“As Financial City East continues to take shape, new supply is supporting leasing activity, with occupiers actively pursuing relocation and upgrade opportunities.” —— Sophy Pan, RESEARCH



Financial City East Gains Momentum

•Four office towers at Jiaozi Financial Street entered the market in the Financial City East submarket, adding 106,000 sqm of new supply to Chengdu’s Grade A office market in Q1/2026.

•Leasing activity was driven by several large transactions, with deals exceeding 2,000 sqm accounting for 37% of total recorded leasing volume during the quarter.

•Improved leasing performance in several existing projects supported citywide net absorption, which reached 37,000 sqm in Q1/2026, up 37% YoY but down 11% QoQ.

•The citywide Grade A office vacancy rate remained elevated, rising 0.4 ppts QoQ to 36.7% in Q1/2026, up 5.4 ppts YoY.

•Relocations and upgrades continued to dominate leasing activity, while limited new set-up and expansion demand added pressure to existing stock, keeping rents under downward pressure, with the citywide average falling to RMB79.2 psm pmth in Q1/2026.