"New landmark openings are accelerating a quality-driven shift in Guangzhou’s retail market, particularly in leading secondary locations where both environment and tenant profiles are improving."

"In the current market, value is created through operations, not optimism. Assets that can be run well will outperform, regardless of headline sentiment."

"Tech occupiers continued to expand in Shenzhen in 2025, supporting office leasing demand, with Nanshan standing out as the leading submarket and net absorption expected to remain strong into 2026."

"Pudong’s year-end reversal in the rising vacancy trend has been encouraging, but weaker performance in certain parts of Puxi continues to weigh on overall net absorption."

"With competition intensifying, operators are adopting more granular tenant segmentation and shaping products around lifestyle, consumption patterns and expectations of quality."

"Leasing demand in Tianjin has shown early signs of recovery, but elevated vacancy will take time to absorb. Policy support linked to the SCO summit should help improve medium-term market confidence."

"Tianjin’s retail market is gradually stabilising, with format upgrades and new consumption scenarios helping to rebuild footfall and support tenant performance."

"In Q3/2025, no new projects were delivered to Chengdu’s Grade A office market. Rents continued to decline, while vacancy rates edged up QoQ. Landlords actively considered converting existing office space into other formats, such as hotels. Meanwhile,  mixed-use development is being incorporated into upcoming project planning."

"While new supply brings fresh energy to the market, it also intensifies leasing pressure, making tenant curation and experiential upgrades more critical than ever."

"Landlords are improving service quality, introducing flexible leasing, and integrating retail elements to enhance tenant satisfaction and retention in a more competitive market."