(Reuters) - Singapore is benefiting from a shortage of office space in Hong Kong as multinational companies expanding in Asia turn increasingly to the Southeast Asian city-state for their regional bases, property developers and consultants said.
They said that while rents are soaring in both cities, there is a much larger supply of new office developments coming up in Singapore to cater to the growing demand. In contrast, firms wishing to expand in Hong Kong will either have to outbid other prospective tenants or move out of the city center. Full story
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