Hong Kong is facing a commercial real estate crisis, with small and medium-sized developers as well as banks under increasing pressure as capital values slide amid lethargic leasing activity, according to JLL. The capital value of commercial property was set to drop by “a further 5 to 10 per cent” this year, said Joseph Tsang, chairman of the property consultancy in Hong Kong. Selling commercial properties at such prices is not “practical or realistic”, he added. That meant the looming crisis...