"Incentivized by steeper discounts, hesitant firms are more likely to finalize leasing decisions. Additionally, the expiration of several large tenant leases is expected to boost activity and help clear a backlog of deals."

"Incentivized by steeper discounts, hesitant firms are more likely to finalize leasing decisions. Additionally, the expiration of several large tenant leases is expected to boost activity and help clear a backlog of deals."

"The year starts on a relatively quiet note."

"At the beginning of 2024, the Beijing Grade A office market showed signs of recovery and performed better than expected. Due to the lower supply volume than previous years, the office market has a great opportunity to boost absorption, rebalance the supply and demand and hopefully regain market confidence."

"Demand in certain industries is still in adjustment. Online education sector displayed signs of recovery at the start of the year following policy modifications. Leasing demand from such sector is expected to be a new growth point in the future."

"Beijing’s en-bloc investment market performed steadily at the beginning of 2024. Small- and medium-volume deals dominated the market while office projects remained the most favourable asset class. Financially powerful buyers, including insurance companies, SOEs and urban investment companies, are accelerating their investment and acquisition plans."

"Wuhan’s first-ever shopping mall reopened after renovation, injecting vitality to Xudong area. The future high-quality supply in 2024 is expected to improve Wuhan’s commercial landscape and boost the city’s consumption."