Tianjin
Tianjin is located in China’s north-eastern Bohai Bay area, about 140km south-east of Beijing. It is the biggest port city in North China and also one of the four municipalities in China along with Beijing, Shanghai and Chongqing. This superior location and good port resources promotes the development of trade, shipping and logistics in Tianjin. This traditional manufacturing city, in recent years, sees rapid development in aerospace industry, high-end assembly and bio-pharmaceutical, which boost the upgrading of industrial structure. At the same time, with gradually rising of tertiary industry of financial and commercial service, start from 2015, Tianjin is developing into a city lead by tertiary industry. There are 16 administrative regions under Tianjin municipal government’s administration, including Heping, Hexi, Nankai, Hongqiao etc. and a state-level new area Binhai New Area. There are 15 million permanent residents in Tianjin. Through more than two decades’ development, several main business circles have been formed in Tianjin, including Nanjing Road – Xiao Bai Lou Circle with key projects such as the Exchange Tower, Vantone Center and Lu Neng International Center etc. With more and more projects entering the market, the new business circle is emerging, such as New Ba Da Li area, which also help expanding the office building market.
Heping
Hexi
Nankai
Hedong
Hebei
Hongqiao
Xiqing
Binhai New Area
Since 2015, Tianjin has seen a large wave of new office building construction. The market could be summarized as: 1. Because of Tianjin’s large geographic size, companies generally choose to be located in central Tianjin, or the city’s Binhai New Area, two distinct areas. Most overviews of Tianjin’s office market only cover the first area, due to the concentration of and abundance of options there. 2. In central Tianjin there are three main clusters of Grade A office buildings in the Nanjing Road-Xiaobailou submarket, Old Town-Haiguang submarket, and the Haihe Riverside submarket. Additional areas are emerging including the New Badali area as well as concentrations of buildings in more suburban locations 3. Tianjin has a strong industrial base and many office occupiers including industrial firms, shipping firms and traditional finance and professional service firms are the main drivers of office demand.