2008-02-04 Gaungzhou
According to data from Jones Lang LaSalle, a total of approximately 500,000 sq m of grade-A offices were launched in Guangzhou in 2007, a year-on-year growth of 100 per cent. Overall vacancy rate grew from 20 per cent in the first quarter of last year to 25 per cent in the fourth quarter due to the increased supply. An executive at Jones Lang LaSalle said most grade-A offices launched last year are located in Tianhe district, and expects total inventory of grade-A offices including the newly released offices last year has reached 1.88 million sq m in the city. In addition, 1.9 million sq m new offices are expected to be rolled out over the next three years in Guangzhou, the executive said.
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