Outlook 2023 Greater China

NEW SUPPLY (SQM) SHANGHAI

NEW SUPPLY

2,500,000

 Over 2.1 million sq m of new supply is forecast to enter Shanghai in

FORECAST

2023. Considering the strict pandemic prevention policy

2,000,000

measures earlier this year, many landlords delayed the completion of projects to 2023 and 2024.  Most handover dates are uncertain because landlords currently wish to seek an optimal time to launch in the market.  Future prime projects will complete in both mature and emerging commercial areas. This will provide a further quality-space balance between the CBD areas and the suburban areas.

1,500,000

1,000,000

500,000

0

2020

2021

2022F

2023F

2024F

2025F

2026F

Source: Cushman & Wakefield