Hong Kong’s office fit-out costs recorded a 1.5 percent annual growth, driven mainly by rising metal material costs due to tariffs. JLL’s newly published Asia Pacific Office Fit-Out Costs Guide showed that office fit-out costs continue to rise across many cities in Asia Pacific, driven by labor constraints, material pricing pressures, and the growing complexity of mechanical, electrical and technology systems.
According to data from JLL’s project and development services department, the fit-out cost for medium-quality corporate offices in Hong Kong grew 1.5 percent to $200 per square foot
“Tariffs have pushed up steel and copper prices, increasing the cost of core mechanical and electrical (M&E) works, as well as security, IT and AV systems,” said Ryan Wong, head of project and development services at JLL in Hong Kong. “At the same time, how
