Chengdu Offices 1H 2025

Research article

Chengdu Offices 1H/2025

Rental concessions promote tenant upgrades and relocations

CHENGDU’S GDP GREW BY 5.7% YOY IN 2024

Chengdu recorded 5.7% of GDP growth in 2024, reaching RMB2,351.13 billion while maintaining its position as China’s seventh-largest economic hub. The hightech manufacturing sector achieved 5.7% value-added growth, led by computer/office equipment manufacturing and electronic communication devices. Consumer markets showed accelerated recovery, particularly in new energy vehicles, cosmetics, and precious metals/jewelry.

OFFICE LEASING MARKET BRACED FOR SUPPLY SURGE SINCE 2025

The Tahota Center and Shudao Innovation Center T1 added about 200,000 sq m to Chengdu’s Grade A office market in Q1/2025, 4.6 times of that in Q1/2024. Another 400,000 sq m is expected in the rest of 2025, mainly in Financial City and Tianfu New District.

Chengdu’s Grade A office stock now totals 4.61 million sq m, with 4.05 million for leasing and 563,000 for corporates’ self use.

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