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Office vacancy rate down
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VACANCY rate at Grade A offices in Pudong’s Central Business District area fell to the lowest in six years in the second quarter of this year as a result of increasingly active demand from domestic financial services tenants and limited supply, a leading international property adviser said.
The average vacancy rate at Grade A offices in the Pudong CBD area stood at 2.4 percent during the April-June period, the lowest since the fourth quarter of 2007, Jones Lang LaSalle said in a report yesterday.
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