Sunday, 2 March 2014

Real estate market overview: High-end office space shortage

We believe there is currently a notable shortage of high-end office space in the Colombo central areas. The lack of availability of Grade A space is prompting organisations to refurbish lower grade developments in order to meet the requirement of being centrally located.What we also note is that the developments owned by large corporations have also started letting out entire floors to outside companies whilst relocating some of their own subsidiaries in order to cash in on the high rental rates.

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(Source: Sunday Times)

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