A Cushman & Wakefield Research Publication - 2017 Global Forecast

around 100,000 SF. PRC office demand is expected to remain relatively strong over the next three years, particularly in Hong Kong’s Greater Central area as more PRC companies seek to “go global.” Elsewhere, Shenzhen’s newly developed Qianhai area will also continue to attract many domestic and multinational companies. As of March 2017, Qianhai had 133,000 registered companies of which 41% opened offices—a significant

increase from the 250 companies four years ago, according to data from the Qianhai Authority. Moreover, in March 2017, the Chinese government announced a new “Greater Bay” plan to press forward with development of a city cluster in the Guangdong-Hong Kong-Macao Greater Bay Area, which includes Hong Kong, Shenzhen and Guangzhou. The South China economy is expected to strength further when execution of the Greater Bay plan is implemented in five years’ time.

GREATER CHINA: OFFICE SUPPLY VS. DEMAND 2017 - 2019

100 150 200 250

199.4

132.7

MSF

0 50

2017-2019

Net Absorption

Completions

Source: Cushman & Wakefield Research

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