China’s Office Supply Set to Double Amid Building Frenzy: Chart
A general view shows the skyline of a central business district in Beijing on November 27, 2013. Foreign investment into China rose 5.77 percent on year in the first 10 months of 2013, the government said on November 19. AFP PHOTO / WANG ZHAO (Photo credit should read WANG ZHAO/AFP/Getty Images)
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A building binge is under way in China as the government strives to revive sluggish real estate investment. Properties under construction will double the supply of commercial space to 10.7 million square meters (115.2 million square feet) this year, and will lift the vacancy rate nationwide to 21.5 percent from 13.8 percent in 2015, according to Cushman & Wakefield Inc.