Chengdu | 2021 H2 | Logistics : Three new projects came online while the average rent recorded a slight HOH decrease

Dear Valued Client,

• In H2, three new projects came online in the Qingbaijiang and Longquanyi districts, providing 478,600 square meters (5.1 mil square feet) of space to the market. E commerce companies and 3PLs were respectively the top demand drivers of H1 and H2. The net absorption totaled 576,700 square meters (6.2 mil square feet) this year, a 2.2% YOY growth.

•Qingbaijiang District's vacancy dropped significantly from Q1 due to active demand from fresh food e tailers and traditional e tailers.

•We recommend tenants expanding or looking for space consider the cluster of new, cost effective projects in Qingbaijiang due to ample supply in the submarket next five years.