Li Ka-shing’s CK Asset Holdings Ltd. and New World Development Co. are among landlords paying higher commissions as new office supply hits the market, said one real estate agent who works with some of Hong Kong’s biggest commercial landlords. Hongkong Land Holdings (SGX:H78
) Ltd. is another, a different agent said.
Hong Kong’s billionaire landlords are paying agents larger commissions for bringing in office tenants as developers struggle to fill empty commercial space in the Asian financial hub.
Paying commissions worth two to three months of rent is the new norm, up from just one month several years ago, according to real estate agents familiar with the matter, asking not to be named because the matter is private. Some are getting as much as four months for landing tenants, one of the people added.
