思想領導

Hong Kong SAR and Singapore are both firmly established as popular locations for multinational corporates to locate their Asia Pacific headquarters.

While the two cities have always enjoyed a competitive rivalry, recent sociopolitical developments and the enactment of anti-pandemic measures, although now abated, have prompted some companies to think about their operational and physical footprint in the region.

This report compares the two markets across seven key factors:

• Influence in Asia Pacific
• Scale of financial industry
• Scale of technology industry
• ESG and green building initiatives
• Talent availability and attraction
• Office rents/price
• Office availability

The report also discusses topical issues such as:

• How the two cities are set up to develop and grow in the post-covid world
• The competitive advantages of the two cities across industries
• Whether real estate pricing and rental gaps are narrowing, and by how much
• How the two cities will evolve over the next decade with reference to government master plans

本報告原刊登於 https://apacresearch.cbre.com/en/research-and-reports/A-Tale-of-Two-Cities-Hong-Kong-SAR-vs-Singapore

Real estate remains a key asset class within investors’ diversified strategies even as the turmoil in global financial markets and the instability across the capital spectrum continue to cause concerns.

That’s backed by some solid fundamentals, particularly in Asia Pacific. One, the region’s market resilience, versus its European and the US counterparts, put niche assets here on top of investors’ radar, and now, the reopening of China comes in as a shot in the arm. Two, the flight to quality – led by climate actions and return to office initiatives, has fuelled tight occupancy and rental growth across key Asia Pacific markets. Three, alternatives powered by the region’s living, logistics and life sciences sectors are luring investors with new opportunities and robust growth potential. There are several other reasons.

The moot point is the impact of rising interest rates on valuations and cap rates across key Asia Pacific markets appears mitigated, as rental growth remains powered by strong demand on the back of tight vacancy. However, it’s vital today for real estate investors to proactively map the next 12 months and ensure a winning action plan to make the most out emerging opportunities in the year ahead.

Read more to find out the 2023 APAC action plan in a smart investor’s diary

The logistics sector in Asia-Pacific has seen increased interest from both investors and occupiers. This report highlights the prevailing trends including the diversification of demand, the continuing undersupply of logistics properties, and the implications for investors.

本報告原刊登於 https://www.knightfrank.com/research/report-library/the-state-of-logistics-asia-pacific-focus-report-2023-2023-10082.aspx

由於亞太地區商業房地產市場融資成本迅速上漲，人們的注意力轉向了大量即將到期的未償高級貸款，這可能導致未來幾年出現資金缺口。.

世邦魏理仕估計，目前亞太地區未償還的優先商業房地產債務為10,000億美元，2023年至2025年間，該地區將出現10,000億美元58億美元的債務融資缺口。.

本文探討了未來幾年亞太地區債務融資缺口背後的因素，包括可能面臨最大缺口的市場和產業，以及對投資者、借款人和貸款人的影響。.

本報告原刊登於 https://www.cbre.com/insights/viewpoints/Asia-Pacific-Viewpoint-Bird-s-Eye-View-on-Asia-Pacific-Commercial-Real-Estate-Debt-Market

• 2022年新加坡入境投資金額達75.85億美元，較2021年的73.33億美元略有成長（年增3.413兆美元）。.
• 亞太地區是最大的資金來源地，2022 年對新加坡的房地產投資金額達 72% 億美元。.
• 2022年新加坡對外投資額達282.84億美元，較2021年創紀錄的477.09億美元回落。儘管有所下降，新加坡仍然是亞太地區最大的對外投資國。.
• 2022 年對外投資金額的成長主要得益於英國投資的增加，英國投資額年增 120%。.

本報告原刊登於 https://www.cbre.com.sg/insights/viewpoints/singapore-viewpoint-investment-in-out-2022

世邦魏理仕最新報告探討了2022年亞太地區資料中心的最新供應、需求和投資數據，並概述了2023年值得關注的關鍵趨勢。.

主要亮點包括：

• 亞太地區一級資料中心市場（大東京地區、雪梨、新加坡和香港特別行政區）的新增供應量從 2021 年創紀錄的 399MW 下降到 2022 年的 263MW。.
• 由於需求強勁，區域資料中心空置率降至 12.4%，而租賃需求仍然強勁，並繼續受到升級需求和超大規模資料中心營運商持續擴張的推動。.
• 世邦魏理仕預計，到 2025 年，將有 765 兆瓦的新資料中心投入使用，約佔規劃總容量的三分之一。.
• 受融資成本快速上漲和經濟衰退擔憂加劇的影響，2022年投資需求疲軟。亞太地區資料中心直接投資額降至14億美元，為2019年以來的最低年度總額。.
• 世邦魏理仕觀察到近幾個月來投資市場出現改善跡象，2023年第一季新增資料中心資金近10億美元。投資需求將越來越集中於優質資產的綠地開發，例如具有更高樓層承重和/或永續性認證的資料中心。.

本報告原刊登於 https://www.cbre.com/insights/reports/Asia-Pacific-Data-Centre-Trends-H2-2022

高緯環球的辦公空間裝修成本指南為全球主要城市的租戶提供了辦公空間裝修成本參考。無論租戶的需求是基礎型、協作型或高級混合型裝修，我們專案與開發服務團隊編制的這些指南都能幫助租戶制定資本規劃和搬遷預算。.

該指南包含一個全面的裝修成本部分，涵蓋家具、專業費用、機電工程、建築工程、視聽/IT 和其他雜項費用，以及恢復和改造費用。.

本指南中提供的預估成本是基於特定假設的市場平均值。特定專案的額外成本可能與預估成本有所不同—我們建議您聘請專案及開發服務專業人員，根據您獨特的施工需求提供精確的成本估算。.

2023年亞太地區指南亮點

大多數公司（如果不是全部的話）都已採用某種形式的混合辦公模式，這通常是為了回應員工對工作場所靈活性的更高期望。同樣，永續發展目標正日益成為常態，促進和推動多元化、公平性和包容性（DE&I）的措施也越來越普遍。科技的角色從未像現在這樣重要──它既是改變的推動者，也是衡量改變影響的手段。.

綜上所述，這些因素意味著辦公空間的裝潢不僅僅是空間的外觀，還包括空間如何為公司的財務、社會和永續發展目標做出貢獻，同時也要體現企業品牌和文化。.

該指南涵蓋亞太地區12個市場中的32個主要門戶城市：

• 打造一流辦公室裝潢的四個關鍵要素：工作場所策略與變革管理、永續性、採購與技術
• 針對後疫情時代勞動需求的不同裝修風格的成本估算
• “「全包式」綜合裝修成本明細，包括家具、機電工程、建築工程、IT設備、視聽設備及其他雜項費用。
• 辦公空間改造和恢復的平均成本

The growth of major life sciences companies has started to normalise after a period of significant growth during the height of the pandemic. Weaker revenue growth and capital funding in the face of slowing global economies is shaping a new competitive landscape for the life sciences sector and the need for companies to rethink their real estate strategy.

This report explores the latest life sciences real estate trends and their impact on real estate strategy. It also examines the latest developments in R&D Laboratory and Office portfolios, as well as investment demand.

Key highlights are below:

• Office Portfolios: Most life sciences firms are seeking to keep costs under control and are therefore unwilling to add to their office portfolios. Workplace transformation and efficiency are a major focus.
• R&D Laboratory Portfolios: As of the end of 2022, there was more than 100 million sq. ft. of R&D laboratory space in Asia Pacific. Solid leasing demand is driving the emergence of new life science hubs.
• Life Sciences Real Estate Investment: Investment demand remains upbeat, with US$18 billion of funds raised for Asia Pacific life sciences real estate in the past five years. However, a shortage of assets for sale meant just US$717 million of direct investment was recorded in 2022.

本報告原刊登於 https://www.cbre.com/insights/reports/2023-asia-pacific-life-sciences-real-estate-trends

Released in December 2022, the Hong Kong Innovation & Technology Development Blueprint maps out the overall direction and key strategies for the city’s I&T development over the next five to 10 years with the objective of making the city more competitive and diversifying its sectors. This research paper provides the first in-depth review of the strategic plan towards developing Hong Kong into a world-leading hub for I&T and how it will bring valuable opportunities to the I&T sector and the city’s future development.

本報告原刊登於 https://www.colliers.com/en-hk/research/hong-kongs-i-and-t-future-and-its-property-implications

The office sector has shifted and while asset owners need to adjust so too do flexible workspace operators, otherwise flexible workspace operators, who were once seen as disruptors to the office market, will themselves be disrupted.

Shifting occupier profiles are leading to white space opportunities. We have seen an uptick in demand for enterprise solutions and turnkey offices. We believe this presents an opportunity for a managed suite product, which is a product yet to become mainstream in many Asia Pacific markets. The question is: who is best placed to deliver this?

Meanwhile, asset owners are aiming to placemake with holistic, integrated, hospitality-led amenity stacks to elevate the occupier experience. Is this an opportunity for a new type of operator?

This is an incredibly exciting time, with occupier trends driving innovation in how the market delivers the workplace of the future. This may be the dawn of Office 2.0; at the very least, it is the dawn of Flex 2.0.

本報告原刊登於 https://www.knightfrank.com/research/report-library/the-flexible-workspace-outlook-report-2023-2023-10012.aspx