The cross-border agreement will have a broad-based, rather than a direct, impact on the commercial real-estate sector
The Closer Economic Partnership Arrangement (Cepa), to take effect from January 1 next year, is likely to have a broad-based, as opposed to direct, impact on the local office market, say industry insiders.
'Everyone in the industry is excited about the prospect of Cepa,' said Keith Futcher, managing director, EastPoint Property Management. 'It is a significant step forward and will be beneficial for trade between Hong Kong and the mainland.'
Mr Futcher is positive about the arrangement and the potential benefits, only foreseeing that there may be a rush of applications leading to logistical problems, but it is by no means clear at this point.
'Cepa is full of pregnant promise,' said Mr Futcher, but he does not anticipate the agreement having a direct impact on the office market.
The arrangement was signed to help established companies in Hong Kong enter the mainland market.
