BUSINESS Beijing's business parks attractive to multiple industries

BUSINESS

Beijing's business parks attractive to multiple industries

China Daily

15:23, September 15, 2022


A view of the Zhongguancun Software Park in Beijing. (Photo: VCG)

Leading companies from the TMT, pharmaceuticals and life sciences industries are the major tenants for the capital's business parks, according to a report by CBRE, an international real estate service provider.

Business parks are more attractive for leading companies, as evidenced by the growing amount of tenants for an office space larger than 10,000 square meters. Companies from TMT industries contributed to nearly half of the demand, with another one third coming from pharmaceuticals and life sciences sectors, the report showed.

Meanwhile, the business parks' academic office environment, lower rental costs and more favorable industrial policies are highly intriguing to large, high-caliber companies.

Government policies encourage high-tech industries such as the new generation of information technology, medicine and health to further cluster and develop in Beijing, and business parks provide them with the main space carrier.

Zhongguancun Software Park and other business parks in Beijing have introduced a number of top technology companies, promoting further industrial clustering and upgrading in the area, said Yuan Hui, head of the department of advisory and transaction services, CBRE North China.

Accordingly, the strategic positioning of Beijing's business parks for different industries is very clear. Haidian Park of Zhongguancun Software Park is the first choice for new generation of information technology, integrated circuits and aerospace, with up to 63 percent of TMT industries landing in Haidian Park.

Meanwhile, Daxing-Yizhuang Park has significant clustering advantages in pharmaceutical and life science industries. Automotive and transportation equipment are clustered in Shunyi, and energy and public utilities mainly land in Fengtai Industrial Park.

Beijing business parks have witnessed great development in research and innovation over recent years. TMT, pharmaceutical and life sciences, and advanced manufacturing prefer professional research and development (R&D) buildings.

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