Xujiahui, a commercial hub in downtown Shanghai that has lost its luster since the 1990s, could win back some of its shine as the local government renovates aging retail centres and Hong Kong developer Sun Hung Kai brings its biggest mainland real estate project to the southwest corner of central Shanghai.
Some of the world’s biggest property investors are already dumping London assets post-Brexit and the potential UK slump could bring a boon for US asset holders as cash-rich Chinese investors look for a new place to park their funds.
WeWork, the Manhattan-based communal office provider, launched its first Asia location in Shanghai this month as companies work to gauge the depth of demand for co-working space in Asia.
Property values will increasingly be driven by public transportation, rather than interest rates as more and more people jam themselves into the world’s cities, says Rob Speyer, CEO of US developer Tishman Speyer.
Tourists in mainland China will now be able to explore Fantasyland, get photographed with Mickey Mouse and ride Dumbo the Flying Elephant at the new Shanghai Disney Resort, which has its grand opening this week.
Singapore-listed Ascendas REIT is selling a logistics center just outside Shanghai to Goodman Group as the Australian industrial developer expands its China portfolio.