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Retail Beijing

July 2021

Report

Reihe: Savills Market in Minutes

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  • Erscheinungsdatum : 15.07.2021
  • Seiten : 2 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 2,52 MB
  • Sprache(n) : Englisch

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Inhalt

Beijing sees three new retail projects

  • Retail sales increased 23.3% year-on-year (YoY) to RMB584.1 billion in the first five months of 2021, while general retail and F&B sales rose by 20.5% YoY and 69.2% YoY to RMB538.7 billion and RMB45.3 billion, respectively.
  • Three new projects were launched in Q2/2021, bringing 186,107 sq m of retail space to the market. Lize Paradise Walk, located in Lize, contributed 92,107 sq m of retail space. Tongzhou Aegean Place, located in Tongzhou, brought 83,000 sq m to the market. The New, located in Xidan, brought in 11,000 sq m. By the end of Q2/2021, the total stock of the citywide shopping malls reached 10.21 million sq m.
  • Citywide shopping mall vacancy rate reached 6.9%, up 0.1 of a percentage point (ppt) quarter-on-quarter (QoQ) but down 2.8 ppts YoY.
  • Citywide shopping mall first-floor rents reached RMB849.9 per sq m per month in Q2/2021, and the rental index increased by 1.8% QoQ and 2.0% YoY.
  • Average prime first-floor rents hit RMB1,287.6 per sq m per month by the end of Q2/2021, and the rental index rose by 2.6% QoQ and 2.5% YoY.

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