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We help you get the best out of industrial and logistics real estate.

​We have Industrial specialists in logistics/warehousing, manufacturing, industrial parks, location advisory and land who can advise you with all aspects of industrial property transactions.

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Increased interest in alternative sectors in Asia Pacific/thailand/en-gb/news/636/increased-interest-in-alternative-sectors-in-asia-pacificIncreased interest in alternative sectors in Asia Pacific<p>​Investors are increasingly turning to alternative real estate sectors to take advantage of their attractive yields and long-term growth prospects in Asia Pacific, says property consultancy firm JLL, in its new report '<a href="https://www.theinvestor.jll/rise-alternative-real-estate/">The Rise of Alternative Real Estate in Asia Pacific</a>'. While major traditional real estate assets include housing estates, condominiums, office buildings, retail centres, industrial/logistics properties and hotels, the report defines alternative sectors as non-traditional real estate assets such as aged care or nursing homes, student housing, education, data centres and laboratories.</p><p> </p><p>"Globally, Asia Pacific's alternative real estate market is still relatively immature compared to Europe and the U.S. but interest is growing as investors continue to seek out new sectors to diversify assets and enhance returns," says Rohit Hemnani, COO and Head of Alternatives, Capital Markets, JLL Asia Pacific. "The way alternatives are structured presents a long-term operating lease, which provides a stable income stream and decreases market volatility."</p><p> </p><p>JLL estimates yields on alternatives such as data centers to range from four to six per cent in Tokyo and Singapore, and six to seven per cent for Sydney. By contrast, those for core assets such as office buildings can generate around 2.5 per cent in Tokyo and 4.5 per cent in Sydney, while shopping malls can command approximately five per cent in Australia and around 2.5 to 3 per cent in Tokyo.</p><p> </p><p>JLL also expects the outlook for alternatives in Asia Pacific to be positive and continue to gain momentum due to broad demographic shifts such as urbanisation, an ageing population, as well as the region's rising household wealth and increasing use of technology. </p><p> </p><p>"Asset classes like education and self-storage will stand to benefit from the growth of the urban population in Asia Pacific, which will account for over 400 million people by 2027. International schools in Asia Pacific are forecast to multiply by three to four times to meet a target of 10 million students over the next 15 years. This will boost the education and student accommodation sectors that are well-positioned to grow in Australia, China, India and Southeast Asia. Rapid adoption of smart phones, cloud computing and the Internet of Things will drive a surge in demand for data centres, bolstered by an additional 560 million internet users over the next decade in the region. Meanwhile, the region's ageing population will rise by an additional 146 million people within the next 10 years, contributing to the expansion of senior housing and nursing homes." Mr. Hemnani explains.</p><p> </p><p><strong>Can alternative assets become the next big thing in Thailand's real estate?</strong></p><p> </p><p style="text-align:justify;">Observations by JLL in Thailand suggest that there are a number of alternative sectors that have strong demand drivers and growth potential. Prime examples are senior housing and wellness centres that could cater to demand from not only Thais but also foreigners. With a rapid pace of growth and an endless demand for data storage, data centres are also becoming an attractive alternative real estate development option. As Bangkok becomes increasingly urbanized and residential unit sizes continue to shrink the need for additional storage space is also likely to grow, opening up opportunities for self-storage development.</p><p style="text-align:justify;"> </p><p>However, despite these strong demand drivers, a number of barriers to entry remain. Whilst different alternative sectors sit across different levels of maturity, the lack of know-how and experience to develop, operate, manage and market assets in a number of these sectors is one of the biggest challenges that Thai developers and investors as well as operators have faced. Having said that, no problem is without a solution when it comes to real estate. In sectors where no local expertise and experience exists, local developers or investors could seek partnership with international specialists that are looking for opportunities to diversify into new emerging markets such as Thailand.<br></p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88
Southeast Asia to benefit from industrial investor dollars/thailand/en-gb/news/635/southeast-asia-to-benefit-from-industrial-investor-dollarsSoutheast Asia to benefit from industrial investor dollars<p>​Bangkok, 15 March 2018 - China has been stealing headlines as the 'market to watch' for industrial and logistics investors for some years, but a number of developing markets are emerging to pique investor interest.</p><p><br></p><p>Top of the list is the booming sub-region of Southeast Asia, where markets like Vietnam and Indonesia stand to benefit from expanded mandates.</p><p><br></p><p>Japan and Australia remain the key core markets for logistics property in Asia Pacific, while China – although not as transparent – has matured rapidly and boasts a substantial stock of modern assets.</p><p><br></p><p>But developers and investors active in these key markets are now seeking growth elsewhere in the region.</p><p><br></p><p>U.S based private equity firm Warburg Pincus recently formed a joint venture with Becamex IDC Corp to develop institutional-grade industrial and logistics properties across Vietnam.</p><p><br></p><p>The shift of manufacturing bases away from markets like China, coupled with the rapid rise of domestic consumption means Vietnam's industrial real estate market is in "the 'early innings' and at an inflection point for outsized growth," said Jeffrey Perlman, Head of Southeast Asia at Warburg Pincus.</p><p><br></p><p>Investors like Warburg Pincus are heading to developing logistics markets because of the yield arbitrage and maturing local economies, according to Michael Fenton, JLL's Head of Industrial in Australia.</p><p><br></p><p>Yields in Japan sit at around four percent for prime stock and just over five percent in Australia. While in the region's developing markets of India, Indonesia and Vietnam, modern logistics facilities leased to international third party logistics companies yield seven to nine percent, according to Fenton.</p><p><br></p><p>Domestic demand and e-commerce are the key drivers for interest in logistics real estate in markets such as India and Indonesia, says Fenton. "The growth of logistics in developing markets is being driven domestically, especially by the needs of e-commerce. India is talked about a lot at the moment; the introduction of a goods and services tax and a formal REIT (Real Estate Investment Trust) market, means the country will have a more transparent real estate system, which will be of more appeal to foreign investors.</p><p><br></p><p>Large logistics developers are expanding their operations in developing economies in response to these shifting demographics and evolving retail.</p><p><br></p><p>Trent Iliffe, Joint Managing Director of LOGOS Property, which is growing in South East Asia and India, explained that: "For LOGOS, entering new markets such as India and Indonesia is driven entirely by our customers – third party logistic firms and retailers – who need modern logistics properties to support their business in those countries."</p><p><br></p><p>All three markets have large populations (India has 1.6 billion people, Indonesia 260 million and Vietnam 93 million) and growing middle classes, which allow operators the scale to build a business and investors more liquidity.</p><p><br></p><p>The main barrier to logistics investing in these countries is the lack of suitable infrastructure, especially in Indonesia and India, where reliable road and power access is not guaranteed. Furthermore, while there are some local developers of logistics space, there is little modern stock. "You have to create the product yourself," says Fenton.</p><p><br></p><p>There are added complexities in developing markets, such as political, execution and liquidity risks, adds Iliffe. Access to land can be difficult, but that is no different than any market, he says. "Furthermore, we have seen these markets mature in the past 12 months, which has made us much more comfortable with future liquidity."</p><p><br></p><p>Those higher risks require higher returns and LOGOS expects a 50 percent return premium based on returns for a comparable project in Australia.</p><p><br></p><p>"Future markets for us are likely to be the Philippines, Thailand and Vietnam, partially driven by their large population, as we support of our customers growth strategies," he says.</p><p><br></p><p>This article is published on <a href="https://www.theinvestor.jll/">https://www.theinvestor.jll/</a><br></p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88

 

 

Asia Pacific Property Digest Q1 2018/asia-pacific/en-gb/research/955/strong-domestic-demand-supports-regional-growthAsia Pacific Property Digest Q1 2018Strong domestic demand supports regional growth0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045
Asia Pacific Property Digest 4Q 2017/asia-pacific/en-gb/research/943/asia-pacific-property-digest-4q-2017Asia Pacific Property Digest 4Q 2017Sustained momentum leads to record-breaking investment volumes0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045

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