2022 Shanghai Business Park Tenant Profile

Shanghai’s rapid emergence as a cluster for intelligent manufacturing and technological innovation is attracting a growing number of industries, spurring new occupier demand for business parks.To understand the composition of business park demand in Shanghai, CBRE recently conducted a study covering 4,649 occupiers, 9.51 million sq. m. of space and 172 individual properties.

Key findings include:

- The largest occupiers by industry are TMT (31% of occupied space), industrial manufacturing (18%), pharmaceutical & life science (14%), consumer manufacturing (6%) and resources and utilities (6%);

- Domestic enterprises (77%) account for the bulk of leased space and have increased their share of overall occupied business park since the last survey was conducted in 2020. Among domestic tenants, TMT is the main driver of demand, while among foreign occupiers, the industrial manufacturing sector is the largest occupier;

- Industries are increasingly agglomerating in specific areas. Technology & internet and software firms are clustering and expanding in Zhangjiang and Caohejing; telecommunications companies are focusing on Jinqiao; the semiconductor industry is strengthening its presence in Zhangjiang; and pharmaceutical & life sciences companies are most prominent in Zhangjiang and Pujiang;