Chengdu | 2021 Q4 | OFFICE : 2021 demand rebounded to 2019 level
Dear Valued Client,
In Q4, we recorded a drop leasing activity affected by resurgence of Covid in November. In 2021, overall net absorption increased more than 80% YOY to 170,200 square meters (1,831,300 square feet), rebounding to match the level of 2019. The TMT, traditional finance and real estate & architecture sectors were the top three demand drivers in Q4.
Tenants continue to be cost sensitive. We still recommend landlords provide customized decorations and fit out while enhancing the suite of service offerings to meet the needs of different tenants, especially in submarkets with higher vacancies and supply.