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Technology and pharmaceutical firms big players for office space in 2017 /thailand/en-gb/news/545/technology-and-pharmaceutical-firms-big-players-for-office-space-in-2017Technology and pharmaceutical firms big players for office space in 2017 <p>​​</p><p>According to the latest Office Market Sentiment Survey by JLL, a professional services firm specialising in real estate, the outlook for most office markets in Asia Pacific is positive. There is strong demand in Australian cities Melbourne, Sydney as well as in Bangalore and <strong>Bangkok</strong>, especially in their Central Business Districts (CBD). Other cities such as Ho Chi Minh City, Manila and Hong Kong continue to hold steady in terms of rent outlook. Among the top sectors fuelling the demand for office space in 2017 are technology, professional services, pharmaceutical and real estate firms.</p><p> </p><p>"The demand for space in much of the region is being driven by domestic companies seeking to enter or expand into prime CBD as well as growth in sectors such as technology and pharmaceutical," said Jeremy Sheldon, Managing Director, Markets & IPS, JLL Asia Pacific.</p><p> </p><p>It has been reported that 70 per cent of the top 10 technology firms globally have set up their regional headquarters in Singapore, with 57 percent of the offices in the CBD. There is also strong government support for the technology sector in the Lion City, with the launch of the Smart Nation initiative in 2014.</p><p> </p><p>Melbourne is another forerunner. More than half of Australia's top 20 technology companies are located in the city and several high-profile Silicon Valley companies have opened their APAC headquarters there. The state government has also been encouraging the sector through projects such as the Tech Voucher program.  Meanwhile, Vietnam is steadily growing its tech industries –being in the midst of constructing the US$40 million Saigon Silicon City Center.</p><p> </p><p><strong>Bangkok</strong> has seen robust demand from e-commerce, call centre and IT firms for new office space and this trend is expected to continue in 2017.</p><p> </p><p>The pharmaceuticals industry is another to watch. In August 2016, <strong>Thailand</strong>'s Board of Investment approved of a five-year waiver of corporate income tax for phamaceutical firms in a bid to strengthen its position as a medical hub. Over in Manila, the prime One World Place in Bonifacio Global City saw two pharmacetical and medical firms occupying an office space of 1,000 square metre each.  Singapore's One-North will also be the new Asian headquarters for a a phama giant later this year while Mumbai has recently finalised a 15-year lease deal with a healthcare company setting up its research and development centre.</p><p> </p><p>The global pharmaceutical market is expected to be worth US$1.3 trillion in 2018. With Asia outpacing other continents in terms of population growth, this means a bigger market for medical products and solutions which pharmaceutical companies will be eager to capitalize on.</p><p> </p><p><strong>Outlook</strong></p><p> </p><p>Over the next 12 months, JLL expects rents in 13 cities out of the 17 tracked to either remain steady or increase. Demand from high-growth sectors as well as quality developments in new and existing APAC commercial centres are likely to result in a robust rental property market in 2017.</p><p> </p><p><strong>RENTS EXPECTED TO </strong><strong>INCREASE</strong><strong>:</strong></p><p>1.         Auckland</p><p>2.         Melbourne</p><p>3.         Osaka</p><p>4.         Bangalore</p><p>5.         <strong>Bangkok</strong></p><p>6.         Mumbai</p><p>7.         Sydney</p><p>8.         New Delhi</p><p> </p><p><strong>RENTS EXPECTED TO </strong><strong>DECREASE</strong></p><p>9.         Beijing</p><p>10.        Jakarta</p><p>11.        Shanghai</p><p>12.        Singapore</p><p> </p><p><strong>RENTS EXPECTED TO STAY </strong><strong>STABLE</strong></p><p>13.        Ho Chi Minh City</p><p>14.        Hong Kong</p><p>15.        Manila</p><p>16.        Seoul</p><p>17.        Tokyo</p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88
Chinese investment in Thailand’s real estate markets expected to grow/thailand/en-gb/news/547/chinese-investment-in-thailand’s-real-estate-markets-expected-to-growChinese investment in Thailand’s real estate markets expected to grow<p>​<span style="text-align:justify;">I</span><span style="text-align:justify;">nstitutional investors from China have showed keen interest in Thailand's real estate markets in recent years. While real estate investment activity by the Chinese has not been as buoyant as many may expect, these Chinese investors are likely to play a bigger role in the Thai market in the near future, according to JLL, a professional services firm specialising in real estate.</span></p><p style="text-align:justify;"> </p><p style="text-align:justify;"><strong>Mrs. Suphin Mechuchep,</strong> Managing Director of JLL Thailand, says "Chinese corporations have been actively looking for opportunities to invest in a wide range of real estate assets in Bangkok and major resort markets. Nonetheless, despite keen interest, investment activity by the Chinese to-date has remained limited with most of the transactions being joint ventures in property development projects or acquisitions of stakes in Thai property development companies."</p><p style="text-align:justify;"> </p><p style="text-align:justify;">Some of the major Thai-Chinese joint venture property development projects are Baba Beach Club Phang Nga, comprising 16 hotel villas, 104 residential suites and 42 villas by China's Junfa Real Estate Co. Ltd. and Charn Issara Development Plc; The Terminal Phuket, a mixed-use development comprising condominium, hotel and serviced apartments, community mall, office building and clubhouse facility, by Royal Lee Asset from China; and 30-storey condominium project Artemis Sukhumvit 77 by Chinese state-owned firm China Tianchen Engineering Corporation. </p><p style="text-align:justify;"> </p><p style="text-align:justify;">"It is apparent that Chinese investors have strong appetite for investment opportunities in Thailand. A rapidly growing number of enquiries that JLL offices in Thailand and China have received exemplifies the case. However, most of these investors have adopted a cautious approach at this point, needing more time to explore alternative investment options that are available and understand relevant legislations and regulations," Mrs. Suphin. </p><p style="text-align:justify;"> </p><p style="text-align:justify;">"Having said that, as more Chinese investors are getting to understand the investment landscape in Thailand's real estate sectors better, we expect Chinese investment to rise soon," she adds.</p><p style="text-align:justify;"> </p><p style="text-align:justify;"><strong>Mr. Mike Batchelor</strong>, Managing Director for Investment Sales – Asia, JLL's Hotels and Hospitality Group, says "We expect to see more activity from Chinese investors in 2017 as the Chinese have invested heavily in overseas real estate and continued to look for opportunities abroad to diversify their risks. Thailand is considered to be one of the most attractive markets in the region, particularly for hospitality-related investment."</p><p style="text-align:justify;"> </p><p style="text-align:justify;">Mr. Batchelor's view is supported by a separate report by JLL.</p><p style="text-align:justify;"> </p><p style="text-align:justify;">According to JLL's Global Capital Flows report, China hit a record of US$33 billion in overseas commercial and residential property investment in 2016, an increase of nearly 53 percent year-on-year, </p><p style="text-align:justify;"> </p><p style="text-align:justify;">While investment in land, offices and hotels account for 90 percent of all Chinese outbound capital in the last three years, the hotel and industrial sectors showed the largest increase in 2016 due to significant transactions in the U.S. in the form of portfolio sales and Chinese appetite for industrial parks. </p><p style="text-align:justify;"> </p><p style="text-align:justify;">"Hotel activity last year was boosted by the purchase of Strategic Hotels and Resorts by Anbang Insurance for over US$6 billion," says <strong>Mr. David Green-Morgan</strong>, JLL's Global Capital Markets Research Director. "China Life Insurance has secured assets across the hotel and office sectors with portfolio purchases from the Starwood Capital Group and an office tower in Manhattan; sovereign wealth fund Chinese Investment Corporation has been active in the office sector in New York as well," he adds.</p><p style="text-align:justify;"> </p><p style="text-align:justify;">Land acquisitions by Chinese investors made a comeback last year, with a rise of 44 percent following significant transactions in Hong Kong, Australia and Malaysia. </p><p style="text-align:justify;"> </p><p style="text-align:justify;">"We do believe that Chinese investors will continue to be major movers of capital into global real estate for many years to come," says Mr. Green-Morgan. "But a similar increase in 2017 may be challenging given the recent discussion about China monitoring its capital outflows."</p><p> </p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88

 

 

Asia Pacific Property Digest 4Q 2016/asia-pacific/en-gb/research/855/asia-pacific-property-digest-4q-2016Asia Pacific Property Digest 4Q 2016Growth on track as Asia Pacific surges ahead0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045
The Residential Index 4Q 2016/asia-pacific/en-gb/research/856/the-residential-index-4q-2016The Residential Index 4Q 2016Policy measures impact sales activity in several markets0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045

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