China Jinmao: 2022 Likely a Trough but Slow Recovery in 2023

China Jinmao was well known for its portfolio of quality investment properties, consisting of high-grade office space and luxury hotels. Its iconic asset, Shanghai Jinmao Tower, completed in 1999, stood as the tallest building in China in nearly a decade and was instrumental in turning the city’s Pudong district into the country’s financial center. After the IPO in 2007, however, the company achieved subpar growth relative to its peers where many focused on development properties under a quick turn asset model.