South China offices embrace non-traditional tenant mixes

Office buildings in Shenzhen and Guangzhou are increasingly converted to non-traditional uses including hospitality, healthcare, and education to address supply-demand imbalances and improve asset utilization. In 2025, hospitality absorbed nearly 240,000 sqm of office space in Shenzhen's core areas and 90,000 sqm in Guangzhou, representing approximately 20% of Grade A office new completions in Shenzhen, with limited-service hotels typically signing 10–15 year leases to secure stable long-term income.