Consumer electronics boom drives Shenzhen property demand

The consumer electronics industry is experiencing sustained growth in both domestic and overseas markets , underpinned by strong consumer demand, global scalability, and rapid technological innovation. This growth is driving expansion across the industry value chain, generating demand not only for office space, but also for retail, warehousing, and industrial space.

Shenzhen is home to many world-leading brands across smartphones, drones, 3D printing, and smart wearables. Leveraging the Great Bay Area's (GBA) robust supply chain ecosystem, many enterprises have anchored their headquarters, production, and warehousing operations in Shenzhen. 

In 2025, consumer electronics firms and their supply chain partners leased nearly 80,000 sqm of Grade A office space in Shenzhen. This was about one-third of the city’s annual net absorption in leasable space. This momentum was supported by major brands expanding into new business lines and product categories. The trend is continuing into 2026, with significant enquiries for office upgrades and expansions, positioning the sector as a key driver of Shenzhen's office market recovery.

Consumer electronics brands are actively expanding their offline store networks. We analyzed the distribution of about 340 retail stores operated by nine prominent consumer electronics brands with national or regional headquarters in Shenzhen.

• Brands in emerging categories (e.g., Bambu Lab and Shokz) have rapidly expanded their offline presence over the past two years. These brands have become a significant new source of leasing demand in shopping malls. They prioritize urban shopping malls over suburban locations to build brand recognition and deepen consumer engagement. Only 38% of their stores are in suburban areas as of 2025. Several emerging brands have opened large-format flagship stores in urban benchmark projects to maximize brand exposure.
• Brands in classical categories (e.g, smartphone brands Honor and Oppo) have a significantly higher proportion of suburban stores compared with emerging brands, reaching 69% in 2025. This is driven by their lower-tier market expansion strategies to reach a broader customer base by opening stores at suburban shopping malls and community areas. At the same time, they have also launched several flagship stores in landmark urban projects to strengthen brand image. For example, Oppo opened its first nationwide Oppo Club store at MixC Shenzhen Bay (Phase II) in 2025.

Figure 1: Nine selected global consumer electronics giants based in Shenzhen

Source: official websites of selected consumer electronics brands, JLL

Figure 2: Number of stores by selected consumer electronics brands in Shenzhen

Source: Official websites of selected consumer electronics brands, JLL

Responding to market demand, consumer electronics brands and their supply chain partners are racing to secure industrial space to expand production capacity. For example, in February 2026, 3D printing giant Bambu Lab announced plans to build a manufacturing headquarter in Guangming District. The new facility aims to produce over 3 million 3D printers annually, which could make it the world's largest 3D printer production hub. Meanwhile, the GBA’s strong logistics infrastructure and industrial clustering advantages have attracted a growing number of companies looking for warehouses in the region, primarily for raw material storage and distribution inventory.

As the industry continues to innovate and expand, demand for office, retail, warehousing and industrial space is expected to remain robust. For landlords and investors, the consumer electronics sector represents a durable source of demand that will continue to support leasing activity in the future.