Media OutReach
Contractor Sentiment Generally Positive as the Worst of Price Pressures Ease, According to Office Fit Out Vendors Across Asia Pacific
- Six Greater China cities are ranked in the top 20 most expensive office fit out markets in Asia Pacific
- Hong Kong moves up four places to rank as fifth most expensive fit out market in Asia Pacific, remains most costly in Greater China
HONG KONG SAR – Media OutReach Newswire – 24 March 2025 – The cost to fit out an office in key locations across Asia Pacific has continued to rise, although at a slowing rate, according to findings from Cushman & Wakefield’s Asia Pacific Fit Out Cost Guide 2025.
The global real estate service provider’s annual report showed that fit out costs range from US$195 per square foot (psf) in Tokyo as the most expensive market, to US$58 psf in Jakarta as the least expensive. In Greater China markets, Hong Kong was at US$160, Beijing at US$100, and Shanghai at US$96.
Similarly to previous years and in line with expectations, Japanese cities were the most expensive markets while Southeast Asian cities were the most affordable locations for office fit outs. While there was some fluctuation at a market level and within local currencies, the ranking of most to least expensive fit out costs in US$ per square foot remained largely unchanged, though gaps have narrowed between some markets. Hong Kong was a notable market mover, moving up from ninth to fifth in the Asia Pacific listing, overtaking Auckland, Seoul, Sydney, and Melbourne, due to the strong US$ and consequently the HK$.
Report author Dr Dominic Brown said changes to local fit out costs were largely aligned with the economic outlook of each market and the related office leasing activity.
“As a region, Asia Pacific is one of the more expansionary, and we have seen more growth and slightly more positive sentiment about the market by contractors here than in other regions.
“Measured by both contractor sentiment and actual cost, it appears that the worst of the pricing pressure from recent years has resolved and prices for raw materials are on the way down while tight labour markets continue to drive some wage inflation.”
In local currency, North Asian cities including Tokyo, Seoul and Osaka saw the greatest fit out cost inflation of around 16%, followed by Australian cities, which averaged 11%. India recorded steady inflation of around 3% in most cities. In contrast, slower economic conditions in the Chinese mainland served to dampen contractor pricing change.
Top 10 most expensive locations for average fit out costs in Asia Pacific
| RANK | CITY | AVERAGE COST (US$ PSF) |
| 1 | Tokyo | 195 |
| 2 | Osaka | 191 |
| 3 | Nagoya | 187 |
| 4 | Canberra | 172 |
| 5 | Hong Kong | 160 |
| 6 | Auckland | 158 |
| 7 | Seoul | 156 |
| 8 | Sydney | 153 |
| 9 | Melbourne | 150 |
| 10 | Brisbane | 146 |
Top six most expensive locations for fit out costs in Greater China
| RANK | CITY | Basic Hybrid
(US$ PSF) |
Collaborative Hybrid (US$ PSF) (USD PSF) |
Advanced Hybrid
(US$ PSF) |
| 1 | Hong Kong | 96 | 160 | 257 |
| 2 | Taipei | 61 | 110 | 202 |
| 3 | Beijing | 68 | 100 | 150 |
| 4 | Shanghai | 70 | 96 | 164 |
| 5 | Shenzhen | 68 | 94 | 156 |
| 6 | Guangzhou | 65 | 92 | 156 |
In the Chinese mainland, against the dual backdrop of a slowdown in domestic economic growth and escalating international trade conflicts, tenants have adopted a more cautious approach in their office leasing decisions. Meanwhile, the construction market continues to undergo structural adjustments, and the Consumer Price Index (CPI) has remained at a low level for a long period of time. Office fit out costs in Chinese mainland Tier 1 cities have seen a degree of decline compared to the previous year, as reflected in the 2025 report.”
Read the full report here.
Hashtag: #Cushman&Wakefield
The issuer is solely responsible for the content of this announcement.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (
https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
Media OutReach
Asia Coach Group Partners with Veteran Business Consultant Rick Tam to Launch “Business Breakthrough” Programme for Hong Kong SMEs
Challenging Business Environment Demands New Solutions
Hong Kong’s SMEs are facing unprecedented operational pressures. According to a survey by CPA Australia, 37% of small businesses in Hong Kong struggle to obtain external financing. Data from Airwallex further reveals that 96% of SMEs have experienced cash flow difficulties in the past year. With property asset values declining, banks’ insistence on property collateral for loans has left many enterprises in financial distress.
Responding to Market Needs with Systematic Business Upgrade Solutions
“Hong Kong has never lacked capital—what’s missing is the mechanism to connect businesses with it,” Rick Tam noted. The programme addresses common pain points faced by local SMEs, including declining profits, low business valuations, tight cash flow, and recruitment challenges. Built upon the four-pillar framework of “Commerce, Strategy, Breakthrough, and Structure,” the curriculum covers stabilising cash flow and enhancing financial flexibility, repositioning businesses and improving client quality, reshaping product value and expanding profit margins, as well as systematising operations and attracting investors. The programme commits to helping participants improve cash flow, increase business value, and strengthen their business models within 90 days.
Four Practical Tools for Immediate Application
Participants will acquire four core tools: the “Cash Flow Vortex System” for rapid assessment of financial status and establishing safety buffers; the “A.T.C. Client Leverage Ladder” for repositioning and enhancing client value; the “High-Value Breakthrough Method” for creating products with greater value and trust; and the “Marketing Triangle Matrix” for integrating human resources, client bases, and operational systems to plan business expansion. The programme adopts a six-step progressive model—from restructuring business models, improving profit margins, attracting capital injection, building high-performance teams, and systematising operations, to ultimately helping business owners reclaim their time and freedom.
Instructor Credentials
Programme instructor Rick Tam is a graduate of the University of Hong Kong’s Business School and currently serves as CEO of two family offices and chief consultant to several others. He holds the CFPCM Certified Financial Planner designation. Tam has founded more than nine brands spanning wealth management, securities, and food and beverage sectors, and has guided over 1,000 participants through business expansion.
As Hong Kong’s economy seeks transformation, channelling capital precisely into the real economy through the “Business Breakthrough” approach offers more than a lifeline for SMEs—it injects vital momentum into Hong Kong’s long-term economic development.
Hashtag: #RickTam #AsiaCoach
The issuer is solely responsible for the content of this announcement.
Media OutReach
Zuellig Pharma Strengthens Consumer Healthcare Portfolio with the Acquisition of Zam-Buk® and Vapex® Brands from Bayer
Zam-Buk® is an ointment used for the temporary relief of pain and itch, including discomfort from insect bites. First launched in 1902, Zam-Buk® has retained strong brand equity over the decades and is widely perceived as a trusted household brand. Vapex® is a nasal inhaler used to help relieve nasal congestion. Launched in 1917, Vapex® has built meaningful brand recognition, particularly in Thailand.
The acquisition of the brands supports Zuellig Pharma’s strategic priority to strengthen and scale its consumer healthcare portfolio across Asia. It also marks the company’s second consumer healthcare acquisition, following Propan in the Philippines, reinforcing its focus on building a strong commercial platform for trusted, everyday healthcare products in the region.
Hashtag: #ZuelligPharma #ConsumerHealthcare #ConsumerHealth #Healthcare #Pharmaceuticals #Zambuk #Vapex #Bayer
https://www.zuelligpharma.com/
https://www.linkedin.com/company/zuellig-pharma
The issuer is solely responsible for the content of this announcement.
About Zuellig Pharma
Zuellig Pharma is a leading healthcare solutions company in Asia, and our purpose is to make healthcare more accessible to the communities we serve. We provide world-class distribution, commercialization, and clinical trial support services, underpinned by a strong culture of innovation to support the growing healthcare needs in this region. The company was founded a hundred years ago and has grown to become a multibillion-dollar business covering 18 markets with over 12,000 employees. Our people serve more than 200,000 medical facilities and work with over 450 clients, including the top 20 pharmaceutical companies in the world.
Media OutReach
International Entertainment Corporation to Hold EGM on 26 February 2026 for Proposed Convertible Notes Issuance
DigiPlus Interactive Corp., named as one of the Fortune Southeast Asia 500, together with its subsidiaries, is an innovative digital entertainment group in the Philippines and is a leader in the casinos and gaming industry. On 17 November 2025, the Company entered into the Subscription Agreement with the Subscriber, pursuant to which the Company conditionally agreed to issue and the Subscriber conditionally agreed to subscribe for the Notes in two tranches with a maturity of five years and an interest rate of 3% per annum.
Upon full conversion of the Notes at the initial Conversion Price, a total of 1,600,000,000 Shares will be issued by the Company, representing approximately 53.89% of the issued share capital of the Company as enlarged by the issue and allotment of the Conversion Shares. As such, the Subscriber will be obliged to make a mandatory general offer pursuant to Rule 26.1 of the Takeovers Code, unless the Whitewash Waiver is granted and approved.
The initial Conversion Price of HK$1.00 per Conversion Share represents a discount of approximately 3.85% to the closing price of HK$1.04 per Share as quoted on the Stock Exchange on the Latest Practicable Date (6 February 2026).
The board of Directors (the “Board“) believes that the Subscription would be beneficial to improving and strengthening the Group’s liquidity and financial position on a longer-term basis. In the event that the Subscriber converts part or the full amount of the Notes into the Conversion Shares, it will also broaden the shareholder and capital base of the Company. The Group intends to apply part of the net proceeds raised from the issuance of the Notes of approximately HK$489.22 million for the early repayment of the Promissory Notes and interest accrued thereon (the “PN Repayment“), and approximately HK$392.39 million to early repay the Secured Bank Borrowing to achieve immediate interest savings.
The remaining net proceeds will primarily be used for funding the Investment Commitment and attractive investment/business opportunity(ies); and as general working capital of the Group. The Investment Commitment is currently expected to include capital investments for acquisition of land for the expansion of the Group’s integrated resort in Manila City in the Philippines (the ”Hotel”) and the construction of additional hotel rooms, for provision of other amenities of the integrated resort, and for ongoing upgrades, refurbishments and renovations to the facilities and infrastructures of both the Hotel and the Group’s existing casino (the “Casino“).
The Independent Board Committee, which comprises all the independent non-executive Directors, is of the opinion that (i) the terms of the Subscription Agreement are on normal commercial terms, and the terms of the Subscription, the Whitewash Waiver and the Special Deal (the PN Repayment to the PN Holder) are fair and reasonable so far as the Independent Shareholders are concerned; and (ii) the Subscription, the Whitewash Waiver and the Special Deal are in the interests of the Company and the Shareholders as a whole and as far as the Independent Shareholders are concerned. It, therefore, recommends the Independent Shareholders to vote in favour of the relevant resolution(s) to be proposed at the EGM.
Hashtag: #InternationalEntertainmentCorporation
The issuer is solely responsible for the content of this announcement.
About International Entertainment Corporation (HKEX: 1009)
International Entertainment Corporation is an investment holding company. The Company and its subsidiaries are principally involved in hotel operations, operating the gaming business under provisional licence and leasing of gaming venues at the hotel complex of the Group in Metro Manila in the Republic of the Philippines to a tenant for authorized gaming operation and live poker events in Macau.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn