“Leasing demand in Tianjin has shown early signs of recovery, but elevated vacancy will take time to absorb. Policy support linked to the SCO summit should help improve medium-term market confidence.” – Vincent Li , Savills Research



Market Adjustment Deepens

• Kerry Centre Tianjin – Corporate Plaza (天津嘉里中心企业广场) launched in H2/2025, adding 93,000 sqm of new Grade A supply. Total Grade A stock reached 1.57 million sqm by YE2025.

• he citywide Grade A vacancy rate stood at 36.9% in Q4/2025, up 1.8 ppts QoQ and 2.0 ppts YoY.

• rade A rents fell 0.6% QoQ in Q4/2025 to an average of RMB93.4 psm pmth, down 7.7% YoY.

• Net take-up totalled around 25,000 sqm in 2025, influenced by new project launches in core submarkets.

• Information technology and professional services firms were the most active sources of leasing demand during the fourth quarter.

• New projects, supported by stronger product quality and developer strength, achieved relatively solid leasing performance, increasing competitive pressure on existing buildings in the Haihe Riverside submarket.