Banks and brokerages’ growing demand for space buoys Hong Kong’s retail property sector

Hong Kong’s banking and finance sector is tipped to lead retail property leasing activity, with massive uptake by firms like Forthright Securities, Futu Holdings and HSBC providing support to landlords struggling through a multi-year real estate slump.

Forthright Securities leased three storeys totalling 14,000 sq ft at Golden Centre in Sheung Wan for its first flagship branch in the city, according to CBRE, which facilitated the transaction.

“This transaction not only demonstrates Forthright Securities’ forward-looking market insight but also highlights a new trend in Hong Kong’s retail market, which is the rise of financial services in retail leasing,” said Joe Lin, executive director of retail leasing at CBRE Hong Kong.

Lin said the 27-storey prime office tower and retail podium above Sheung Wan MTR station would provide the brokerage with “excellent brand exposure and convenient transport links”.

Forthright Securities is expected to officially open the branch after the Lunar New Year.