Q4 2020 Beijing Office Sector (Market Beat-Cushman & Wakefield)

The Beijing office market is set for approximately 3 17 million sq m of new supply in the next three years, of which up to 1 5 million sq m is due in 2021 Under the weight of the supply influx and ongoing global economic headwinds, we expect overall office vacancy to continue to edge up and for rental levels to face downwards pressure However, in the longer term, as the wave of new supply abates and benefits from the expansion and opening up of the services industry and development of the Beijing Free Trade Zone are gradually realized, we expect to see renewed leasing demand in related financial and high tech industries, and further development opportunities for the Beijing office market.