Real estate insights and recommendations for occupiers and investors in Asia Pacific based on the previous fortnight’s market events.
Markets in focus this week:
The Xiong’an New Area welcomes key commercial completions in 2022; accelerated release of policy details expected
Announced in 2017, the Xiong’an New Area is a city being developed in North China. After an initial planning period, large scale constructions began in 2019. The new area has two major goals:
- To ease pressure on Beijing by taking over functions not related to the city’s role as a capital city, and
- To promote better coordinated development between Beijing, Tianjin, and Hebei provinces.
As key commercial projects are scheduled to reach completion starting in 2022, we expect the release of policy details to accelerate.
For more insights, reach out to Kevin Yuan.
Tokyo, Japan – Office
Grade A new supply in Tokyo's central five wards will remain healthy in the next five years
New supply of Grade A office buildings in Tokyo's central five wards will remain healthy in the next five years, with most supply coming in Minato Ward and more than 30% from Chuo Ward. Many office buildings scheduled for completion over the next five years are large-scale redevelopment projects or replacements of older office buildings.
For more insights, reach out to Kohei Kawai.
Manila, Philippines – Property Outlook
Philippine property market poised for a rebound in 2022 with rising consumer and business confidence
The Phillipine property market is poised for a rebound in 2022. The improving vaccination rate, complemented by rising consumer and business confidence, should inject a much-needed boost to the sector.
Office developers should continue lining up projects while tenants should look at the viability of opening an office in core locations. Residential developers should anticipate pent-up demand while mall operators should be mindful of Filipinos’ rising propensity to shop online.
For more insights, reach out to Joey Bondoc.
View past editions of our Asia Pacific Talking Points series here.