Shanghai has too much room to work in

Over-capacity and weakening demand make now a good time to take a look at ShanghaiÆs office sector.

In recent years, the developers of Shanghai's top-notch office blocks faced agreeable problems how to find the next good plot of land and how high to build on it. The demand for A-grade office space was insatiable as the target tenants -- multinationals -- were typically increasing headcount by around 10% a year, prompting a construction boom. Even in a buoyant market, that much building was going to increase vacancy rates and push down rents. The problem for the developers...

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