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Great Bay Area Office Market 2024

"The Greater Bay Area (GBA) economy expanded by 5.1% YoY in 2024, outperforming the national average by 0.1 ppts despite facing persistent external headwinds and weak domestic demand. Growth momentum moderated by 1.1 ppts from 2023 , but was supported by the rapid emergence of high-quality productive forces. In response, local governments across mainland GBA cities intensified efforts to foster strategic industries such as artificial intelligence (AI), the low -altitude economy, and biopharmaceuticals."

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