Jones Lang LaSalle's latest White Paper The Greatest Olympic Legacy examines how ongoing investment for the 2008 Olympics will herald the birth of a New Beijing. The paper bases its findings on four key areas:
- Transport and Infrastructure
- Residential Property
- Commercial Property
The paper outlines how planners and government bodies are collaborating to achieve their objectives via incentives, land zoning, expansion of new underground lines and integration of retail into these spaces. It also highlights a clear correlation between underground expansion and residential development opportunities. Lastly, the paper suggests that the combination of underground expansion, economic advantage imperative, government zoning and corporate growth will all combine to channel office development into peripheral areas.
Katie Kopec, lead director of Jones Lang LaSalle's Development and Asset Strategy, said: "Beijing is in the midst of fundamental change as city planners begin to a take more realistic and proactive approach to orchestrating the city's future development. The Olympic Games has accelerated many of these changes, and the substantial ongoing and expanding underground infrastructure is an investment in Beijing's future. Greater connectivity and the creation of decentralised commercial hubs will facilitate continued economic and population growth in Beijing and create a myriad of opportunities for developers, investors and occupiers."
Katie added: "Jones Lang LaSalle has a strong track record in working with the Olympics and the firm has demonstrated its ability to manage large, complex projects successfully. The team in London is providing advisory, leasing and management services for a mixed-use urban village adjacent to the site of the 2012 Summer Games and advising on the Press and Media Centre. Whilst the team in Russia are advising Sochi for the Winter Games 2014 and in the US, the team are supporting Chicago's bid for the 2016 Olympics, advising on developing sporting venues and on the private development of the Olympic Village."
Source: Jones Lang LaSalle