Beijing’s boom year
Twenty percent of Bejing’s total prime office space was completed in 2007, according to research by Jones Lang LaSalle. About 53% of this expansion occurred in the city’s central business district, including two long-awaited office building projects, the Prosper Center and Yintai. The city had 6.76 million sqm in prime space at the end of 2007.
E-House still tops in China
The China Real Estate Top 10 Committee, a market research task force, named E-House, China’s largest real estate and consulting company, the country’s best service provider for the fourth consecutive year this April. E-House offers real estate developers, investors and other institutions in China annual subscriptions to its proprietary database for a flat annual subscription fee and value-added services for premium fees.
Lujiazui delays
Office space supply in Shanghai’s Lujiazui district has been affected by several building delays over the past year. The openings of four properties in particular – Mirae Asset, Golden Landmark, One Lujiazui and the 101-story Shanghai World Financial Center – have been held-up for various reasons, such as meeting stricter fire safety requirements. Eight buildings in Lujiazui, totaling more than 650,000 sqm of commercial space are expected to enter the market in the next 12 months.
OASIS lands in Shanghai
In February, boutique serviced office provider OASIS opened a three-story building near Shanghai’s Xintiandi commercial center. OASIS plans to expand into a “cluster” of locations in Shanghai before seeking new markets in China next year, according to marketing manager Maria Gilsenan. The firm has invested in environment-friendly office facilities and its office furniture is supplied by Kokyuo. Other defining features include a garden terrace, private café and oxygen bar to attract young, service-oriented clients. “Serviced office space is not just about location, location, location, it is about location, client experience and environment,” she said.