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China dominates Asia’s future supertall office buildings
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CHINA dominates Asia’s pipeline of supertall office buildings as the country accounts for 71 percent of the region’s future supply to be done in the next five years, said a research released yesterday by CBRE.
Notably, 51 percent of the region’s future supply of office buildings that are over 300 meters high are located in China’s Tier II cities, triggering growing concerns of oversupply amid a rather weak tenant demand.
Frank Chen, executive director, head of CBRE Research, China, warned of a “risk of oversupply” due to existing and future completion of several supertall office buildings in cities like Shenyang, Chongqing and Tianjin.
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