Beijing and Shanghai are leading the global construction of life sciences facilities, with nearly 14 million sq ft of research and development (R&D) space under development in China’s top two cities, according to a CBRE report.
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The mainland Chinese cities are driving construction growth in the sector, spurred by rising health challenges and an ageing population.
Last year, construction of such research facilities globally topped 35 million sq ft, of which 7.4 million sq ft was built in Beijing and 6.4 million sq ft in Shanghai, accounting for more than a third of the worldwide total, the property consultancy said in the report released on Tuesday.
“Beijing, Shanghai, Singapore and Greater Tokyo are the largest life sciences markets in the Asia-Pacific region,” said Paul Peeters, senior director and Asia-Pacific head of life sciences, advisory and transaction services at CBRE.
While China leads the world in construction of such facilities, there is strong growth momentum in the life sciences industry in the region, he added.
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Overall, the US leads in terms of existing facilities, with cities such as Boston, San Francisco and San Diego hosting 56 million sq ft, 43.6 million sq ft and 27.3 million sq ft, respectively, according to the report.