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2019 was a record year for commercial real estate, the office market was at an all-time high with positive sentiments from both occupiers and developers. However, the disruption induced by the COVID-19 pandemic brought the rise to a complete standstill.

Post the second wave in 2021, demand for quality spaces began to rise swiftly and steadily, with occupiers taking utmost advantage of tenant-favorable commercial terms. This trend continues to build up in Q2 2022, despite certain challenges.

The 5 Trigger Points of Commercial Real Estate focuses on fundamental aspects that are silently working to strengthen the recovery and sustain the rise of commercial real estate.

本報告原刊登於 https://www.cushmanwakefield.com/en/india/insights/five-trigger-points-for-commercial-real-estate

Responses from real estate investors in Japan were compiled in this survey. The responses include their expected returns, investment outlook, and rental growth. Surveyed firms include asset managers, securitization developers, life insurance, commercial banks and other financial institutions, investment banks, pension funds, and real estate leasing.

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

本報告原刊登於 https://www.cushmanwakefield.com/en/insights/apac-office-of-the-future-revisited

• 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.

本報告原刊登於 https://apacresearch.cbre.com/en/research-and-reports/Asia-Pacific-ViewPoint–Prolonged-Supply-Chain-Disruption-to-Accelerate-Southeast-Asian-Logistics-Re

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.

本報告原刊登於 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.

本報告原刊登於 https://www.knightfrank.com/research/report-library/greater-bay-area-development-report-june-2022-9110.aspx