1、ASIA-PACIFIC OFFICE DEMANDNAVIGATING NAVIGATING EXPANSIONARY EXPANSIONARY MARKETSMARKETSChinese MainlandIndiaSoutheast AsiaCUSHMAN&WAKEFIELDKEY MESSAGESNAVIGATING EXPANSIONARY MARKETSFinance,TMT,and professional services still anchor the market,but new sectors including Bio-manufacturing,AI and Quan

2、tum computing are gaining ground.These new entrants are not merely looking for office spaces-they are seeking platforms for innovation.Customisation and flexibility are becoming standard expectations.Forward-thinking tenants are working hand-in-hand with landlords to co-create adaptive,tech-enabled,

3、and ESG-aligned workplaces that support long-term growth.While the regions industrial sector remains a focal point due to its strategic importance in supply chain diversification,office demand has steadily increased,driven by the regions flourishing business landscape.The Banking and Finance sector

4、has emerged as a key office demand driver across most SEA countries,though each market has its own specialisation in other industry sectors including technology,business-process outsourcing and healthcare.Vacancy rates have risen across most SEA markets,though tenant demand for high-quality stock me

5、ans that top-tier buildings are defying elevated vacancy rates to achieve record-high rental levels.The Asia-Pacific office market has expanded rapidly over the past decade.Grade-A office stock has nearly doubled to over 2.3 billion square feet,while occupied space has increased by almost 900 millio

6、n square feet.Two-thirds of this demand has been driven by 17 cities across India,Southeast Asia and the Chinese mainland.Each market has its own story to tell.India is one of the strongest performing office markets globally.What was initially perceived as a rebound effect from the pandemic-induced