Shanghai is home to a vibrant office market featuring tenants from a broad range of traditional and emerging industries, reflecting the city’s diversified economic structure.
To better understand the composition of office demand in Shanghai, CBRE recently conducted a study of 6,125 occupiers, over 8.41 million sq. m. of space and 153 Grade A buildings.
Key findings include:
- Finance (31% of occupied space), Manufacturing (23%), Service (17%), TMT (10%) and Real Estate (7%) are the major office occupying industries in Shanghai;
- The volume of space occupied by domestic companies (51%) has outstripped that of foreign companies (49%) for the second consecutive year. Most foreign companies (52%) are located in the core CBD, while a majority of Chinese firms (43%) are situated in Greater CBD;
- The number of very large tenants (occupying over 10,000 sq. m.) continues to grow, with the number rising to 113 in 2020. Most of these companies are in the Finance (36%) and Services (25%) industries.