"Q2/2024, no new supply was launched onto the Wuhan Grade A Office market for three consecutive quarters. Service sector remained active in the leasing market, pushing the vacancy rate down to 38.8%. Limited new supply present destocking opportunities, but the rental decline is expected to persist."

"Given the increased options for tenants, landlords of existing projects must focus on amenities and services to differentiate themselves, including proactive tenant engagement and greater responsiveness to client needs."

"With robust inbound tourism policies and new retail developments, Hangzhou’s retail market is poised for continued growth, though rental income prospects remain modest in the short term."

"One urban renewal project, JILI Plaza, re-opened this quarter after extensive renovation. The project integrating a variety of trendy elements should improve the retail quality in Tianjin. Additionally, with robust cultural and tourism consumption, more brands show interest in opening their first stores in Tianjin, driving up new consumption scenarios that increasingly attract consumer traffic."