Alongside policy support for traditional occupiers, a new source of demand is emerging from more client-facing uses of office space. While this remains relatively limited in scale, it is helping support leasing activity in selected buildings.

Beijing’s retail market has remained broadly stable under policy support. Consumption upgrading continues to drive activity, while the first-store economy and the integration of commerce, tourism, culture and sports are becoming key drivers of market renewal.

The Beijing en-bloc investment market witnessed a stable start in 2025, with several significant acquisitions completed during the quarter. Office assets continued to be the preference for investors. Educational organizations, listed companies and joint ventures acquired assets that aligned with their specific demand.