The economy in recession,Rising cost of building maintenance & Rise in Office activity.

Given these prevalent market conditions upward occupancy costs by way of increased service charge is likely to materialize by way of increased service charge. Given that the service charge in most Grade A and B buildings are expressed as a percentage of the payable rent, the downward pressure on asking

rents is likely to lead landlords increase the service charge as property managers are to keep up the

 standards required to attract blue chip corporate tenantsOver the next 12 months, over 47,000 m2

of office space is expected to be delivered with the likes of Alliance Place (6,670m2 and Kingsway Towers 12,000m2) nearing completion.