Asia Pacific’s commercial real estate market transacted more than $34 billion in direct investment in the first quarter of 2021, down less than 1 percent year-on-year. Investments in Japan ($11.5 billion), China ($8.3 billion) and South Korea ($4.3 billion) accounted for over 70 percent, with office space attracted the most capital, followed by logistics, and retail.
In a time where many companies are considering to cutback on work spaces, move out of prime CBD, or downgrade to lower-specification office buildings, tech giants are moving in the opposite direction. Google became the latest company to commit to a space in Lot Fourteen, a hi-tech business park located in Adelaide's CBD, after Amazon announced their move in February.
APAC Commercial Real Estate Investment Steady with Last Year During Q1
Mingtiandi – Asia Pacific’s commercial real estate market recorded more than $34 billion in direct investment in the first quarter of 2021, down less than 1 percent year-on-year. But investment volume fell 23% compared with the fourth quarter of 2020, even as big upturns in Australia and Singapore showed the growing confidence of global investors.
Google Joins Amazon at Adelaide’s $2bn Tech Hub
The Urban Developer – Google is the latest tech giant to sign up for space in Adelaide’s Lot Fourteen which is currently taking shape in the city’s CBD. The development is aimed at hi-tech industries including artificial intelligence, machine learning, cybersecurity, data analytics, computer vision, augmented/virtual reality and the internet of things.
London’s ‘Super-prime’ Luxury Property Market was World Leader in 2020
The Guardian – London had the highest number of super-luxury home purchases of any city in the world during 2020, outperforming its traditional rivals of New York and Hong Kong. Transactions in London rose by 3% in 2020, while in Hong Kong and New York, they fell by 27% and 48% respectively.
Read also: Investing in the UK Real Estate Market
How Science-based Targets are Helping Real Estate Shrink its Carbon Footprint
JLL – With deadlines for international sustainability commitments focussing attention on the need for action, more real estate companies are turning to science-based targets to help mitigate the worst impacts of climate change and future-proof businesses.
Data Centre Demand Driving Up Industrial Land Prices
The Urban Developer – The demand for data centres, sparked by the global pandemic, is driving up industrial land prices in select Australian locations. In 2020, data centre groups acquired about 55-hectare of land for hyper-scale cloud sites. Data centre net absorption doubled in the past year with markets including Tokyo, Sydney, Singapore and Hong Kong reaching 321.6 megawatts.
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