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Cushman & Wakefield recently released “Office of the Future Revisited” in which a global view of how the demand for and use of office space is changing. Within the report, three realities were presented:

1. Demand for office space is accelerating;

2. Hybrid is here to stay; and

3. The role of the office has changed.

While all three of these realities are true for the Asia Pacific region, as a geographically large and culturally diverse region, we see nuance in how these realities manifest between markets.

  • Asia Pacific continues to lead the world in office demand
  • The region is, however, lagging somewhat when considering the shift to hybrid working
  • Greater change management needs to be delivered as pressure builds from a growing, younger workforce
  • With the nuances and differences between markets, solutions and approaches will need to vary across the region
  • Corporate employers should begin testing and piloting now to meet the needs of their current and future workforce

本レポートは https://www.cushmanwakefield.com/en/insights/apac-office-of-the-future-revisited

サヴィルズ アジア太平洋不動産投資カントリーガイドは、以下の地域を含む 13 か国をカバーしています。

  • 中国
  • 香港
  • インド
  • インドネシア
  • 日本
  • マレーシア
  • シンガポール
  • 韓国
  • 台湾
  • タイ
  • ベトナム
  • 英国
  • 私たち

本レポートは https://www.savills.com.hk/research_articles/167189/207024-0

  • Pandemic-related border controls, mainland China’s zero-covid policy, the rising cost of global shipping and higher energy prices will continue to pressure Southeast Asian supply chains in 2022 and mostly likely beyond.
  • As occupiers respond by strengthening supply chain resilience and seeking to strike a balance between “just-in-time” and “just-in-case” inventory models, new demand for modern warehouses is poised for substantial growth.
  • Demand will also benefit from the implementation of China Plus One strategies by manufacturers seeking to relocate production out of mainland China and into multiple bases in nearby markets, with ASEAN economies set to be clear winners.
  • As the RCEP and other FTAs take effect, Southeast Asian markets’ tariffs with their major trading partners will fall significantly, benefiting export growth and increasing their role and importance in global supply chains, spurring additional real estate requirements. The continued growth of the region’s e-commerce industry will also continue to drive warehouse demand.
  • As well as booming occupier demand, investment in Southeast Asian manufacturing and logistics real estate will accelerate, with opportunities in developed markets likely to focus on developing institutional grade logistics stock to ride on local consumer market growth and the increasing importance of Southeast Asia in global value chains.

本レポートは https://apacresearch.cbre.com/en/research-and-reports/Asia-Pacific-ViewPoint–Prolonged-Supply-Chain-Disruption-to-Accelerate-Southeast-Asian-Logistics-Re

MSCI APAC ESGリサーチチームにとって、MSCIの2022年ESGトレンド注目レポートに記載されている以下の3つのトレンドは、APAC地域における大きな潜在的リスクと機会を示しているため、特に力強く、重要なものとして共感を呼びました。 石炭の難題:投資撤退の再考、コーヒー vs. ハンバーガー:生物多様性と食の未来、そして新たな「アマゾン効果」:企業によるネットゼロサプライチェーンの推進。.

このレポートでは、これら 3 つのトレンドをさらに深く探究し、基礎となる ESG 指標を詳しく調査し、最終的に ESG のトレンドセッターと見なされる企業グループを特定します。.

本レポートは https://www.msci.com/www/research-paper/esg-trendsetters-in-apac/03104342240

The Rediscovering Kowloon West outlines upcoming development areas and infrastructure projects in the west of Hong Kong and identifies opportunities for occupiers and investors.

Two mega projects in Lantau Tomorrow Vision and Northern Metropolis are expected to pave the way for different office clusters around Kowloon Station, Cheung Sha Wan and the New Development Areas (NDAs) in the New Territories. As a result, 29% of Grade A office space in the next five-years will be in Kowloon West with total supply expected to increase from 6 million sq. ft. in March 2022 to 9 million sq. ft. 2026.

本レポートは https://www.colliers.com/en-hk/research/colliers-radar-rediscovering-kowloon-west

The Greater Bay Area (GBA) has undergone rapid development in recent years, particularly in infrastructure and transportation network enhancement. Outline Development Plan for GBA issued by the Central government shows the Chinese government’s commitment to improving capital flows throughout the region, which will benefit Hong Kong, specifically the office market.

According to Knight Frank’s in-house data, interviews from landlords, as well as information from tenants and agency practitioners, Biomedical, Family office, TMT and Emerging and high-growth Chinese companies are the four new potential Chinese mainland businesses to come to the Hong Kong market.

In this report, Knight Frank has identified three emerging office hubs in Kowloon that have greater potential to reap the benefits brought by the development of the GBA.

  • Kai Tak Development Node – it is well connected to cities in GBA via the Intercity Through Train;
  • Cheung Sha Wan – Lai Chi Kok – the upcoming notable new office supply in Cheung Sha Wan and Lai Chi Kok area will transform it into one of the largest office hubs in western Kowloon;
  • CBD1.5-XRL Station – given the large scale of development, prestigious location and unique positioning, the West Kowloon Cultural District together with the XRL topside project will become an important up and coming office hub in Hong Kong.

Looking ahead, GBA will continue to gather momentums to develop into a world-class city cluster, and Knight Frank expects leasing demand from Chinese Enterprises to rebound and keep rising upon the reopening of the border.

本レポートは https://www.knightfrank.com/research/report-library/greater-bay-area-development-report-june-2022-9110.aspx

Tenant enquiries and site visits rebounded in May following the further relaxation of COVID-19 controls. Mainland China remained the lone exception.

Demand for traditional space is being negatively impacted by mainland China’s anti-pandemic measures and a rising number of downsizing enquiries. However, India and Australia saw robust new set up and expansion demand.

Pressure for higher incentives remained weak, particularly in Australia. Rents continued to recover, led by cities in India.

Sentiment in most markets improved as the bulk of markets in the region continued to shift away from being tenant-favoured. Mainland China was among the weakest performers.

本レポートは https://apacresearch.cbre.com/en/research-and-reports/Asia-Pacific-Market-Sentiment-Survey—June-2022

クッシュマン・アンド・ウェイクフィールドの2021~2022年アジアREIT市場洞察レポートでは、急成長を遂げているアジアの不動産投資信託市場を調査し、主要市場である中国本土、香港特別行政区、インド、日本、シンガポールにおける主な推進要因と現状を検証しています。.

報告書では、強固な資本構造、十分な財務流動性、支援的な規制政策に支えられ、パンデミックが沈静化するにつれ、REITは全体的に勢いを増し続けており、物流/産業およびデータセンターREITはより伝統的な資産クラスを上回っていることが明らかになっています。.

主なハイライト

  • アジア市場の REIT は、ニューエコノミー資産クラスの支援を受けて、COVID-19 のピーク期を通じて顕著な回復力を示した後、2021 年に力強く回復しました。.
  • アジア市場では、産業および物流 REIT が最も高い回復力を示し、他のすべての資産クラスがプラスのリターンを達成した中、24.7% の総リターンを記録しました。.
  • サプライチェーンの不確実性により、運営者が倉庫スペースの備蓄を蓄積するにつれて需要が生まれています。.
  • 成熟した REIT 市場では、2022 年の残りの期間を通じて M&A 活動が活発になると予想され、一方、発展途上市場では REIT の成長が加速すると予想されます。.

インフレと経済成長の鈍化への懸念が4月も資本市場の低迷を招いた。米国のインフレ率は3月に8.5%と1981年以来の高水準を記録し、当時のポール・ボルカーFRB議長の下で金利が20%近くまで引き上げられた時代を彷彿とさせた。インフレ圧力の高まりでより積極的な利上げの可能性が高まったため、市場は圧迫された。このため、米ドルは20年ぶりの高値付近で月末を迎えた。韓国とシンガポールの金融当局も引き締め策を発表した。韓国の利上げ決定は、ニュージーランドが予想を上回る50ベーシスポイントの利上げを決定した後に行われ、域内の中央銀行の多くがインフレ高騰への対策に重点を移すための予防的発表を行った。最近の新型コロナウイルスによる上海の封鎖も、中国の経済成長見通しと、さらなる世界的サプライチェーンの混乱の可能性に対する懸念につながった。世界経済の見通しに不透明感を抱く状況が続く中、投資家は4月も厳しい状況に耐え抜いた。 MSCIが追跡するアジア太平洋地域の株式のトータルリターンはマイナスに終わった。しかし、同地域の不動産株はボラティリティへの対応がうまくいき、下落幅は縮小し、株式市場全体をアウトパフォームした。.

With the pandemic having led many companies to incorporate increased levels of remote working into their current preferred workplace models to create a hybrid working approach, occupiers must now enhance their workplaces to deliver the type of seamless and engaging experiences that remote working cannot. This is no longer a “nice to have”; it’s a must have!

CBRE believes the creation of places where people work must be founded on understanding the changing nature of work in a hybrid world, what motivates people to come together, and a deep understanding of how to create experiences that really matter.

This report explores these challenges in detail by exploring how companies are planning for a hybrid future, as well as uncovering some of the nuances in approaches that exist between Asian and Western firms.

It also identifies and expands upon the five different types of workplace models identified by CBRE, which consider the fact that office role and design will likely vary according to what proportion of the week employees spend in the office.

本レポートは https://apacresearch.cbre.com/en/research-and-reports/Asia-Pacific-ViewPoint—Future-of-Office—Its-About-People-But-Place-Matters-Too