Property News · July 17, 2019

Office glut creeps up in Shenzhen, Beijing and Shanghai as trade war saps growth plans while start-ups move to hipper co-working space


A building frenzy in southern China’s version of Silicon Valley has driven the vacancy in Grade A offices to a record high, putting the squeeze on part-time developers whose blind inexperience have led them into the industry.A record 1.79 million square metres (19.27 million square feet) of vacancy, equivalent to 10 of Hong Kong’s IFC towers, stood in Shenzhen at the end of June, requiring about two years to fill up, according to the real estate consultancy CBRE. Half of that empty space lies…

Source : South China Morning Post
Read more…Office glut creeps up in Shenzhen, Beijing and Shanghai as trade war saps growth plans while start-ups move to hipper co-working space

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