Cushman & Wakefield Occupier Research - Oil: The Commodity We Love to Hate

GREATER CHINA

GREATER CHINA MARKET INDICATORS

BEIJING

DALIAN

GUANGZHOU

SHANGHAI

Job Growth

0 45 90 135 Thousand people

-12 -6 0 6 12 Thousand people

0 100 200 300

0 25 50 75 100 Thousand people

Thousand people

Office Absorption

1,000 1,500 2,000

1,000 1,500

0 40 80 120 Thousand sq m

0 200 400 600 Thousand sq m

0 500

0 500

Thousand sq m

Thousand sq m

Office Vacancy

10% 15%

0% 10% 20% 30% 40%

10% 15% 20%

10% 15%

0% 5%

0% 5%

0% 5%

Rent Growth (Q2 15 - Q2 16)

20%

20%

20%

20%

15%

15%

15%

15%

10%

10%

10%

10%

5%

5%

5%

5%

0%

0%

0%

0%

-1.4%

Landlord/Tenant (Q2 16) ( 5 year average availability ratio)

20% 30% 40% 50% 0% 10%

20% 30% 40% 50% 0% 10%

20% 30% 40% 50% 0% 10%

20% 30% 40% 50% 0% 10%

Rent Growth Forecast (Q2 16 - Q2 17)

Pipeline (Completions - Q2 16 - Q4 18)

4,662,044 sq m

4,298,406 sq m

1,847,061 sq m

685,553 sq m

Source: City Statistics Bureaus, Oxford Economics, Cushman & Wakefield Research

34 / Oil: The Commodity We Love to Hate