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This quarter, the Knight Frank Data Centre report focuses on the growth markets of Asia Pacific. Market analysis includes Osaka, Melbourne, Jakarta, Manila, Hanoi, Taipei, and Indian cities Hyderabad, New Delhi and Chennai.

The growth trajectory of data centre supply noted in the principal global data centre markets in previous quarters is now being mirrored in secondary cities across the region. Underpinned by strong demand fundamentals and a trend towards greater localisation of data centre facilities, total supply (live, under construction, and committed capacity) in the reported APAC markets has grown from just under 700MW five years ago to over 3,000MW today. For the first three quarters of 2022 alone, around 600MW of new capacity has been added.

Melbourne, Jakarta and Osaka now each have over half a gigawatt of aggregate IT Supply. At 593MW of registered IT supply, Melbourne is seeing renewed interest from local and regional operators such as NextDC, AirTrunk, Vantage and Stack Infrastructure, which will add close to 450MW to existing live supply. Microsoft is also known to be planning a facility here. Jakarta has seen significant announcements and planned capacity, several times the existing supply, from both hyperscale cloud service providers like Amazon and Microsoft, as well as a variety of local and international operators. Osaka continues to develop as an alternative data centre market in Japan complementing the more established Tokyo region.

The major cities of Hyderabad, New Delhi and Chennai are also registering rapid growth, with between 300MW to 400MW of IT capacity each. About two-thirds of this supply was added in the past couple of years, with around 50% of total supply planned or committed capacity. The increased investment in the data centre sector in recent years is party driven by government policy, including easier access to credit and other incentives to boost data centre investment. Active players in the market include local firms such as CtrlS, Sify Technologies, Nxtra by Airtel and Web Werks, joint ventures such as AdaniConnex and BAM Digital Realty, as well as cloud service providers.

In Southeast Asia, Taipei, Manila and Hanoi continue to see growing interest from hyperscale CSPs and data centre investors. AWS announced local zones in both Manila and Hanoi this year and is in the process of rolling them out, while the global firm also launched its local zone in Taipei in October 2022. Current key players in these markets mainly comprise the local telcos, with a handful of regional joint ventures such as STT-Globe in the Philippines and NTT-VNPT in Vietnam.

Overall, the expansion of data centre activity into the growth markets across the APAC region remain on a strong footing, reflecting the continued resilience of demand across each geography.

本报告最初发表于 https://app.dcbyte.com/knight-frank-data-centres-report/Q3-2022/

In this article, we explore an emerging sub-set of infrastructure which is garnering increasing amounts of interest from global private equity and pension funds – Educational Infrastructure or ‘EduInfra’. EduInfra refers to the infrastructure, building and land used to deliver social services like education.

EduInfra is attractive to international annuity investors looking for stabilized yield plays. The sector has an edge over other similar asset classes due to its non-GDP linked and rather recession proof character with significant potential for capital appreciation. It offers a promising 10 – 11% entry cap rate with rental escalations in the region of 3 – 5%. While the market boasts of significant depth, potential has not been unleashed as operators are only slowly moving towards asset light models.  EduInfra’s classification as infrastructure allows for tax optimal exit through InvITs which can also serve as a growth platform attracting institutional investors.

This was originally published in https://resolutpartners.com/2022/11/15/eduinfra-emergence-of-a-new-asset-class/

Office: Macroeconomic headwinds and inflationary pressure weighed on office leasing activity in Q3 2022, pulling down net absorption by 11% q-o-q to 10.1 million sq. ft. NFA. Finance remained the main engine of leasing demand, with activity also seen from tech and co-working platforms. Rents increased by 0.4% q-o-q and 1.1% y-t-d.

Retail: Retail sales growth slowed as global recessionary fears continued to cloud consumer confidence. However, vacancy declined across the region along with the further easing of pandemic-related restrictions. Rents fell 1.8% y-o-y but posted a quarterly gain of 0.3% q-o-q.

Logistics: Leasing activity eased across Asia in Q3 2022, with markets including mainland China, Korea and India recording weaker demand. Leasing volume in the Pacific was weak compared with the same period of last year, owing to a further drop in availability. Rents grew by 1.4% in Q3 2022, a slightly slower rate than in the previous two quarters.

Investment: High interest rates continued to impair investment in major Asia Pacific markets, driving down commercial real estate investment volume by 20% y-o-y to US$27.3 billion. Acquisitions were driven by real estate funds, property companies, REITs, and institutional groups. Cross-border investment fell 1.0% y-o-y to US$8.0 billion.

本报告最初发表于 https://www.cbre.com/insights/figures/asia-pacific-figures-q3-2022

过去五年，电子商务发展迅猛，疫情爆发后更是加速扩张。尽管疫情限制措施解除后，电子商务渗透率已从疫情高峰回落，但世邦魏理仕预计，亚太地区未来的增长速度仍将超过世界其他地区。在世邦魏理仕确定的六大电子商务驱动因素中，亚太地区在三项方面拥有显著优势：城市人口增长、数字钱包普及以及充满活力的电子商务生态系统。.

随着零售业不断向全渠道模式发展，实体店的角色和功能也将随之改变。零售商和业主需要进行自我革新，以应对零售业的变革和全渠道模式的兴起。.

电子商务的蓬勃发展也带动了工业和物流地产的强劲需求，但供应渠道不太可能满足未来的需求。建议物流企业考虑定制开发项目，并投资最新的仓储技术。. 

本报告的主要亮点包括：

• 世邦魏理仕预测，到2026年，亚太地区的电子商务渗透率将增长至35%。然而，不同产品类别的电子商务渗透率会有所不同。.
• 预计到 2026 年，韩国、中国大陆、印度尼西亚、澳大利亚和台湾将成为亚太地区电子商务渗透率最高的五个市场。.
• 虽然实体店仍然至关重要，但全渠道的兴起正促使许多传统的实体零售商考虑新的业态和选址。.
• 未来五年内，将新增1亿至1.3亿平方米的专用土地。
• 亚太地区在线销售的增长需要电子商务物流空间的支持。.

本报告最初发表于 https://www.cbre.com/insights/reports/Asia-Pacific-Report-Omnichannel-Retail-and-its-Impact-on-Asia-Pacific-Real-Estate-October-2022