Asia Pacific Office Outlook 2024

SHANGHAI

NEW SUPPLY

N EW S U P P LY ( S QM )

1,800,000

FORECAST

1,600,000

1,400,000

 From 2024 to 2027, more new supply is expected to enter Shanghai’s Grade A office market, adding over 3.8 million sqm of office space.  2024 will be another peak supply year as a result of projects delayed in the past.  More quality projects will complete in the next 3 to 4 years, and this will bring new vitality and opportunities to the Shanghai Grade A office market in both suburban and core areas.

1,200,000

1,000,000

800,000

600,000

400,000

200,000

0

2021

2022

2023F

2024F

2025F

2026F

2027F

Source: Cushman & Wakefield