Author: Song Xi | Site Selection 960

Full text: 824 words | Approx. 3 minutes to read

From Luohu to Houhai in Nanshan, this toy company's China headquarters is getting a major upgrade.

Global toy giant ZURU recently announced that its new China headquarters will be located in China Resources Tower in Nanshan District, Shenzhen. The company has leased 8 floors totaling approximately 32,000 square meters and will officially move in in early 2027. ZURU says it may continue to add floors for expansion later.

The deal accounted for a major transaction in Shenzhen's third quarter.

China Resources Tower. Image source: China Resources

Public information shows that China Resources Tower, nicknamed "Spring Bamboo Shoot," is located at the core of the Houhai Financial Headquarters Base, adjacent to the Shenzhen Bay Sports Center, with a distinctive bamboo shoot-shaped silhouette. Developed by China Resources Land, the project broke ground in 2012 and was completed in 2018. It covers a site area of about 67,000 square meters with a gross floor area of about 270,000 square meters, stands 392.5 meters tall, and has 66 above-ground floors and 5 underground floors. Of this, office space accounts for about 210,000 square meters, with floors 2–46 available for external leasing and floors above 46 occupied by China Resources Group itself, including its headquarters functions. External rents are quoted at 150–350 yuan per square meter per month, making it a landmark building of the Houhai Financial Headquarters Base and of Shenzhen.

According to the Officeasy leasing platform under China Resources Land, tenants of the tower include Prudential UK, Everbright Group, King & Wood Mallesons, KPMG, HSBC, DBS Bank, Huatai Securities and others.

Founded in New Zealand in 2003, ZURU rose to prominence with hit products such as soft dart guns, self-sealing water balloons and miniature blind boxes. The company works closely with IP holders including Disney, Warner and Universal. It currently operates core business segments spanning toys, FMCG and housing construction, with products sold to more than 120 countries and regions. Industry estimates put total sales in 2025 at about US$5.3 billion, of which toy business revenue accounts for about US$1.4 billion.

In March this year, the company signed a strategic cooperation framework agreement with the Qingxi Town People's Government of Dongguan City, Guangdong Province, announcing an investment of 880 million yuan to lease more than 230,000 square meters of factory buildings and supporting facilities, focusing on the R&D, production and sales of high-value-added products such as high-end designer toys, pet consumer goods and smart home appliances. Once fully operational, annual output value is expected to exceed 5 billion yuan.

Public information shows that before the relocation, the company's China headquarters was located in the Port Building in Luohu District, Shenzhen, where it handled R&D, design, procurement and supply chain management. The move to China Resources Tower marks a leapfrog upgrade of the company's brand. ZURU's three businesses—ZURU Toys, ZURU Tech (construction technology) and ZURU Edge (FMCG)—will reportedly be integrated in the new headquarters.

JLL's third-quarter report shows that Shenzhen's Grade A office vacancy rate stands at 24.2%, with about 40% of transacted area coming from relocations from non-Grade A to Grade A buildings. Self-use and upgrade needs of technology and consumer brand headquarters are supporting the absorption of existing stock.