Office market extends strength in Q1 but pandemic challenges grow - 2022-04-15
Shanghai's Grade A office market extended its strength in the first quarter of this year but faces short-term challenges from the recent resurgence of the COVID-19 outbreak, international property consultancy JLL said in its latest quarterly review released on Thursday.Around the city, net absorption, a barometer of market demand for office space, was 295,100 square meters, with decentralized areas accounting for 251,700 square meters and the rest in CBD markets."\\;Demand for office leasing in Shanghai continued to be strong in January and February,"\\; said Anny Zhang, managing director for JLL East China and head of office leasing advisory for JLL China. "\\;It was fuelled by a range of companies, including manufacturing and trading and life science firms, along with finance and professional services providers."\\;
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