Shanghai
Shanghai is the undisputed heavyweight of China – both in terms of urban population and wealth. With a population of over twenty-four million (as of 2015) the city ranks as the most populous city proper in the world. Shanghai is divided into sixteen county-level districts including: Pudong New District, Huangpu, Jing’an, Changning, Xuhui, Minhang, Putuo, Yangpu and Hongkou Districts. Encompassing the largest and busiest container port in the world, a flourishing financial district, two large international airports – Pudong and Hongqiao, and the planet’s fastest train (the Maglev), Shanghai is no longer just an economic hub for national organizations but numerous international companies as well. Its financial sector is growing with both consistency and strength meaning that the city is set to achieve global financial market status by 2020. These all make Shanghai one of the world’s leading office markets. Shanghai possesses a number of commercial property projects, such as AZIA Center, Shanghai Tower, Shanghai Arch Tower 1, Mirae Asset Tower, Century 333, Jingan Kerry Center Tower 3, Platinum and HKRI Centre. References: JLL 2016 Q4 Shanghai Property Review
Pudong
Jing'an
Huangpu
Xuhui
Changning
Hongkou
Putuo
Yangpu
Minhang
Shanghai’s Pudong and Puxi CBDs have gained tremendously from the growth of the Chinese economy. In turn, various municipal authorities in Shanghai are now vying to be the location of the next successful CBD, and are aggressively sponsoring office and mixed-use developments. The decentralized office market is also seeing consistently strong interest from tenants looking to relocate out of the CBD due to prohibitive costs. This demand is being met by a number of quality projects coming on-stream across Shanghai’s peripheral areas. The development of more business and hi-tech parks in Shanghai’s periphery is encouraging a more focused targeting of specific sectors, particularly manufacturing and pharmaceutical MNCs, as well as domestic high-tech companies. Towards 2020 More corporate tenants to be priced out of the CBD Shanghai to replace Hong Kong as largest office market in Greater China Aspirations towards ‘World City’ status What options should you consider towards 2020? We’re here to provide foresight with purpose. Source: Shanghai Office 2020