kong as a gateway.

Conclusion

Kowloon's emerging office hubs offer significant advantages in accessibility and cost, positioning Hong Kong as an ideal hub for mainland enterprises expanding internationally. The GBA’s momentum ensures sustained demand for office spaces in these areas.