April 20, 2023
China’s commercial real estate market is expected to recover in 2023, with logistics and industrial sectors being the brightest spots, according to Anthony Couse, CEO of JLL Asia Pacific. In the country’s office market, businesses are resuming operations and readjusting office space strategies before the market strengthens further. Demand arising from China’s modernisation drive will energise specific sub-sectors, such as modern logistics, cold storage, data centres, business parks and life sciences, which are all key infrastructure underpinning the modernisation drive. Meanwhile, the commercial real estate investment market in the country’s major cities has seen a notable increase in market vitality, fuelled by the economic recovery. The acquisition of Suning Life Plaza, a Beijing-based complex, attracted market attention. Logistics demand in China is anticipated to be stronger than in other sectors and institutional capital will continue to pile in due to the positive outlook. In addition, rental housing real estate investment trusts are expected to boost confidence in the commercial real estate market.
Source: ChinaDaily.com
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