2021-11-03-第一太平戴维斯-天津零售_2021年第三季度_2页_2mb

Tianjin Retail Market Summary, Q3 2021

Key Developments in Q3 2021:

• Multiple new shopping centers opened, including Renhong Yisidan (74,000 sqm) in the Old City Central Management Area, Jijing Tian Di (80,000 sqm) in Binhai New Area, and Wanda Plaza (140,000 sqm) in Dongli District, adding nearly 300,000 sqm of new supply.
• Total gross leasable area reached 399,600 sqm by the end of Q3.
• Average vacancy rate increased to 12.8%, driven by new entrants, while rental rates decreased to 331.3 RMB/m²/month, down 3.3% year-on-year.

Sub-Area Performance:

• Core areas like the Heping-Binjiang-Nanjing Road circle maintained low vacancy (5%) and stable or rising rentals.
• Non-core areas, such as Friendship Road and Binhai areas, saw higher vacancy rates due to new projects, with some rental decreases.

Economic and Consumer Trends:

• Q1-8 2021 retail sales in Tianjin grew 10%, with strong performance in sectors like cosmetics, gold and silver jewelry, and new energy vehicles.
• Retail market innovation includes first-store openings, immersive experiences (e.g., Hanfu shops), and enhanced shopping scenarios, boosting consumer traffic.

Future Outlook:

• Q4 2021 expected to add approximately 270,000 sqm of new supply with openings of Binhai Wuyue Plaza and Binhai Jinyu Jiamin Mall, further developing the market.
• Continued focus on market upgrades and consumer engagement projected to drive retail growth.