The following is the China’s 14th five year plan looks forward to the future of real estate From Cushman & Wakefield recommended by recordtrend.com. And this article belongs to the classification: Chinese economy, research report.
On October 21, 2021, Cushman & Wakefield released the annual heavyweight Research Report of China’s new influence plan, China’s “14th five year plan – looking forward to the future of real estate”, in Beijing.
Zhaojinquan, chief executive of Greater China of Cushman & Wakefield, said: in the future, the “14th five year plan” will further balance the social and economic differences between urban and rural residents. The plan also hopes to improve the quality of innovation and pay more attention to environmental sustainability. Some of these goals are expected to be supported by China’s “new urbanization” plan, especially the development of urban agglomerations.
China’s 14th five year plan contains a number of socio-economic objectives. The areas that the plan hopes to further improve include: ο Innovation, technology and “new infrastructure” ο Environmental sustainability ο Urban Agglomeration Development
Innovation, technology and “new infrastructure”
No matter now or in the future, technology will be one of the key driving forces for China’s construction and development. Therefore, it has received extensive attention in the “14th five year plan”. Especially in China’s science and technology industry, R & D expenditure has played a great role in promoting the development of the industry in recent years.
Considering the impact of innovation, technology and “new infrastructure construction” on the future real estate industry, a series of technology related application directions will continue to emerge. The emergence of 1.5g will change China’s social and economic pattern. In China, according to the estimation of China information and Communication Research Institute, the commercialization of 5g in China will promote the scale of information consumption and total economy from more than 8 trillion yuan in 2020 to 10.6 trillion yuan in 2025. With the development of 5g technology and virtual manufacturing technology, 5g technology will gradually bring great changes to the urban economy and intelligent manufacturing.
2. According to the prediction of 36 krypton Research Institute, by 2025, the scale of China’s data center industry is expected to reach 595.2 billion yuan, three times the current total. In 2020, China’s data center has attracted more attention from investors. We expect that this attention will continue to increase with the continuous development of the data center industry, the development of the real estate investment trust fund market and the development of green financing in China. 3. with the increase of investment in urban infrastructure, intelligent autonomous vehicle (AVS) have recently become the focus of attention. The world has invested about US $80billion in connected autonomous vehicle (Cavs), so it is only a matter of time before this new technology leads us to the future of urban transportation. 4. The intelligent commercial building platform can not only enable owners and operators to effectively achieve the objectives of their property, but also enable the intelligent commercial building to reduce the cost of water and energy consumption, reduce the negative impact on environmental sustainability, and better attract and retain users. 5. Since the end of the most stringent epidemic control in China, people have some new possibilities in office methods. Many office workers want to experience more possibilities and have more choices in work methods and places. The intelligent office cabin can provide a relatively independent space for a single employee. Employees can focus on their work here, answer teleconferences or participate in online seminars. The office cabin with large space is also suitable for the discussion of multi person meetings.
In the future, China’s “14th five year plan” will be based on the environmental sustainable development measures implemented in the past, and strengthen the climate and air pollution control measures, so as to embark on a healthy and clean road and strive to achieve the goal of carbon neutrality by 2060. China’s real estate industry plays an extremely important role in the process of achieving this goal. Green finance, energy-saving materials, intelligent equipment, prefabricated modular buildings and other methods and technologies can effectively reduce the energy use and carbon emissions of Chinese buildings. At the same time, by building a rental structure, commercial buildings can be more efficient, so as to achieve a smaller carbon footprint. Even commercial real estate with low performance can be transformed into a greener and more economical space.
Over time, investors, developers and owners of China’s commercial real estate have gradually realized that responsible investment principles and ESG investment are increasingly welcomed by capital, which also urges developers to transition from the role of simply developing green buildings to taking sustainable development strategy as their primary business according to the requirements of the capital market.
Environmentally friendly commercial real estate projects usually enjoy higher rents and higher capital value, and are often more flexible in the face of various market downturn, as they are still developing in urban agglomerations
The 14th five year plan puts forward different requirements for urban agglomerations, metropolitan areas, central cities, large and medium-sized cities suitable for living and working, counties, etc. This is also the first time to elaborate the “metropolitan area” and related contents in an independent chapter in the medium and long-term plan of national development. China’s urban agglomeration driven by central cities has an impact not only on China’s economy, but also on the global economy. These urban agglomerations can gather a lot of resources, such as talents, transportation and education. Closely linked economic networks can also promote the rational layout of industries and strengthen the effective allocation and utilization of resources, so as to improve the growth rate and scale of regional economy.
Shaun Brodie, director of tenant research in Greater China of Cushman & Wakefield, said: looking ahead, the 14th five year plan will improve the quality of innovation, redouble efforts in environmental sustainability, and promote China’s “new urbanization” and urban agglomeration development. Real estate investors, developers, owners and tenants need to pay close attention to the development trend of relevant fields and fully understand the important impact of these development trends on the real estate industry. In this way, their enterprises and organizations can make better use of the emerging business opportunities in the future.
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