Institutions: Supplying high-rise enterprises, with a stock exceeding tens of millions, the vacancy rate of Chengdu office buildings is rising.

According to a report released by JLL, as of the end of the second quarter, the vacancy rate of Grade A office buildings in Chengdu reached 32.8%, an increase of 1.7 percentage points in the first half of the year. In particular, the financial district has climbed to 28.1% by the end of the quarter, with a cumulative increase of 5.8 percentage points in the first half of the year. It is expected that in the second half of the year, the financial district will welcome approximately 212,000 square meters of Grade A office building supply, and the vacancy rate in the financial district may exceed 35% by the end of the year. With insufficient incremental demand and high vacancy pressure, office rents in Chengdu continue to decline. By the end of the quarter, the average face rent of Grade A office buildings in Chengdu has dropped to 77.3 yuan per square meter per month, with a cumulative decrease of 3.7% in the first half of the year. Furthermore, the average rent-free months of Grade A office buildings in the city has reached 1.7 months per year, and after deducting rent-free incentives, the net effective rent has decreased to 66.1 yuan per square meter per month.