Old malls morph into offices in Beijing

Interest in converting shopping complexes and similar realty into office spaces continues to remain high in Beijing this year, industry insiders said.

Property firms see higher gains arising from growing demand for offices as various businesses are expanding while new startups are being set up everywhere, according to a recent report from JLL, an international real estate research firm.

Hence, in 2017, buyers showed great interest in converting many old or aging Beijing properties housing retailers and other commercial establishments like hotels into leasable office spaces, given the latter's lucrative nature, it said.