1、ResearchChina|October 2023 Embracing Changes,Forging New Paths:Shanghai Business Park Property Market OutlookIntroductionLong Chinas largest city and commercial capital,Shanghai now has set a strategic goal to leverage urban planning and development tools to establish itself as a global technology a
2、nd innovation hub.This effort not only will play a crucial role in driving Shanghais own high-quality development,but also will help China achieve its broader mission of becoming a world leader in technology.Shanghais business parks since inception have been essential vessels of the citys industrial
3、 growth,nurturing many of the nations industry-leading firms.The business park sector will remain vital as the citys economy undergoes innovation-driven transformation,benefitting from ongoing industrial clustering effects and growing policy support.This report focuses on Shanghais business park pro
4、perty market and explores the clustering effects and leasing demand of five major industries,taking into account the distinct industrial value chain characteristics of each.We also consider each industrys potential for increased business park demand in Shanghai over the medium to long term.Industry
5、crossover and collaboration are likely to generate additional leasing demand.JLL(Jones Lang LaSalle)has surveyed over 100 tenants to understand how business park requirements are evolving.Starting from dimensions like property specifications and asset management operations,we propose an industrial p
6、erspective for business park properties that is suited to the long-term development needs of industries.We have conducted further surveys of over 60 institutional investors;here we explore trends and opportunities in business park capital markets,in particular considering the combined effects of sho