In the third quarter of this year, the overall grade A office market in Shenzhen continued to adjust. According to statistics from market research firm JLL, in the third quarter, about 40% of the leased transaction area of Class A office buildings in Shenzhen came from demand for upgrades and relocation. In a context where demand for new expansion is relatively limited, cost-driven upgrades and relocations have become an important source of demand, effectively supporting the elimination of office space.

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