Apartment City

The number of new lettings of office premises in Central in July plunged 75 percent month -on-month, property consultants JLL said. It said leasing activity slowed during the summer holiday, with a net withdrawal of 17, 300 square feet recorded during the period. Mainland banking and financial services firm accounted for 91 percent of all new office premises lettings in Central in terms of floor area. They were also active in sub-market fringes, JLL added. The office leasing transactions included Fortune Fountain Capital which rented 8,900 sq ft at Infinitus Plaza in Sheung Wan as it decided to move out of Central. JLL also said office rents in Wan Chai and Causeway Bay rose by 0. 7 percent month -on-month, as vacancy in the sub-market dropped for the third consecutive month. Midland Realty said a 2,729-sq- ft office unit at Catic Plaza, a grade B office building in Causeway Bay, was rented out for about HK$81,000 a month, or HK$30 per sq ft. In ...