Offices-170,000m2 total stock 200-240 US$/m2/pa average prime rent
Retail-60,000m2 shopping malls 120-240 US$/m2/pa prime rent
Hotels-2 international-grade hotels 300 US$ average room rates.
Office lettings remain sluggish however, primarily a result of the oversupply of secondary product,
which is well below international standards in terms of design and specification. Although prime properties
in commercial markets are holding their rental and capital values, the market is expected to remain
subdued over the medium term, with increased construction and financing costs, as well as tax hikes,
further impacting the sector’s prospects.
