CITY OVERVIEW

Chongqing’s GDP reached RMB2,083 billion in the first three quarters of 2022, a 3.1% increase YoY. The growth value of the tertiary industry reached RMB1,109 billion, up 2.5 ppts YoY. The investment market remained stable from 2021 to 2022, with seven bulk transactions recorded.

The “Chongqing Metropolitan Area Development Plan” was announced in Q3/2022, aiming to fully connect the city with Chengdu’s metropolitan area and establish economic linkages within Sichuan province. Guangan, which lies in the northeast of Sichuan, has also been integrated into Chongqing through the said Plan.

OFFICE MARKET OVERVIEW

Mainly located in Jiangbeizui, Jiefangbei and Dashihua submarkets, 14 Grade A office buildings were launched between 2017 and Q3/2022, bringing the total office stock to over 2.54 million sq m. Several Grade A office buildings are also expected to enter the market over the next few years, with most of them located in Jiangbeizui, Dashihua and Central Park.