LEASING ACTIVITY TO IMPROVE AMID NEW SUPPLY PEAK IN 2021
Dear Valued Client，In 2020 Q4, TMT, financial and pharmaceutical tenants continued to expanded in Guangzhou. The vacancy rate tightened amid rents increasing slightly. We expect Guangzhou will be a tenants’ market with heavy supply in 2021. We recommend tenants with high quality requirements secure space in new projects in PRNC considering the dearth of new supply in PRNC from 2023-2025 while other tenants can look at new projects in Pazhou.