Hong Kong's West Kowloon district is set to become the second-most important office market after Central with new developments attracting financial firms. Leasing activity is expected to be dominated by relocations rather than new company expansions.

Hong Kong’s West Kowloon is poised to emerge as the second-most important office sub-market after Central with the completion of new buildings that will accommodate banks and insurance companies, according to industry officials. However, there was expected to be limited demand from newcomers or via corporate expansion, with leasing activity dominated by relocations and higher vacancy rates in some of the city’s other business districts. The 40-hectare stretch of reclaimed land is being touted as...