China’s self-reliance drive, stemming from the US-China trade war, has resulted in a notable increase in demand for technology districts and office real estate, reported the South China Morning Post.
Real estate services firm CBRE have stated that, in the first quarter of 2021, investment in office space and research facilities in China’s technology parks topped RMB 14.5 billion ($2.25 billion), an all-time high.
“The investment spree was a result of the central government’s guidance,” says Sam Xie, CBRE China’s head of research. “As the state leadership urges innovations in technology, demand for office space slated for technology firms is rising sharply.”
