IN three years' time the amount of grade A office space in Shanghai will have increased by an astronomical factor of 16 over the 1994 amount, a Sanwa Bank report has found.
At the end of 1994, there was around 2.15 million square feet of grade A office space but this is expected to reach 33.4 million sq ft by 1998, the report said.
It said next year's supply would be three times larger than that in 1995 whereas that in 1997 will be around two times larger than 1996.
Shanghai's current supply is already large when compared to many cities in the region.
Hong Kong's stock of grade A offices is equivalent to five per cent of Shanghai's supply and the stock in Tokyo's District 23 represents three per cent.
However, supply in Shanghai is described as tight and demand continues to grow, swelled by the number of foreign companies wanting to set up there - 10,000 had been approved by the end of last year.
