UOB Hong Kong CEO Sees Signs Of Recovery In Commercial Property

UOB Hong Kong Chief Executive Timothy Tan said buyers are appearing in the property market and leasing demand, especially in Central, has increased, with local business activity supporting office demand, according to Ming Pao. Tan, who took over as chief executive of UOB (Hong Kong) earlier this month, said investors remain cautious about the future path of interest rates and geopolitical risks involving China and the U.S. remain, adding that it is too early to conclude the worst is over. He said Hong Kong and mainland China account for about 10% of group income and that Hong Kong commercial property credit risk will not have a major impact on the group.