CBRE released “recovery index”: Chengdu’s overall market recovery is the highest in Asia Pacific Region

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CBRE CBRE recovery index shows that among the major cities in the Asia Pacific region, Chengdu has the highest overall market recovery, with Taipei, Shanghai and Beijing ranked second, fourth and sixth respectively, and Wuhan ranked tenth. The

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and “CBRE global recovery index” score the recovery degree of each city in 12 aspects of economic activities, transportation, tourism, return to work, retail and entertainment activities (1 point means that most of the restrictive measures are still subject to; 5 points means that it has recovered to the pre epidemic level), so as to systematically analyze the market recovery status of major cities in the world. The index, based on data collected in early August this year, covers 23 major cities in the Asia Pacific region. Its sub index shows that Chengdu scored 5 points in terms of transportation and return to work, and 3 points ahead of other cities in Asia Pacific in terms of tourism.

the Asia Pacific Real estate market outlook in mid-2020 released by the agency at the same time shows that the Asia Pacific industrial logistics sector has performed strongly since this year, and the demand for office buildings is picking up. CBRE expects most commercial real estate sectors to recover this year and continue to do so in 2021. Lin Qinglan, director of Chengdu Research Department of

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, said that in the face of the short-term impact of the new epidemic on economic activities, Chengdu coordinated the epidemic prevention and control and economic and social development, took the lead in the country to resume work and production in February. At the same time, it introduced favorable policies to relieve small and medium-sized enterprises, which has won an opportunity for urban recovery. In the second quarter, Chengdu ranked the fourth in terms of net absorption of office buildings in China.

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with the effective control of the epidemic situation and the gradual recovery of transportation and tourism, Chengdu Shuangliu International Airport achieved nearly 16 million passenger throughput in the first half of the year, ranking the first in China. In June, the number of take-off and landing flights of the airport was 27000, ranking the first in the world for two consecutive months, demonstrating the resilience of Chengdu Shuangliu International Airport as an international gateway hub city. ” She explained that in terms of consumption, Chengdu issued consumption vouchers and actively promoted new scenarios and new formats such as the first store economy, park economy and night economy, effectively stimulating consumption compensation and potential release. The recovery is expected to accelerate in the second half of the year and continue into 2021.

for the Asia Pacific market, the agency believes that the highly resilient technology industry will continue to support the overall demand for office buildings in the region. The growing demand for office buildings in the life sciences and pharmaceutical industries, as well as signs of a recovery in the office market in mainland China, have all contributed to the overall recovery of the Asia Pacific market. In the logistics and warehousing market, the rapid expansion of e-commerce industry makes the demand for warehousing facilities remain strong. The recovery of retail property and hotel property market is relatively lagging behind, but the irreplaceable status of physical stores and the recovery of domestic tourism and surrounding tourism will lay a solid foundation for the final recovery of these two sectors. In terms of

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, investors in the Asia Pacific region are adjusting their allocation and actively seeking structural investment opportunities, so as to build a more resilient portfolio. Institutional investors increase the warehousing and logistics sector through joint ventures and private equity funds, and pay attention to the high-quality office assets of core gateway cities in China, Japan and Singapore.

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in this context, for the local market of Chengdu, Lin Qinglan said that in the first half of the year, Chengdu’s economy remained positive growth under the impact of the epidemic, highlighting its resilience and growth. With a new round of strategic opportunities brought about by the construction of Chengdu Chongqing economic circle, urban expansion, industrial chain upgrading and talent introduction are gradually promoted, and the medium and long-term value of Chengdu Commercial real estate is favored by more investors. “It is expected that the block trading market will show a clearer trend in the second half of the year, and mature projects with stable cash flow in the core region are the investment targets that investors pay priority to.” She said.

Red Star journalist Ye Yan Zou Yue

original title: CBRE released “recovery index”: Chengdu’s overall market recovery is the highest in Asia Pacific Region