Mainland China’s demand for warehouses plunges as Singapore’s surges: Knight Frank

Quick Summary:

The sluggish mainland China economy weighed on demand for logistics space in Shanghai and Beijing, while Singapore’s warehouse rents rose 10.8 per cent.Hong Kong saw 3.3 per cent rent growth.

The city has seen strong demand for logistics space amid manufacturing growth.

China’s exports reached a 21-month high by value in June, which supported some demand for logistics spaces, but not enough.

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Article Details

Author / Journalist: Xinyi Wu

Category: Business

Markets: Hong KongChinaSingaporeVietnam

Topics: Year Demand China’s Growth Logistics Industrial Spaces Asia-pacific Cent First Rents

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 16:15:50 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 523 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21967981

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