Special Report on Shanghai Biomedical Industry
Summary and Prospect:
In recent years, biomedical leasing demand has surged in Shanghai, along with the rapid growth of the industry. Core business parks are seeing low vacancy rates and a scarcity of high-spec R&D space. New supply and newly renovated space in the last two years was rapidly absorbed as it has higher standards and quality to meet the needs of leading biomedical companies.
Colliers see bright growth prospects for the biomedical industry, fueled in part by capital market financing. Therefore, we expect Shanghai business parks, especially those with mature biomedical industry clusters and a sufficient biomedical talent base, will continue to be the hotspots for biomedical occupiers and institutional investors.
Considering the limited future supply in core business parks, developers and investors should proactively work with biomedical industry occupiers to understand their needs and special requirements and to implement their development and renovation plans, to maximize the value of their properties.