Global EditionASIA 中文雙語Fran?ais
    Business

    Investors bullish on Beijing's office realty market

    By Liu Yukun | China Daily | Updated: 2020-08-10 00:00
    Share
    Share - WeChat

    Investment activity in Beijing's office market stayed strong in the second quarter despite the COVID-19 challenge, according to property industry data.

    Buoyed by the second-quarter activity, total first-half investment rose to more than 27 billion yuan ($3.86 billion), according to JLL Beijing's Second Quarter Property Market Review report by Jones Lang LaSalle Inc.

    Although lower than the year-ago figure, the investment volume was still relatively high and included a few high-profile deals, the report said.

    "We see that investors continue to be highly interested in core areas, particularly when it comes to assets with real upgrade and growth potential; other deals transacted in the quarter included the emerging and suburban areas, demonstrating investors' growing confidence in decentralized areas," said Michael Wang, head of capital markets for North China at JLL in Beijing.

    Among the high-profile deals was Baring Private Equity Asia's foray into the Beijing property market in April. The investment firm purchased Arca Building in Zhongguancun Software Park from Singaporean Mapletree Group for 750 million yuan.

    Meanwhile, Zhonghong Building, an unfinished commercial tower in Chaoyang district, was sold through an online auction to China Orient Asset for 3.3 billion yuan, the report said.

    While the recent resurgence of COVID-19 cases in Beijing will further weigh on the market, it can also be expected that this difficult period will make way for future opportunities in the market, according to the report.

    As fallout from the virus outbreak results in project delays, property buyers may find new opportunities as sellers with a preference for completing transactions sooner than later, consider more competitive prices.

    Despite lingering uncertainty, investor confidence in the long-term outlook remains strong, as indicated by robust first-half sales volume.

    Uncertainty and worries in the property market intensified due to the coronavirus pandemic and government measures like social distancing in response, and their overall likely impact on the industry's future.

    "While the fallout from COVID-19 is presenting a challenging time in the market, forward-looking investors continue to focus on the longer-term outlook as they pursue opportunities in Beijing," Wang of JLL said.

    According to the Global Real Estate Transparency Index report produced jointly by JLL and LaSalle Investment Management Inc, Beijing has become the major destination for cross-border real estate investment, with institutional money helping to improve transparency, increase professionalism and expand access to market data.

    The real estate industry in major cities on the Chinese mainland is categorized into "transparent" tier, among the top global improvers, based on quantification of 210 elements of transparency.

    A recent report by global real estate service provider Savills showed Beijing's office realty market is now recovering.

    According to the Savills report, a new project, Samsung Tower, was launched in the second quarter. The project is in the national capital's central business district core plot area and will bring 100,000 square meters of office space to the market, the report said.

    The fresh outbreak of COVID-19 cases in June was quickly contained, it had limited impact on Beijing's office realty market in general. The market coped well in the second quarter and activity resumed during the quarter, the Savills report stated.

    Launch times of planned projects are expected to be delayed to the second half of this year or the first half of 2021. Beijing's office realty market is set to see more severe challenges for absorption when the supply influx appears.

    "Beijing's office market is expected to go through more tough times in the second half due to a slowing macroeconomy, softening market demand and a significant supply influx," said Vincent Li, associate director of North China at Savills.

     

    Potential investors check out commercial building models at a real estate agency in Qingdao, Shandong province, in July. YU FANGPING/FOR CHINA DAILY

     

     

    Today's Top News

    Editor's picks

    Most Viewed

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    亚洲AV永久纯肉无码精品动漫| 婷婷综合久久中文字幕蜜桃三电影 | 在线免费中文字幕| 成人无码午夜在线观看| 日本无码WWW在线视频观看| 亚洲精品无码久久久久AV麻豆| 亚洲gv猛男gv无码男同短文| 久久精品中文字幕第23页| 亚洲午夜无码AV毛片久久| 日韩在线中文字幕| 97久久精品无码一区二区天美| 亚洲精品无码高潮喷水在线| 中文字幕视频在线| 久久久噜噜噜久久中文字幕色伊伊| 国产爆乳无码一区二区麻豆| 亚洲国产精品无码久久98| 合区精品中文字幕| 中文字幕二区三区| 国产在线精品一区二区中文| 亚洲一级特黄无码片| 国产成人无码一区二区三区| 亚洲AV无码精品无码麻豆| 夜夜添无码一区二区三区| 日韩精品无码人妻一区二区三区 | 无码任你躁久久久久久| 成年午夜无码av片在线观看 | 亚洲精品无码久久不卡| 久久精品无码一区二区三区日韩| 久久久久亚洲av无码专区导航 | 久久久久亚洲av无码专区喷水| 在线播放无码后入内射少妇| 久久人妻无码中文字幕| 日韩AV高清无码| 亚洲爆乳精品无码一区二区三区| 亚洲爆乳无码一区二区三区| 无码专区狠狠躁躁天天躁| 日日麻批免费40分钟无码| 麻豆aⅴ精品无码一区二区| HEYZO无码综合国产精品| 乱人伦人妻中文字幕无码| 人妻丰满熟妇A v无码区不卡 |