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Project Sales and Leasing

JLL optimizes your assets and delivers the highest returns

JLL’s sales and leasing agents are known for being the most creative and knowledgeable in the industry, having represented landlords and their landmark properties in more than 1,000 markets in 80 countries. We’ll help you meet your financial goals by taking a proactive approach to positioning your property, securing tenants or buyers and maximizing the return.

We have access to a worldwide network of colleagues who are specialists in every aspect of commercial real estate. To address rapidly changing demand for office, industrial, retail and residential space, we arm ourselves with research, local market data and trend information. When we represent your property, we’ll develop a marketing strategy that leverages multiple channels, new technologies and proven best practices to attract high-quality tenants or buyers.

Project Leasing

Earning successful returns on leased property means more than filling space. It begins with a firm grasp of what kind of space the most desirable tenants want and what they will pay for it. JLL project leasing team can execute a project leasing strategy for you that will entice the best tenants at the best lease terms and ensure you retain them for lasting value.

Project Sales​

Given the opportunity to represent your property, JLL project sales team will connect with local analysts and other brokers in the marketplace to develop a marketing plan that leverages multiple platforms, appropriate technologies and best practices to drive buyer interest. We help our landlord clients develop most accurate property positioning and customized comprehensive marketing strategy to ensure most suitable buyers and maximization of returns in the sales cycle.


To know more about JLL China Project Sales and Leasing capability, please submit your inquiry via “Contact us” at the right navigation.


News and research

 

 

Office buildings located at prime locations draw attention from investors; New mall entered and became the retail center of the area/china/en-gb/news/652/2018q1-tianjin-real-estateOffice buildings located at prime locations draw attention from investors; New mall entered and became the retail center of the area<p><span style="font-size:18px;"><strong><em>​According to JLL Tianjin's 1Q18 Property Review</em></strong></span></p><p><strong>Tianjin, 16 April 2018</strong> – "It is a good time to be looking for <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/office" target="_blank">office</a> space in Tianjin with new lower-cost options in non-core areas and landlords in the core CBD still remaining flexible on rent options in high quality buildings." said <strong>Michael Hart, Managing Director of JLL Tianjin</strong>. In 1Q18, in the retail sector, Luneng CC Plaza opened in non-core <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/retail" target="_blank">retail</a> area as a regional mall to cater to family shoppers and brought several new brands into Tianjin. Leasing activity remained active in the <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/industrial-and-logistics" target="_blank">logistics</a> sector, where e-commerce, 3PLs and manufacturers remained the dominant source of demand. Spring Festival season cooled down the <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/residential" target="_blank">residential market</a> temporarily with lower sales volume and prices. New rental housing policy for non-local residents has been released to support the rental market.</p><h3><strong>Office</strong></h3><p><strong>Demand from finance companies and professional service firms remained the most active, followed by that from information technology (IT) firms</strong>. Traditional financial institutions and insurance companies continue to account for most of the leasing transaction volume. For instance, Tianjin Rural Commercial Bank (TRCBank), a local commercial bank, leased over 3,000 sqm in Vantone Center and BOC-Samsung Life, a subsidiary of Bank of China focusing on health and accident insurance, leased around 2,400 sqm in Metropolitan Plaza. As high-quality office buildings gradually entered emerging areas, IT start-ups, trade companies and media companies which are cost-sensitive have started to actively look for office space in projects such as Sino Ocean International Center, one Grade A project which was completed in 4Q17, in Hedong District. Therefore, the IT sector, following finance and professional services, drove the leasing demand, accounting for 14.1% of the quarter's transaction volume. </p><p><strong>Total stock remained unchanged at 2.9 million sqm as no new projects entered the market in 1Q18</strong>. As no new projects came on stream, the stable demand with positive net absorption of 31,100 sqm helped push the overall vacancy rate to decrease 1 percentage point to 35.8% by end of 1Q18. The Grade A vacancy rate further went down to 44.2%, a decrease of 2.5 percentage points q-o-q and 5.6 percentage points y-o-y. The Grade B vacancy rate saw a small dip by 0.4 percentage point q-o-q and 0.3 percentage point y-o-y to 31.4%.</p><p><strong>Overall rents edged down slightly in 1Q18, falling 0.3% q-o-q and 1.7% y-o-y, to RMB 91.8 per sqm per month</strong>. Grade A rents fell 0.2% q-o-q and 0.9% y-o-y to RMB 103.0 per sqm per month. Tenants still had the power in asking more leasing incentives due to sustained high vacancy in the tenant favorable market.</p><p>One en bloc sales transaction was recorded in the quarter. China Life, one of the largest players in the financial and insurance industry in China, bought the office project Tai'andao No. 5 building located in the Nanjing Road-Xiaobailou submarket for a total transaction price of RMB 1.9 billion. Domestics non-banking financial institution and insurance company have been the main players in the commercial real estate investment market in recent years. They are not only interested in holding commercial properties in Tier 1 cities, such as Beijing and Shanghai, but also properties located in prime locations in Tier 2 cities, such as Tianjin, and Xi'an. </p><p><strong>Nine new office projects are expected to enter the market in 2018, and these will add 618,000 sqm, a new supply peak for the past decade</strong>. The overall vacancy will be pushed up to 40.9% by end-2018. "Seven of these nine projects are located outside the traditional submarkets," noted <strong>Lv Weiran, Head of Markets for JLL Tianjin</strong>. "Tenants who are price-sensitive and looking to upgrade their office space will have more options."</p><h3><span lang="EN-US"><strong>Logistics</strong></span></h3><p><strong>E-commerce giants, supporting 3PLs and manufacturing firms spurred demand and helped net absorption in 1Q18 to stand at 205,600 sqm, which was down 17.7% q-o-q but four times the 1Q17's figure</strong>. Notable transactions include a leading e-commerce giant leasing over 130,000 sqm of space in Ninghe to expand its presence across the city and a domestic oil and gas equipment manufacturer leasing around 9,000 sqm in Xiqing. Given the limited availability of large spaces in mature submarkets such as Wuqing and Beichen, Xiqing in the southwest and Ninghe in the northeast of the city are getting more attention.</p><p><strong>Three new projects entered the market, adding 176,000 sqm of space in 1Q18, which helped the total non-bonded market stock reach 3.0 million sqm, an increase of 12.6% y-o-y</strong>. The strong demand helped the overall non-bonded vacancy further decline to 12.9%, down 1.9 percentage points q-o-q and 9.0 percentage points y-o-y although there was new supply.</p><p><strong>As the non-bonded market vacancy rate declined and significant transactions were recorded in the quarter, rents continued to rise</strong>. Net effective rents in the non-bonded market rose 1.1% q-o-q and 3.1% y-o-y on a chain-linked basis by end-1Q18 to RMB 0.94 per sqm per day.</p><p><strong>Eight other projects with a total GFA of 478,000 sqm are expected to enter the market throughout the year and push the overall vacancy rate up by end-2018</strong>. <strong>William Gao, Head of Industrial for JLL Tianjin</strong> commented, "Leasing demand is expected to be strong in 2018, with e-commerce firms, 3PLs and retailers continuing to drive demand. With the area of vacant space in the mature submarkets, such as Wuqing and Beichen, expected to remain low, rents should still see room for growth."</p><h3><strong>Retail</strong></h3><p><strong>Retail leasing demand was strong in 1Q18, mainly driven by F&B, child-related and fashion brands. Net absorption stood at 112,000 sqm, an increase of 116% q-o-q and 27% y-o-y</strong>. Casual dining brands, café and tea brands expanded actively. New-concept F&B brands, such as music cafeteria and restaurants combined with apparel brands, opened in the city centre to attract young shoppers. Child education brands continued to open stores not only in community malls but also at malls in core areas. For example, Riverside 66 leased about 1,000 sqm of space to EF Education and Delight City opened a 500-sqm Tomato Art School, a domestic school. "Social media's growing impact on the retail market and the strong purchase power of millennials supported the retail leasing demand in Tianjin," said Sunny Yin, Head of Retail for JLL Tianjin. For example, Air Jordan, an international sport brands leased about 500 sqm of space in Tianjin Joy City as the first flagship store in Tianjin.</p><p><strong>One large shopping mall - Luneng CC Plaza - entered in 1Q18 as the first shopping mall in the surrounding area, adding 120,000 sqm of retail space in the non-core area in Nankai District</strong>. The mall entered with a high commitment rate of 90% as the first typical shopping mall in that area, benefiting from clear positioning to mid-income families and the project's high accessibility. The opening of Luneng CC Plaza also brought Tianjin shoppers new brands, such as movie theatre Womei Cineplex and an international music themed restaurant, Hard Rock Café. Strong demand pushed down the market vacancy rate slightly to 11.5%, a decrease of 0.1 percentage point q-o-q and 3.1 percentage points y-o-y.</p><p><strong>In line with the strong demand, rents climbed up to RMB 11.7 per sqm per day, an increase of 0.5% q-o-q and 3.1% y-o-y</strong>. Most shopping malls in core areas and among large residential catchments continued to increase their rental value gradually, offsetting a few other malls which saw large vacancy and rents staying unchanged due to unclear positioning and lack of target shoppers.</p><p><strong>Looking forward, five new projects are expected to enter the market in 2018 and push up the total stock to 4.4 million sqm</strong>. Only one mall, L+Mall, is expected to open in the core retail area with mid-to-high positioning. Four other new malls will largely expand the landscape of Tianjin retail market as the first high-quality retail project in each surrounding area.</p><h3><strong>High-end Residential</strong></h3><p><strong>The high-end residential market continued to be quiet in 1Q18</strong>. Tight housing curb policies continued, and the holiday season slowed down the process of purchasing and new supply pipeline. Several banks increased their mortgage rates on both first house and second house buyers, which also cooled down market sales volume. High-end residential market sales volume stood at 268 units in 1Q18, a decrease of 66.9% and 84.7% y-o-y.</p><p><strong>A total of 631 new units were launched in the quarter, a decrease of 59.0% q-o-q and 41.5% y-o-y</strong>. Hexi Meijiang area and New Badali and Hedong District were the active areas with new projects launched. Notable projects include Tianfang Meijiang project, which has access to under construction Metro Line 6 and future Line 10, launching 196 units at an average price of about RMB 45,837 per sqm. The relatively low transaction volume pushed up the inventory levels in the overall high-end market to 19.3% q-o-q.</p><p><strong>High-end housing prices saw a slight decrease of 5.3% q-o-q but still saw an increase of 4.4% compared with the previous year</strong>. </p><p><strong>We forecast that the residential market will remain stable under the tight policy</strong>. "The fundamentals of the Tianjin economy continued to be positive and upgrading demand is expected to continue to support the sales volume and prices to rise slightly," noted by <strong>Chelsea Cai, Head of Research for JLL Tianjin</strong>.</p><p>To attract non-local talent, Tianjin government implemented preferential rental house policies. Young workers who have a bachelor or higher degrees and who started a business in Tianjin could become registered permanent residents and enjoy better social security and other rights same as local citizens if they rent a house in Tianjin. The new policy is expected to encourage the rental housing market and support high-end housing demand in the long term. We also saw several rental apartment projects expanding in Tianjin, such as Port Apartment developed by Vanke and Guanyu Apartment developed by Longfor. We forecast that the growing rental apartment market is expected to make the city more attractive to young talent from other places.<br></p><p style="text-align:center;">– ends –​​</p><p>​​<span style="line-height:20.8px;">​</span><em style="line-height:1.6;">>>>Read more about <a href="http://www.joneslanglasalle.com.cn/china/en-gb/citymarkets/tianjin" target="_blank" rel="nofollow">JLL ​Tianjin Page</a><br></em><em style="line-height:1.6;">>>>Read more about </em><em style="line-height:1.6;"></em><em style="line-height:1.6;"><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb/news" style="line-height:1.6;">JLL News</a>​<br></em><em style="line-height:1.6;">>>>Read more a​bout​ </em><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb/research" style="line-height:1.6;"><em>JLL Research​​​</em></a></p><p>​​<br></p><span class="ms-rteFontSize-1 ms-rteThemeForeColor-5-0"><strong><em></em></strong></span><span class="ms-rteFontSize-1 ms-rteThemeForeColor-5-0"><strong><em>About JLL</em></strong></span><p>JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion and fee revenue of $6.7 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000.  As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit<br>, <a target="_blank" href="http://www.joneslanglasalle.com.cn/" rel="nofollow">www.jll.com</a>. </p><p>JJLL has over 50 years of experience in Asia Pacific, with over 37,000 employees operating in 96 offices in 16 countries across the region. The firm won the ‘World’s Best’ and ‘Best in Asia Pacific’ International Property Consultancy at the International Property Awards in 2016 and was named number one real estate investment advisory firm in Asia Pacific for the sixth consecutive year by Real Capital Analytics.  <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/asiapacific">www.jll.com/asiapacific</a>  </p><p>In Greater China, the firm was named ‘Best Property Consultancy in China’ at the International Property Awards Asia Pacific 2016, and has more than 2,200 professionals and 14,000 on-site staff providing quality real estate advice and services in over 80 cities across the country​.  <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb">www.joneslanglasalle.com.cn</a>​​​​​​​​​​​​​​​​​<br></p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88
Tech hubs lead office rental growth; entertainment tenants expand in retail market with non-conventional cinemas /china/en-gb/news/648/beijing-first-2018-real-estate-market-enTech hubs lead office rental growth; entertainment tenants expand in retail market with non-conventional cinemas <p><span style="font-size:16px;"><strong><em>​According to JLL Beijing's First Quarter Property Market Review</em></strong></span></p><p><strong>Beijing, 12 April 2018</strong> – "Large <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/office" target="_blank">office</a> tenants snapped up new completions, as city policies work to reduce future supply in urban areas," said <strong>Julien Zhang</strong>, Managing Director for JLL North China. Meanwhile, in the retail sector, entertainment tenants expanded in the market, with non-conventional cinemas leading the charge. Investment activity picked up across sectors, despite the traditional low season for investment. The overall<a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/industrial-and-logistics" target="_blank"> industrial</a> vacancy rate hit a new five-year low, after a large amount of space was taken in the emerging Pinggu submarket. In the <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/residential" target="_blank">residential market</a>, primary capital values growth for luxury apartments remained negative for a third consecutive quarter, as the high-end residential price restrictions stayed in place. The upscale <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/hotels-hospitality" target="_blank">hotels market</a> was off to a strong start at the beginning of the year, with performance continuing to trend upward.</p><h3><strong>Grade A Office</strong></h3><h4 style="text-align:left;"><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/20180412_1.png" alt="20180412_1.png" style="margin:5px;" /><br></h4><p><strong>Recent completions continued to unlock pent-up demand from large occupiers as PetroChina secured all of Hengyi Building in Olympic Area with a long-term lease</strong>. Alibaba also took up a significant portion of Radiance in Wangjing, further boosting their huge presence in the submarket. Meanwhile, after a year of record fines imposed by financial regulators, Finance Street saw demand soften in the quarter as firms pause to ensure that their strategies align with the quality growth targets outlined by the central government.</p><p><strong>The Beijing government has stipulated building height restrictions of around 100-180 metres for office towers in the CBD Core Area</strong>. Exceptions have been made for projects with exteriors that have already surpassed the limit. Therefore, the policy is expected to have little impact on near-term supply, but will reduce future supply later over the forecast horizon and further delay completions.</p><p><strong>Tech-led submarkets pulled up overall rents in the quarter</strong>. Wangjing and Zhongguancun saw rents increase significantly, as vacancies narrowed and demand from tech firms continued to be strong. "Due to strong IT demand in the area, landlords in these submarkets were confident despite impending new supply in the CBD and Lize," said <strong>Eric Hirsch</strong>, Head of Office Leasing for JLL in Beijing. "With tech firms poised to see strong growth ahead, these popular tech hubs are expected to maintain leading positions in the market." Meanwhile, Finance Street rents were flat q-o-q; softer finance demand followed several months of increased regulatory oversight.<br></p><h3><strong>Investments</strong></h3><p><strong>Investment activity picked up across sectors, with Beijing's total transaction volume totaling 5.3 billion RMB in the quarter, despite the start of the year serving as traditional low season for investment.</strong> In the quarter, seven major deals spanned office, <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services/property-types/retail" target="_blank">retail</a>, hotels, and residential sectors. Notable deals in the quarter included the sale of CapitaMall Cuiwei in West Beijing to Vanke's commercial property arm SCP Group, which teamed up with Triwater Asset Management for the deal. The property belonged to a portfolio deal that included 20 shopping malls in 19 mainland Chinese cities for a total transaction price of 8.4 billion RMB. In Haidian District, the 221-room hotel property Chengyuan Building (Tower A) was sold to domestic Jingrui Investment Group for 269 million RMB. In Sanyuanqiao area, Ascendas Hospitality Group sold Ibis Beijing Sanyuan and Novotel Beijing Sanyuan in a portfolio deal for 1.1 billion RMB to a joint venture between domestic Huazhu Hotel Group and US-based private equity firm TPG Capital.  </p><p><strong>Domestic demand from institutional investors remains strong, with value-add opportunities in the office sector continuing to attract interest in the market.</strong> However, as the availability of office assets in core areas continues to be scarce, an increasing number of investors are open to prospects in retail and hotels, and even business parks, especially as new opportunities surface in the market. "Beijing remains an attractive place for investment due to its strong fundamentals," said <strong>Michael Wang</strong>, Head of Investments for JLL North China. "As such, investors are continuing to actively search the market for potential opportunities."</p><h3><strong>Prime Retail</strong></h3><h4><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/20180412_2.png" alt="20180412_2.png" style="margin:5px;" /><br></h4><p><em>Note: Prime Retail refers to the Urban market. *New Supply is inclusive of the Suburban market. </em></p><p><strong>Entertainment tenants expanded in the market with non-conventional cinemas.</strong> Non-conventional cinemas entered the market: boutique cinema Huaxia Cinemas opened at Beijing Uni Fans and Wanda Hoytscinema opened with a dedicated children's screening room at Beijing Hopson One. Other cinema operators were committed to opening new-format cinemas or looking for projects to open these cinemas.</p><p><strong>Following a record supply quarter, just one small project came online in 1Q18</strong>. Located outside of the North Third Ring Road, Beijing Uni Fans opened in the Urban market with 70% commitment. Covering an area of 40,000 sqm, the property is positioned as an F&B and lifestyle project and features two new retail supermarkets, the Tencent-backed Super Species and JD.com's unmanned supermarket. Guiyou Department Store in the CBD re-opened after renovations and introduced several F&B and entertainment tenants to attract nearby white-collar workers. North Star Department Store in Ya'ao closed.</p><p><strong>The increasing "childrenization" of suburban properties will help landlords draw more young families to their projects, making these properties a hot spot for children's retailers</strong>. "Most new suburban malls are setting aside at least one entire floor for children's tenants, and we continue to see segmentation within this retail category expanding to include all kinds of children's tenants, be it fashion, entertainment, or education," said <strong>Queenie Qu</strong>, Head of Landlord Representative, Retail Leasing for JLL in Beijing. "Children's themes are also being targeted as the sole or overwhelming focus for a small, but growing number of suburban malls. As such, we can expect children's retailers to continue serving strong as the main source of suburban demand."</p><h3><strong>Industrial</strong><br></h3><h4 style="text-align:left;"><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/20180412_3.png" alt="20180412_3.png" style="margin:5px;" /><br></h4><p><strong>Demand from e-commerce companies, 3PLs, and manufacturers remained stable</strong>. In the emerging Pinggu submarket, an MNC auto parts manufacturer took up the last large space in the market, driving the majority of net absorption (23,900 sqm) for the quarter. Large e-commerce players remained keen to expand in the market, but the lack of large space in mature areas held back some of this demand.</p><p><strong>Marking a new five-year low, the overall vacancy rate fell to just 0.5% in the quarter, following the large take-up in Pinggu</strong>. Meanwhile, total logistics stock remained unchanged at 2 million sqm, as no new supply entered the market for a fourth consecutive quarter. No primary land plots for warehouse use were transacted in 1Q18.</p><p><strong>Rental growth saw a significant increase of 2.1% q-o-q in the quarter, as landlords took advantage of strong pricing power due to the tight-vacancy environment</strong>. Particularly in prime areas, landlords had the upper-hand in negotiating small spaces, helping overall rents to climb to RMB 1.20 per sqm per day. GLP, one of the largest players in the logistics market, acquired a project in Beiwu, Shunyi for over RMB 200 million, and plans to re-develop it into a modern, multi-storey warehouse. "Given the limited future supply for Beijing's warehouse market, this is an attractive prospect for GLP," said <strong>Michael Hart</strong>, Head of Industrial for North China at JLL. "Landlords hold a favourable position in the market, and over the coming months, we can expect to see them using this to their advantage, especially as they negotiate space that frees up in the mature submarkets."</p><h3><strong>High-end Residential</strong></h3><h4 style="text-align:left;"><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/20180412_44.png" alt="20180412_44.png" style="margin:5px;" /><br></h4><p><strong>The Lunar New Year holiday drove the seasonal downturn in sales volume</strong>. The luxury apartment transaction volume decreased 69.0% q-o-q due to the traditionally low season marking Lunar New Year; high-end villa sales were restrained by the lack of new supply, decreasing 52.7% q-o-q over the same period.</p><p><strong>The annual Two Sessions of China's top legislative and advisory bodies in March confirmed that the tight-policy environment would remain in place</strong>. Under the continued high-end residential price restrictions, primary capital values growth for luxury apartments remained negative (-0.8% q-o-q) for a third consecutive quarter. High-end villa primary capital values grew steadily, however, rising 0.8% q-o-q under the limited supply and stable demand. Only four luxury apartment projects were launched; all located near the Fourth Ring Road, the new supply added 231 units to the market. No new villa supply entered the primary sales market in the quarter.</p><p><strong>The development of the rental apartment market continued to be a key priority for authorities</strong>. Developers were encouraged to convert properties into rental apartment projects outside the Third Ring Road, as authorities restricted conversions to residential sales projects within the Fourth Ring Road. "Direction on the development of the housing market was made very clear during China's most important annual political meetings," said Joe Zhou, Head of Research, China for JLL. "Considering that authorities identified the provision of more affordable housing options as a priority for residents in Beijing, we can expect to see further promotion of the rental market going forward."</p><h3><strong>Hotels</strong></h3><h4 style="text-align:left;"><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/20180412_5.png" alt="20180412_5.png" style="margin:5px;" /><br></h4><p><em>Note: Hotels refers to the upscale hotel market. *ADR inclusive of service charge.</em></p><p><strong>Overall market performance continued to recover in the quarter, with the RevPAR y-o-y growth rate recording a significant double-digit increase</strong>. The RevPAR increased 14.1% y-o-y to 630.3 RMB as at YTD February. The rise was driven by a 7.8% y-o-y increase in the ADR, which reached 986.7 RMB, and a 3.6 percentage point-rise (y-o-y) in occupancy, which settled at 63.9%. The strong RevPAR growth rate was also significant as it matched that of 2011 levels, before performance fell due to fallout from the Global Financial Crisis.</p><p><strong>No upscale hotels opened in the quarter, but 2018 is expected to see a supply wave of 11 new hotels enter the market</strong>. The new supply is expected to add more than 2,400 rooms to the market, boosting total supply by 1.7%. Despite the incoming supply, new supply is expected to remain moderate over the forecast horizon. Most of the new hotels in the 2018 pipeline are scheduled to come online in the second half of the year and are dispersed throughout the city, with locations in Wangfujing and Qianmen for the urban areas and Changping and Fengtai for the suburban areas.</p><p><strong>Beijing is expected to remain a highly sought-after city by hotel investors</strong>. Following the portfolio sale of Ibis Sanyuan and Novatel Sanyuan in the quarter, and taking into consideration the rising transaction volume in recent months, we see the market becoming more active. The upward performance trend, scarcity of upscale hotel assets, and moderate future supply pipeline over the forecast horizon indicate that transaction prices still have room for growth.</p><p><strong>Key government priorities are expected to further support strong performance of the market through 2018</strong>. The tight-policy environment restricting new hotels in the urban areas will benefit existing hotels, as future competition is restrained. Moreover, key priorities outlined during China's top political meetings in March, placing an emphasis on improved transport integration, environment protection, and balanced industry development for the Beijing-Tianjin-Hebei region is likely to increase demand from both business and leisure travelers. "Greater Beijing-Tianjin-Hebei integration will have many knock-on effects, such as increasing the number of city conventions, which will draw more travelers to Beijing. As the region becomes more integrated, we can also expect people from surrounding areas to make more frequent weekend trips to Beijing," said <strong>Adela Zu</strong>, Vice President of Hotels & Hospitality for JLL in Beijing. "In addition, the 144-hour visa-free policy introduced for Beijing at end-2017 is expected to attract more foreign tourists from abroad and serve as a further boost to the market." <br></p><p style="text-align:center;">​​– ends –​​</p><p>​​<span style="line-height:20.8px;">​</span><em style="line-height:1.6;">>>>Read more about <a href="http://www.joneslanglasalle.com.cn/china/en-gb/citymarkets/beijing" target="_blank">JLL ​Beijing Page</a></em><br></p><p>​<em style="line-height:1.6;">>>>Read more about </em><em style="line-height:1.6;"></em><em style="line-height:1.6;"><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb/news" style="line-height:1.6;">JLL News</a>​</em><br>​<em style="line-height:1.6;">>>>Read more a​bout​ </em><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb/research" style="line-height:1.6;"><em>JLL Research​​​</em></a><em style="line-height:1.6;"><br></em>​​<br></p><span class="ms-rteFontSize-1 ms-rteThemeForeColor-5-0"><strong><em></em></strong></span><span class="ms-rteFontSize-1 ms-rteThemeForeColor-5-0"><strong><em>About JLL</em></strong></span><p>JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion and fee revenue of $6.7 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000.  As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit<br>, <a target="_blank" href="http://www.joneslanglasalle.com.cn/" rel="nofollow">www.jll.com</a>. </p><p>JJLL has over 50 years of experience in Asia Pacific, with over 37,000 employees operating in 96 offices in 16 countries across the region. The firm won the ‘World’s Best’ and ‘Best in Asia Pacific’ International Property Consultancy at the International Property Awards in 2016 and was named number one real estate investment advisory firm in Asia Pacific for the sixth consecutive year by Real Capital Analytics.  <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/asiapacific">www.jll.com/asiapacific</a>  </p><p>In Greater China, the firm was named ‘Best Property Consultancy in China’ at the International Property Awards Asia Pacific 2016, and has more than 2,200 professionals and 14,000 on-site staff providing quality real estate advice and services in over 80 cities across the country​.  <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb">www.joneslanglasalle.com.cn</a>​​​​​​​​​​​​​​​​​<br></p><p><br></p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88

 

 

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