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Chengdu | 2022 Q2 | Retail : Active demand from New Energy Vehicle (NEV) retailers with three new projects coming online

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20220706 retail

Chengdu | 2022 Q2 | Retail : Active demand from New Energy Vehicle (NEV) retailers with three new projects coming online

Dear Valued Client,

In Q2, demand from NEVs and sports entertainment was active. Three new malls opened, with a total GFA of 197,000 sq m (2.1 mil sq ft). As some of the new openings were only soft launches, we recorded rising vacancy, with a 0.9pps QOQ increase to 10.1%. The average ground floor rent decreased 0.2% QOQ to RMB365.0 (USD54.5) per sq m per month.
• We expect large new supply to enter the market during 2022 2023, with an annual average GFA of 988,500 sq m (10.6 mil sq ft).
• We recommend retail brands with plans to expand in Chengdu’s southwest should look for a chance during the supply peak in 2022 2023, which offer a variety of choices in Dayuan , Tianfu New Area, City East and Financial City.


Chengdu | 2022 Q2 | Retail : Active demand from New Energy Vehicle (NEV) retailers with three new projects coming online

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