The skylines of China’s rapidly growing cities are constantly changing as new construction projects are progressing.
New office buildings, retail malls, and housing projects are being built at such a rapid rate that, according to CBRE, of the companies that created the most retail mall shopping space last year, nine were located in China.
Chinese cities also have more than 50 per cent of the mall space currently under construction in the world.
The Wall Street Journal states that developers in Chengdu, a southwestern city, opened one million square metres of mall space in 2013 – more than any other city on Earth. The New Century Global Center opened for business last year and includes shops, offices, restaurants, and a hotel.
Zhang Zhiwei, branch manager with Duming (Beijing) Real Estate Assessment Co., Ltd, Sichuan, offers this advice for would-be investors in Chinese commercial property: Invest in the best business district or buy small buildings near residential areas.
According to a number of experts, several cities in China are expected to experience heightened rental demand for commercial property once new regulatory changes come into effect.
