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Christopher Dobson

Sophisticated tenants, demanding  value for money, are shaping the office leasing market as property developers try to match their requirements.
With demand in this sector set to increase in line with regional and global economies,  rental prices and occupancies are reaching new heights as completed grade-A space is released.
Sino Land's general manager, leasing department, Paul Boldy, said the company was continuously striving to adapt to the changing economic environment and customers' needs.
'The services and facilities in our new developments cater to the market's latest needs and requirements,' Mr Boldy said.
'As a leading developer in Hong Kong, we are including more environmentally friendly features in our buildings. For example, sky gardens, green  rooftops and balconies.'
He said corporate clients expected  more for their dollar in terms of service and value in their leased offices.
'This is certainly a growing trend. Tenants have become more sophisticated nowadays, and they look for value for money not just in terms of rentals, but of the services provided by both the landlord and the building management company.'
Compared with last summer, Sino Land has witnessed a continuous demand for office space, both large and small,  local and overseas, as the global economy  soars.
Consequently, Mr Boldy said the availability of space was tight, as more mainland and overseas companies set up offices in Hong Kong.  This also puts pressure on the residential market as firms  either brought in their own or hired expatriate executives, leading to a  demand for luxury accommodation.
'The factor most influencing the office sector is probably the continued economic growth in Hong Kong, China and the rest of the world,' he said. 'This growth potential is fuelling expansion of companies, big and small, and is driving the office rentals and occupancies to new heights.'
And that expansion has created a leaser's market with some buildings at full occupancy, while there is ongoing pressure across the board for high-end space.
But Sino Land is well positioned to cope with demand with a range of properties, including Central Plaza, Sino Plaza and The Centrium on Hong Kong Island and  the Tsim Sha Tsui Centre, Empire Centre and China Hong Kong City in Kowloon.
In addition, Skyline Tower on the north shores of Victoria Harbour is its newest grade-A tower.
Strategically located in the revitalised commercial district of Kowloon Bay, the tower offers panoramic sea views at a prestigious address.
Designed to meet the exacting standards demanded in today's competitive market, the state-of-the art structure represents a new generation of spacious, functional and intelligent buildings.
Choice of office space ranges from 1,223 sqft to an entire floor measuring more than 28,000 sqft, while the 39-storey tower provides a total gross floor area of close to 910,000 sqft.
Skyline Tower also has an eight-level car park annexe, with direct access to the office block, providing parking for more than 360 cars.
Sino Land also caters to those looking for corporate space in the New Territories in the form of the 'casually elegant' Shatin Galleria.  The high-rise acts as a hub for the town, with a banking centre on the first floor and a post office on the ground floor, and  a shopping complex, car park and office tower all in one.
Despite this mature portfolio of building assets,  the constant demand for prime rental space is behind the company's development of three new complexes.
'The growth potential in the office sector is substantial as evidenced by the new office buildings coming into the market to meet the growing needs,' Mr Boldy said. 'Of course we have our grade-A Exchange Tower in Kowloon Bay coming on stream, which is expected to be completed next year.
'Another grade-A office building in Kowloon Bay and a third one on Hennessy Road are  under construction.'
Location has always been a key  factor in choosing where to live, but increasingly it is becoming a factor of where to work as well.
With the decentralisation of the Central business district under way, many large companies are weighing up the merits of moving away from their traditional Central addresses to new sites such as the West Kowloon development, which will include Hong Kong's tallest building, the ICC, in 2010.
'This project will inject a new demand for offices,' Mr Boldly said. 'The office sector will become more vibrant with greater activity.'
But he is confident that with the company's history and wide range of skills it will not only maintain its position in the market, but actually develop as it diversifies to cater to the changing corporate demands.
Mr Boldy explained that Sino Land provided a full range of office, residential, retail and industrial leasing services throughout the city.
'Our office sector is principally in the business of office leasing,' he said. 'But we are actually providing more than just leasing or renting out our office space.'
He said the company provided a complete range of services, including the professional management of buildings, office cleaning, car park management and security duties among others.



Developer aims high to meet tenant needs