Bright outlook for Retail market
In 2011, retail sales in Beijing (excluding cars) reached RMB558.7 billion—up 22% year on year. The prime retail market grew rapidly as local and international retailers expanded. New supply reached a high level in the fourth quarter with four new shopping centres opening, adding a total of 241,649 sq m to the prime retail market. Despite the increase in supply, take-up continued to grow steadily, reducing the vacancy rate by 0.3 percentage point to 8.6%.