Global Cities Retail guide. Cushman & Wakefield 2012/2013. beijing

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1 Cushman & Wakefield 2012/2013 beijing

2 Overview Photo / sanfamedia.com China s national capital outperformed all other Chinese cities in terms of total retail sales with sales of RMB690 billion in Current stock of shopping centers is 7.71 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, boosts the sales of luxury brands in Beijing, while two billion domestic and international tourists also make a strong contribution.

3 Overview 20million Total Population 200million Number of staying visits Beijing attracted in 2011 RMB 321billion Spending by tourists in million SQM Amount of shopping centre type space being completed in the next three years

4 Key Retail Areas & Streets WANGFUJING Wangfujing is Beijing s unique pedestrian high street that attracts tourists from China and overseas as well as locals. Here established malls and street shops offer a range of brands from Burberry and Zegna to Apple and Gap. A range of major new brands are looking to enter the Wangfujing market which has very strong pedestrian flow, however there is very limited available space. 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 centers 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. The retail landscape in Xidan area is poised to move upscale with the completion in 2013 of Galeries Lafayette which is expected to bring some luxury elements to Xidan. S CBD Beijing s CBD area is the first landing place for many high end brands. The area has a full range of luxury brands including in high end developments such as Shin Kong Place, China World Trade Centre and Yintai Centre. SANLITUN Sanlitun is now popular amongst retailers largely due to the success of Sanlitun Village whose low-rise architecture provides flagships for Adidas, Uniqlo, Apple, as well as upmarket brands Balenciaga, Moncler and Montblanc. YANSHA Nearby Yansha area is surrounded by diplomatic compounds and high end residential developments. The area has both mid market brands in developments including Solana, as well as high end brands in City Mall. Photos / maltman23 on Flickr

5 Key Retail Areas & Streets 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. 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. XUANWU-CHONGWEN The Xuanwu-Chongwen retail area is focused on the mid market. In a mature residential area and with convenient transportation access the area is home to brands including Sephora, H&M and C&A. CUI WEI The Cui Wei area including Lei Mall may be the next destination for luxury and middle-end brands, with Juicy Couture, DKNY and Club Monaco moving into this part of Beijng. WANGJING Wangjing is an increasingly important office and residential area in northeast Beijing. The retail market is also developing with some good mid market centres including CapitaMall and New World Dept. Store. Over the coming 3 years Beijing will see some 2.23 million sq.m of shopping centre type space being completed, major projects including Beijing Palace, Parkview Green and Indigo. Photos / maltman23 on Flickr

6 Key Retail Areas & Streets market overview Data as of April 2012 KEY AREAS/ STREETS/SHOPPING CENTERS CONSUMER PROFILE MAJOR RETAILERS PRESENT NEW ENTRANTS TYPICAL RENT FOR UNIT OF 2,000 SQFT RANGE OF UNIT SIZES 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 Apple, Zara, Uniqlo, Mango, Watsons, KFC, McDonalds DKNY, Juicy Couture ,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 children s wear. Hermes, LV, Chanel, Dior, Emporio Armani, Gucci, Prada, Gap, Uniqlo Apple, Forever ,000 Xuanwu-Chongwen Mainly attracts local residents and white collar workers from the surrounding area. H&M, C&A Zara, Sephora, C&A 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 Chocolate, H&M, C&A, Wallendorf, Tiffany & Co ,000 Zhongguancun Targeting local residents and high-tech workers living in the surrounding area, and university students H&M, C&A, Zara, Alfred Dunhill, Cerruti 1881 C&A, Sephora, Mango Sanlitun Expatriates and local shoppers with an international outlook seeking fashion and lifestyle brands. i.t., CK Jeans, Uniqlo, Balenciaga, Moncler, Dsquared, Diesel Moncler, Christian Louboutin ,000 Ya ao Mainly attracts local residents. Lacoste, Uniqlo Montblanc, Max Mara Wangjing Targeting local residents, Korean and Japanese expatriates living in the surrounding area. H&M, Uniqlo, Zara, C&A Hollister, DKNY, H&M

7 Food & Beverage 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 and there is a range of 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 in Qianmen Street. High-end Chinese cuisine also favors this location with Tiandi, the award winning Chinese restaurant, also located here. 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. market overview KEY AREAS Wangfujing Dongcheng CBD Xidan CONSUMER PROFILE Tourists worldwide and local white collars White collar workers, officials, high end tourists White collars and affluent residents living in surrounding areas Consumers ranging from affluent people from all of the China to white collars food & beverage operators including KFC, McDonalds, Haidilao, rbt Da Dong, Lei Garden, Shanghai Min, Maison Boulud South Beauty, Inagiku, WA Show, IFW, Sunshine Kitchen Bellagio KFC, McDonald s, Pizza Hut, Ding Tai Fung, rbt Data as of April 2012 rent for 3,500 sqft unit The CBD and Sanlitun areas continue to be popular for fine dining restaurants. New high end entrants continue to arrive in the market including Inagiku, a recent arrival in the Park Life Shopping Centre and Korean Restaurant Ssam in Sanlitun Soho. Financial Street Zhongguancun Government officials and white collar workers Consumers ranging from affluent people from all of the China to white collars South Memory, Da Dong, Su Zhe Hui Quan Ju De, DelizieFollie, Saizeriya, Tea DaYe, Gomax, Prefere, Spr Coffee

8 JOHN STRACHAN Global - EMEA Ph: Portman Square London, England W1A 3BG john.strachan@eur.cushwake.com MATT WINN Americas Ph: Ivan Allen Jr. Boulevard, Suite 700 Atlanta, GA matt.winn@cushwake.com SANJAY VERMA Asia Pacific Ph: /F The Headquarter Building 168 Xizang Zhong Lu Shanghai, China PRCi sanjay.verma@ap.cushwake.com No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals Cushman & Wakefield, Inc. All rights reserved.