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According to Zhu Lianqing, director from the Business Research Center of the Shanghai Academy of Social Sciences, Shanghai is now experiencing a third peak in business real estate investment, reported yesterday's Oriental Morning Post.
Several powerful real estate developers, such as the Shanghai Greenland Group, Shanghai Industrial Holdings Limited, Shimao Group and the K.WAH China Investment, are eyeing the development of high end business buildings and large shopping malls in downtown areas.
"Though residential sales might provide the quickest financial payback in real estate, a big-scale listed company should possess its own business property to ensure a healthy and balanced development, " indicates the executive director of the Debenhan Tie Leung.
Statistics show profits from business related real estate is 1.5 to 2 times greater than that gained from the sales of ordinary residences.
Still, Zhu warned of the risks that may be caused by an over supply of shopping malls.
(Shanghai Daily January 12, 2005)
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