Tech Hub Shenzhen Hasn’t Had This Much Vacant Office Space in 10 Years

Caixin Global | Jun 19, 2019 at 7:02 PM
  • Vacancies in the office market in Shenzhen, South China’s Guangdong province, hit a decade-high in the first half of 2019, burdened by a flood of new space entering the market and lingering fallout from a recent cleanup in the financial technology sector.
  • The vacancy rate for class-A space in the city now stands at 23.3%, a high for the last decade.
  • In total, Colliers estimated an additional 4.37 million square meters will enter the market in the three years from 2019 to 2021, nearly doubling the amount of class-A space in the city.