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Google chooses Guangzhou over Hangzhou, why?
Seeing the news that Google has settled in Zhujiang New Town West Tower in Guangzhou, I can't help but feel emotional: Guangzhou Tianhe's ability to attract investment truly lives up to its reputation, but at the same time, the deep-seated anxiety of the core CBD in first-tier cities is also fully exposed.
As everyone knows, in the past two years, the vacancy rate of Grade A office buildings nationwide has been generally high, and Guangzhou has also been deeply stuck in the dilemma of office space absorption.
Being able to attract a tech giant like Google to establish physical service projects undoubtedly gives Zhujiang New Town a strong boost, which can drive a cluster of upstream and downstream cross-border digital and intelligent enterprises, forming a new ecosystem.
But the contradiction is: Google's project is more about "service empowerment" and not a regional headquarters or a large-scale self-use office, so its direct help in reducing office space vacancy is limited.
Looking at Tianhe's recent layout, SKP, Waldorf Astoria, Google, and the Middle East Summit have successively settled in Zhujiang New Town, and the Ma Chang plot even sold a land premium of 23.6 billion yuan, with various top-tier resources all tilting toward the core urban area. Such concentrated investment naturally raises curiosity: how will emerging districts like Financial City and Pazhou in Guangzhou manage to position themselves?
In the current market situation, industrial clustering is a slow process. The biggest concern is that having only the halo of giants may not be enough, as many small and medium office properties below still find it difficult to rent out. Guangzhou's move is very steady, but it's far from the time to relax!