Original title: "Warmness" of Beijing office building market is emerging

Beijing Daily reporter Lu Yang

In the northwest of Beijing, more and more industrial parks are taking root and growing up in Xisanqi, which is moving towards a scientific and technological innovation industry cluster. In the Zhongguancun Dongsheng Science Park, which was completed and delivered at the end of last year, a batch of growing innovative enterprises have settled in. "Nearly 100000 square meters will be rented in half a year." This is a good result of the industrial park at the pre leasing stage.

According to the data, in the first quarter of this year, the turnover of Beijing office building market rose slightly, and the vacancy rate declined for the first time since the second quarter of 2022. In particular, representative enterprises of new quality productivity are more active in the market, and new drivers of economic growth are accumulating.

Net absorption of office buildings reached 73000 square meters in the first quarter

"Almost all of the four buildings are rented out, but the whole building is still rented out." Entering Dongsheng Science Park, Yin Zilong, senior director of office building services in North China of Colliers International, pointed to a whole row of office buildings facing the street on the south side of the park, and introduced their rental situation one by one.

In the park, an enterprise has settled in a high-rise building, and white-collar workers rush through it; There are also several buildings that are finally decorated according to the owner's needs, and will soon welcome new owners. As a new industrial park project in northwest Beijing, half a year before the project was officially completed and delivered, the leased transaction area reached 100000 square meters.

According to a report by CBRE, a commercial real estate service and investment institution, the net absorption of office buildings in Beijing reached 73000 square meters in the first quarter of this year, a double increase from the previous quarter.

Net absorption of office buildings refers to the sum of all new rent, rent expansion and rent cancellation areas in the office building market within a certain period. The net absorption of office buildings is one of the important indicators to measure the health of the office building market. If the net absorption continues to be positive, it indicates that the demand for office buildings is high and the market activity is high.

In the first quarter of this year, it is not uncommon for Beijing office building market to have transactions of over 10000 square meters. China Investment Co., Ltd. newly leased 40000 square meters in the East Second Ring Road, 11000 square meters in Wangjing for the Ideal Car, 11000 square meters in Zhongguancun for Glory, and 17000 square meters in the Asian Olympic Region for Byte Jump. According to the analysis of Dai Deliang, a commercial real estate service and investment institution, the enterprise has gradually adapted to the new market environment, The cumulative demand in 2023 will usher in a round of explosion in 2024.

Jones Lang LaSalle also said that the improvement of the current market sentiment has led to the continuous heating of rental demand, and the net absorption of retail real estate in the city in the first quarter hit a new high in the past two years.

The office building market has developed from high-speed to high-quality

Next to the Beijing Zoo, a new office building with a modern and international style is particularly eye-catching. This building was undertaken by Huayuan Group and was renovated from Century Tianle Building, which is the largest in area and has the largest number of merchants. The narrow grid in the past has become a spacious and bright office area. In the past, "dynamic approval" has successfully transformed Beijing Financial Technology Center, releasing opportunities for industrial upgrading and development.

"The building is still the same building, and it has taken on a new look inside and outside." Following the pace of Niu Cong, the head of Beijing Financial Technology Center, the reporter came to the model room located on the 16th floor of the office building, where the shining glass curtain wall, exquisite decoration, together with high-end business services and social spaces such as the city reception hall, complex cultural and artistic space, were presented. "Such a supporting level is very scarce in the office building market in Xicheng District." Niucong said that the owner will also build a service platform to help the settled enterprises match and link related resources and help their development.

Differentiated and personalized supporting facilities and services are increasingly becoming one of the core competitiveness of office buildings. In the middle of April this year, Beijing Financial Technology Center was successfully completed and delivered as a whole. At this time, the office building has rented more than 10000 square meters, and the rental rate has reached 30%.

"We decided to open the third branch in Beijing in the Financial Technology Center, focusing on its quality, service, and high-quality customer base." The relevant person in charge of the catering brand Yixiufang said that after transformation, the Beijing Financial Technology Center has become one of the landmark buildings in Xicheng District, which is conducive to expanding the brand influence. In addition, white-collar workers in the financial and technological industries in the office building, as well as a large number of tourists from Beijing Zoo, will also provide some guarantee for the new store's passenger flow.

Similarly, Dongsheng Science Park also emphasizes that it will provide differentiated services for enterprises settled in the park, such as holding industry competitions to build communication platforms, setting up doctoral stations to introduce talents, and providing public rental housing for enterprise employees to solve the problem of secure housing. "The Beijing office building market is ushering in a round of double upgrading of hardware and software quality," said Yin Zilong.

New quality productivity enterprises show strong rental demand

"The market demand has rebounded rapidly, and new industrial momentum is gathering in the northwest innovation cluster." Lu Ming, head of office building research of Colliers International in China, said that the Zhongguancun office building market and Shangdi Industrial Park market will totally destock more than 100000 square meters in the first quarter of 2024, which also means that as the northwest innovation market cluster in Beijing stabilizes, The office building market demand is being repaired.

In May this year, the Beijing Tianjin Hebei National Technology Innovation Center will soon enter Dongsheng Science Park.

Wang Fang, assistant director of the Beijing Tianjin Hebei National Technology Innovation Center, said that after moving to a new site with higher quality, the center has more space to "show their strength". They plan to integrate office, laboratory, business incubation space, etc., and will also reserve nearly 10000 square meters of space for enterprises incubated by the center.

"Emerging industries represented by biopharmaceuticals, artificial intelligence, low altitude economy, etc. will usher in greater development opportunities, and will also show more robust rental demand." DTZ predicted that the demand for office buildings in Beijing this year will pick up significantly compared with last year.