Pre Covid-19 2020 reaches record take-up levels

  • Office gross take-up was 44,000 sq m in Q1 2020, representing an increase of 5.2% comparing to same period in 2019.
  • Relocation continues to be the main driver for office take-up, weighting 64% of occupied area in Q1 2020.
  • Vacancy rate was 5.6% at the end of Q1 2020 and 3.3% if we exclude the Western Corridor zone.
  • Despite uncertainty, we expect office prime rents to be more resilient to the impact of the outbreak.