ASIA PACIFIC OUTLOOK 2025

SHENZHEN

NEW SUPPLY

Approximately 0.28 million sq m of new office supply is slated to enter Shenzhen's Grade A office market in 2024. Given that much of this year’s new supply of offices is yet to be put on the market, overall stock is expected to surge notably to reach 9.5 million sq m in 2025. New supply will peak in 2026 at around 1.26 million sq m, which is set to exert additional pressure on office landlords.

1,400,000

FORECAST

1,200,000

1,000,000

800,000

600,000

400,000

NEW SUPPLY (SQM)

200,000

-

2022 2023 2024F 2025F 2026F 2027F 2028F 2029F

Cushman & Wakefield

ASIA PACIFIC OUTLOOK 2025

Source: Cushman & Wakefield