Related stories

Liu Bi Ju's Small Pickles and Big Business How the Olympics are Influencing the Commercial Property Market Serviced Officers: Start Business with a Computer Capital Plans 800 More Parks Before 2008 Olympics Revel in Pinggu’s Peach Blossoms

2008 Retail & Office Openings Slow Pending Olympics

Through the second quarter of 2008, the total retail stock of registered developments larger than 10,000 square metres (sq.m) was about 13.9 million sq.m., according to a report by Cushman & Wakefield Research in Beijing. Shopping malls accounted for 24 percent of the space available, remaining the largest single component in the market.

Because of a construction moratorium during Olympic Games and other issues arising from within the developer community, several retail projects in Beijing postponed their opening dates to the next quarter. However, a few new large scale retail developments, including SOLANA (150,000 sq.m) and RMBox (101,000 sq.m), added to a steady increase of retail space in the second quarter.

Highlights among New Opens

With the increasing awareness of Joy City and the opening of international brands such as Zara and Uniqlo, the Xidan submarket maintained its upward momentum in the second quarter, with average asking rents increasing by 16.7 percent quarter-on-quarter to US$175 per sq.m a month. Influenced by the pending opening of several new projects in the third quarter, such as Lotte Department and Jinbao Place in Wangfujing, Gemdale Garden and Yintai Center in CBD, the retail market is expected to be active in these two areas. Retail rents continued their steady ascent in the Zhongguancun area.

With a joint effort from Swire Group, SOHO China and Shimao Property, the Sanlitun community became a hot spot in Beijing’s retail market. With the construction of Sanlitun Village, Sanlitun SOHO, Shimao Sanlitun Project and Yongli Plaza, the gross retail space in the area will expand to 450,000 sq.m. Sanlitun, known as Beijing’s centre of new fashion, is being transformed into a retail centre with its own special character in Beijing.

Rents Increase, Office Market Slows

As a result of new supply coming onto the market during the first quarter of 2008, the office market was dampened a bit, and rental rentals slowed slightly. Probably stimulated by the surge of new supply, the market recorded an increase in large transactions, which seemed to signal that many multinational corporations were rushing their relocations ahead of the Olympics.

The stunning, growing strength of net-effective rents for Prime, Grade A and Grade B office space in the second quarter of 2008 weakened some to 350 yuan (US$50.60), 260 yuan (US$37.60) and 180 yuan (US$26) per sq.m per month, up 4.0 percent, 4.1 percent and 5.0 percent compared with the first quarter.

Vacancies Decline with Significant Demand

Three major completions including the Fortune Resource Int'l Centre (about 42,800 sq.m) in the Finance Street area, DH Plaza (34,000 sq.m) in the Wangjing area and China CBD TEDA (39,000 sq.m) in the Beijing CBD area were ready for occupancy in the second quarter.

Overall market demand remained vigorous in the second quarter as shown with lots of significant transactions, such as Sony Ericsson leasing 34,000 sq.m in the DH Plaza, Johnson & Johnson signing on to 14,000 sq.m in China Central Place Tower III, TOYOTA renting 15,000 sq.m in the World Financial Centre. Still the average vacancy rate of Grade A offices experienced a quarter-on-quarter decline of 2.5 percent to about the 14.5 percent growth of the first quarter.

Information provided by Cushman & Wakefield

2008年第二季度北京写字楼和商铺市场行情

摄影/马文晓

写字楼市场行情

租金上涨渐缓

由于2008年第1季度大量新增项目的集中入市，北京市整体写字楼市场一定程度上受到影响，使得增势强劲的租金水平于本季度略微放慢了上涨的步伐。或许由于近期一系列新增供应量投放市场的刺激，众多世界知名跨国公司纷纷赶在奥运会之前完成了办公选址决定，最终签署了新办公场所的租赁合同，导致本季度写字楼市场大单成交显著增多。

2008年第2季度北京顶级、甲级和乙级写字楼有效净租金的增长势头有所削弱，分别达到每月每平米350元（约合50.6美元）、260元（约合37.6美元）和180元（约合26美元），与2008年第1季度相比，分别上涨了4.0%、4.1%和5.0%。

强劲需求导致空置率回落

2008年第2季度，金融街商圈的丰融国际中心（约42800平方米）、望京区域的东煌大厦（约34000平方米）以及中央商务区的泰达时代中心（约39000平方米）共3个热点项目入驻。

第2季度总体市场需求依旧旺盛，写字楼租赁大单相继于本季度成交，例如索爱在东煌大厦租赁34000平方米、强生在华贸中心3座签约14000平方米、丰田汽车在环球金融中心租赁15000平方米等。继上季度因大量新项目集中入市所致的空置高峰后，本季度甲级写字楼平均空置率环比下降2.5%，回落到大约14.5%左右。

两大项目被整售

位于金融街商圈尚处于建设中的丰盛大厦，以21.9亿元的价格被中国太平洋保险（集团）股份有限公司整栋购买。该项目总建筑面积为70818平方米。

同时，位于亮马河商圈的圣元中心整售予了海南航空股份有限公司，该项目总建筑面积为42380平方米，成交价约6亿元。

商铺市场行情

2008年第2季度北京主要商圈的租金有所波动，其中西单商圈随大悦城的逐渐成熟以及诸如ZARA、优衣库等国际知名品牌的相继落户开业，使得该区域内平均租金显著上升，首层平均租金报价提高到每平方米每月175美元，比上季度上涨16.7%。同时，由于王府井商圈的乐天银泰百货、金宝汇以及CBD商圈的美美百货、柏悦生活购物中心等项目将分别于下一季度开业，如此众多的高品质商业项目集中入市必将推动相关区域的商业发展，增强当地市场的商业氛围。此外，中关村商圈的租金水平呈现出稳定的增长趋势。

市场存量与新增供应量

截至2008年第2季度，北京商铺市场单体规模大于1万平方米的商业项目总存量达到近1390万平方米。其中，商业街和商品市场的占比分别比上季度上升2％和4％。购物中心在所有商铺物业类型总存量中所占比重最大，高达24％。

由于奥运期间空气质量管理对施工的限制或开发商自身等原因，部分大型商业项目开业时间顺延。然而，大体量商铺项目如SOLANA（150000 平方米）和六佰本（101000平方米）等在第2季度投放市场，使本季度新增供应量仍稳步增长。

三里屯成为商业地产新热点

三里屯地区在香港太古集团、SOHO中国和世茂集团等实力地产商的联合推动下，已成为商业地产开发的新热点。三里屯Village、三里屯SOHO、世茂三里屯项目、永利广场的相继开发，将使三里屯地区的商业面积增至45万平方米。改造后的三里屯区域，将传承其时尚文化消费的特色，变身为京城时尚文化消费中心。

国际连锁快速时尚服装品牌陆续进入中国市场

ZARA、H&M、C&A等国际知名时装零售连锁品牌陆续在上海、北京等一线城市登陆的同时，纷纷公布了其各自在中国市场的拓展计划。备受年轻消费者青睐的日本最大休闲装品牌优衣库（UNIQLO）已分别在北京西单大悦城和王府井新东安市场开店，同时，它的第3家分店也即将落户三里屯Village。

资料来源：高纬环球研究部