CB Richard Ellis Shanghai
Suite 3201, K Wah Centre
1010 Huai Hai Middle Road
Shanghai, 200031
T 8621 2401 1200
F 8621 5403 7430
www.cbre.com.cn
上海淮海中路1010号嘉华中心3201室, 邮编200031
电话:8621 2401 1200
传真:8621 5403 7430
PRESS RELEASE
FOR IMMEDIATE RELEASE –
For further information:
Shirley Li
Manager
Corporate Communications
CB Richard Ellis Shanghai
T 8621 2401 1215
Asia's Major Office Leasing Hubs Continue to Witness Upward
Rental Movement Driven Largely by MNC Demand
Upbeat occupier demand continued to be witnessed across Asia's leading office markets
within the second quarter of 2006. The sustained requirement fuelled the upward
movement of top grade office rentals almost throughout the region. The Tokyo office
market registered amongst the strongest quarter on quarter growth in leasing levels at
10.8 per cent, as vacancy fell to an all-time-low of 0.6 per cent. In Hong Kong, meanwhile,
the CBD remained the focus of high-end leasing demand as banks and hedge funds
displayed a willingness to pay high rents in their pursuit of the best quality accommodation
in the market. Office rentals in Beijing were steady upwards as the release of a major
quantum of supply within the review period restrained the potential for appreciation amid
significant take-up. In Shanghai, meanwhile, rents continued to increase across-the-board
within the second quarter, driven largely by the high quality specifications of newly-
completed projects against a backdrop of strong, persistent demand. In Guangzhou, the
Tianhe Sports Centre and the Pearl River New City were the two business micro markets
which witnessed the highest level of prime office leasing activity within the second quarter.
Grade A vacancy in Singapore was witnessed as compressing to its lowest level since the

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