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China Daily / 2020-10 / 26 / Page014

FTZ to revive capital's sluggish office realty market

By Chen Meiling | China Daily | Updated: 2020-10-26 00:00

The newly established pilot free trade zone in Beijing is expected to revive the sluggish office real estate market in the national capital, experts said.

Demand is expected from businesses in the sectors of technology, financial services, medical and health, which will likely post new growth after reaping benefits from the zone.

Market absorption of office buildings in the city dropped about 47 percent year-on-year to reach around 92,000 square meters from January to September, due to the economic effects of the COVID-19 pandemic, according to a report from Savills, a real estate services provider.

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