Beijing

China’s national capital outperformed all other Chinese cities in terms of total retail sales again with sales of RMB910 billion in 2014. Current stock of shopping centers is 6.94 million sq.m of GFA.


As well as having a resident population of 20 million, the Beijing retail market also benefits from being a center of government and tourism. Gifting, which is deep-rooted in Chinese culture, has historically been a major factor boosting the sales of luxury brands, however in recent years this has been restricted by government. Over 200 million tourist nights in Beijing also provide a boost to retail sales.

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Cushman & Wakefield Inc, Beijing

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WANGFUJING: 39.916096, 116.411177
XIDAN: 39.907357, 116.377221
CBD: 39.904947, 116.451896
Sanlitun: 39.932644, 116.455765
Yansha: 39.952056, 116.465549
ZHONGGUANCUN: 39.983910, 116.316488
XUANWU-CHONGWEN: 39.906576, 116.377831
CUI WEI: 39.907750, 116.302088
YA AO: 39.998164, 116.405640
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Xidan

Xidan is a well known traditional city-level retail submarket which is particularly popular amongst the youth. Xidan currently has a mix of shopping centres and department stores totalling around 400,000 sq.m, but is best known for Joy City which houses an exciting range of mid market brands including Apple, Gap and Zara. Xidan’s retail area has moved up-scale with the completion in 2014 of Galeries Lafayette, which has brought some luxury elements to Xidan.
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Wangfujing

Wangfujing, located in the Dongcheng District, and is one of the Chinese capital's most famous shopping areas. The majority of the main shopping area is pedestrianised and is very popular shopping destination for both tourists and residents of the capital. Here, established malls and street shops offer a range of brands from Louis Vuittion, Chanel, Burberry, and Zegna to Apple, Gap and Forever 21. A range of major new brands are looking to enter the Wangfujing market with its strong pedestrian flow, however, there is very limited available space. The Wangfujing shopping district is aiming to become a global shopping destination on a par with New York's Fifth Avenue, the Champs-Elysees in Paris, or Ginza in Tokyo.
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CBD

The Beijing Central Business District (CBD) is the primary area of finance, media, and retail in town. The area has a full range of luxury brands included in high-end developments such as Shin Kong Place, China World Trade Centre and Yintai Centre.
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Sanlitun

Sanlitun is now popular amongst retailers largely due to the success of Taikooli, whose low-rise architecture provides flagships for Adidas, Uniqlo, Apple, as well as upmarket brands Balenciaga, Moncler and Vera Wang.
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Yansha

The nearby Yansha area is surrounded by diplomatic compounds and high-end residential developments. The area has both mid-market brands in developments such as Solana, as well as high-end brands in City Mall.
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Xuanwu-Chongwen

The Xuanwu-Chongwen retail area is focused on the mid market. In a mature residential area with convenient transportation access, the area is home to brands including Sephora, H&M and Uniqlo.
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Zhongguancun

Zhongguancun is focused on high-tech business and is the location of several of Beijing’s major universities and research institutes. Currently, there are a number of good mid-market shopping centres including EC Mall and The Gate.
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Ya Ao

The residential population in the Ya Ao area has been burgeoning over the past few years, and as a result, supporting retail developments have followed. Currently there appears to be some oversupply in the area with high vacancy in several malls.
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Cui Wei

The Cui Wei area including Charter Shopping Mall may be the next destination for luxury and middle-end brands, with JIMMY CHOO, LONGCHAMP and MONTBLANC moving into this part of Beijng.

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Cushman & Wakefield, Inc. - Shopping Centers of Beijing

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Xidan Joy City : 39.910922, 116.373626
Oriental Plaza: 39.907379, 116.386726
Shin Kong Place: 39.908274, 116.477846
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Xidan Joy City

Joy City is a well-known commercial real estate brand of COFCO. It is a large shopping center with shopping, dining, entertainment and leisure functions. Xidan Joy City is COFCO’s first commercial brand, whose core brand strategy is to be “China's authentic international city for youth." It has been persistent in pursuing fashion and trend, and the unique expression for creativeness. After five years of promotion, Xidan Joy City has become a classic case for real estate promotion and laid a solid foundation for other Joy City brands in other cities. In 2014, the total sales of the mall reached RMB3.6 billion. It houses the best selling Apple Store in the world.
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Oriental Plaza

The mall is an integral part of Oriental Plaza, one of the largest commercial complexes in Asia. Situated in the heart of Beijing, the complex is located between Gold Street (Wangfujing Street) and Silver Street (North Dongdan Street). The Malls is a popular shopping destination for both local residents and visitors alike. The mall has a great facade showcasing the brands along Chang’an Avenue, one of the most important street in Beijing. In 2014, the total sales of the mall amounted RMB2.35 billion.
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Shin Kong Place

Shin Kong Place, located along Chang’an Avenue East and on the northeast corner of Dawang Bridge, is near Fourth Ring Road and sits on the metro line 1. Shin Kong Place houses more than 900 brands from the whole world. It has been the ideal one-stop shopping center, with its leisurely shopping environment, and considerate and warm service. In 2014, the total sales of the mall ranked number 1in all of China, totalling RMB 7.5 billion.

SHOPPING CENTER TO WATCH OUT FOR
China World Phase 3 Stage B
Total Size (Sq.m) 100,000
- Retail GLA50,000
- Leisure/Entertainment GLAn/a
Planned Opening Date Sep, 2016
Consumer Profile Local residents, white collars
Description After China World Phase 3 Stage B is completed, the area of China World Mall will be twice as big as current size. Therefore it has been deemed the strongest threat to Shin Kong Place who also located in CBD submarket.
SHOPPING CENTER TO WATCH OUT FOR
WF CENTRAL
Total Size (Sq.m) 21,000
- Retail GLA21,000
- Leisure/Entertainment GLAn/a
Planned Opening Date 2016
Consumer Profile Local residents, tourists, white collars
Description WF CENTRAL will house leading brands from around the world, as well as a small luxury hotel, enhancing an area that has historically been one of Beijing's leading retail and tourist destinations. WF CENTRAL is Hongkong Land's first large-scale flagship commercial development in the nation's capital.

MARKET OVERVIEW
KEY AREAS / STREETS/SHOPPING CENTERSCONSUMER PROFILEMAJOR RETAILERS PRESENTNEW ENTRANTSTYPICAL RENT FOR UNIT OF 200 SQMRANGE OF UNIT SIZES (SQM)
Xidan Traditionally targeted at young and trendy crowd, with mid price retailers. Retail landscape is poised to moved upscale with the addition of Galeries Lafayette in 2014. Apple, Zara, H&M, Uniqlo, Dingtaifeng, Food Republici.tMichael Kors, Carven, The Kooples, Alexander Mcqueen, Balenciaga, Bottega Veneta, Comme Des Garcons¥60-70 per sqm/day50 - 2,000
Xuanwu-Chongwen Mainly attracts local young consumers with middle income from the surrounding area.ZARA, H&M, C&A, MUJINew Look, Uniqlo¥27-34 per sqm/day50 - 1,000
Zhongguancun Targeting local residents and high-tech workers living in the surrounding area, and university studentsH&M, C&A, Zara, Alfred Dunhill, Lacoste, Cerruti 1881 New Look, Moussy¥27-50 per sqm/day50 - 1,000
Sanlitun Expatriates and local shoppers with an international outlook seeking fashion and lifestyle brands. i.t., Apple, Starbucks, Uniqlo, Miu Miu, Christian Louboutin, Balenciaga, Moncler, Lanvin, Page OneVera Wang, Martin Margiela Sandro, Maje¥50-71 per sqm/day100 - 6,000
Ya’ao Mainly attracts local residents.Zara, Lacoste, Uniqlo Zara, Uniqlo, Massimo Dutti, Costa¥20-27 per sqm/day50 - 200
Wangjing Targeting local residents, Korean and Japanese expatriates living in the surrounding area.H&M, Uniqlo, Zara, Sephora. i.tGAP¥73-100 per sqm/day50 - 1,000
Wangfujing Beijing’s traditional pedestrian street offers a mix of high end products with a focus on watches and jewelry as well as mid market fashions and long established local retailers for books and childrens wear.Hermes, LV, Chanel, Burberry, Emporio Armani, Prada, Gap, Uniqlo,Zara, H&M, AppleH&M, TOMS, Ice Monster ¥73-100 per sqm/day100 - 3,000
CBD Attracts local residents, white collar workers from the surrounding area and luxury consumers from across China.LV, Hermes, Chanel, Prada, Cartier, Chaumet, De Beers, MGM Givenchy, Berluti¥50-120 per sqm/day100 - 2,000
Seasons PlaceWhite collar workers, government officialsLouis Vuitton, Gucci, Lane CrawfordLoewe, Penny Black, Marian Rinaldi, IBlues, Marella¥60-84 per sqm/day150-600
Oriental PlazaWhite collar workers, local residents, tourists Ermenegildo Zegna, Bally, Burberry, Vacheron ConstantinTOMS¥80-100 per sqm/day150-400
Jinbao PlaceWhite collar workers, local residentsGucci, Bottega VenettaVicktor Rolf¥50-60 per sqm/day150-600
Shin Kong PlaceWhite collar workers, local residents, luxury consumers from all over the countryGucci, Prada, Chanel, Bottega Venetta10 Corso Como, Brunello Cucinelli, Nicholas Kirkwood, Giuseppe Zanotti, Valentino¥80-100 per sqm/day150-600
China WorldWhite collar workers, local residents, luxury consumers from all over the countryLouis Vuitton, Hermes, Gucci, Chanel¥80-120 per sqm/day150-400
Park LifeWhite collars, local residentsHermes, Cartier, Giorgio Armani, Dolce & GabbanaChristin Louboutin, MyPLAY¥60-80 per sqm/day100-400
Sanlitun Village, NorthWhite collars, local residentsMiu Miu, Lanvin, Balmain, I.T., Emporio ArmaniVera Wang, Maison Martin Margiela¥40-50 per sqm/day200-500

Data as of April 2015

Beijing is the capital of China and the center of culture and politics. Starting more than a thousand years ago, chefs from across China came to Beijing to display their skills, and now the F&B market still shows these influences. From the exotic flavors of Yunnan to rustic Xinjiang and delicate Cantonese cuisine, Beijing can cater to all tastes. With a growing international business and diplomatic community, the range of foreign foods is growing rapidly, with excellent Japanese, Italian, French and fusion restaurants to choose from.

The Qianmen / Dongcheng area, close to the many traditional buildings of the Forbidden City, is emerging as a key high-end dining destination. Maison Boulud provides exclusive French cuisine in the refurbished American Embassy Building in Qianmen, while Capital M provides excellent fusion cuisine also in a traditional building on Qianmen Street. High-end Chinese cuisine also favors this location with Tiandi, the award winning Chinese restaurant, also located there.

For most young people and white collar workers, Sanlitun is one of the key destinations, with a mix of restaurants and bars including Bei, Muse, Xiaonanguo, Gung Ho!, The Tree, and The Apothecary.

The CBD and Sanlitun areas continue to be popular for fine dining restaurants. New high-end entrants continue to arrive in the market, including My Humble House in the newly opened Parkview Green, and Korean Restaurant Jubang in Sanlitun Nali Patio.

MARKET OVERVIEW
KEY AREASCONSUMER PROFILEFOOD & BEVERAGE OPERATOR INCLUDINGRENT FOR 350 SQM UNIT
Wangfujing Tourists worldwide and local white collarsKFC, McDonalds, Haidilao, rbt ¥8-30 per sqm/day
Sanlitun White collar workers, officials , young customersElement Fresh, Wagas, Pizza Express, Let’s Burger¥8-15 per sqm/day
CBD White collars and affluent residents living in surrounding areasElement Fresh, Dingtaifeng, Inagiku, WA Show, IFW, Sunshine Kitchen Bellagio¥8-30 per sqm/day
Xidan Consumers ranging from affluent people from all of the China to white collars KFC, McDonald’s, Pizza Hut, Ding Tai Fung, rbt¥8-25 per sqm/day
Financial Street Government officials and white collar workersElement Fresh, Da Dong, Su Zhe Hui ¥10-12 per sqm/day
Zhongguancun Consumers ranging from affluent people from all of the China to white collars Quan Ju De, DelizieFollie, Saizeriya, Tea DaYe, Gomax, Prefere, Spr Coffee ¥6-20 per sqm/day

Data as of April 2015


Beijing Contacts

THEODORE KNIPFING

Head of Retail Tenant Representation, China
Units 2606-2609, The Headquarters Building
168 Xizang Zhong Lu, Shanghai, China
Tel: +86 (0)21 2320 0808
Mob: +86 186 1695 0300

SARA GOUGARTY

Director, Retail Tenant Representation, China
Units 2606-2609, The Headquarters Building
168 Xizang Zhong Lu, Shanghai, China
Tel: +86 (0)21 2320 0843
Mob: +86 137 6110 4593

WEIYING GUO

Manager, Retail Tenant Representation, China
Units 2606-2609, The Headquarters Building
168 Xizang Zhong Lu, Shanghai, China
Tel: +86 (0)21 2320 0816
Mob: +86 139 1748 1947