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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
Bangkok ranks 28th in JLL’s short-term City Momentum Index 2018/thailand/en-gb/news/632/bangkok-ranks-28th-in-jlls-short-term-city-momentum-index-2018Bangkok ranks 28th in JLL’s short-term City Momentum Index 2018<p>In the 2018 edition of City Momentum Index (CMI) by property consultancy JLL, Bangkok is listed among the global top 30 rankings in terms of short-term socio-economic and commercial real estate momentum. The city ranks 28<sup>th</sup> after Dubai (27<sup>th</sup>) and Singapore (26<sup>th</sup>) and ahead of Seattle (29<sup>th</sup>) and Bucharest (30<sup>th</sup>). </p><p> </p><p>JLL's City Momentum Index (CMI) tracks a broad range of factors to identify cities which possess the attributes for success over the short and long term. The Index covers 131 major established and emerging business hubs across the globe, measuring each city's short-term socio-economic and commercial real estate momentum, together with its 'future-proofing' capacity – the ability to maintain this momentum over the longer term.</p><p> </p><p>Asia Pacific cities dominate the short-term city momentum index, accounting for 25 of the global top 30. In addition, the top three spots in the index are Asian cities including two from India -- Hyderabad (1<sup>st</sup>) and Bangalore (2<sup>nd</sup>), and one of Vietnam's major commercial hubs, Ho Chi Minh City (3<sup>rd</sup>). </p><p> </p><p> <strong>City Momentum Index: Short-Term Momentum Top 30</strong></p><p> </p><table class="ms-rteTable-default" width="100%" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:14.2857%;">1</td><td class="ms-rteTable-default" style="width:14.2857%;">Hyderabad*</td><td class="ms-rteTable-default" style="width:14.2857%;">11</td><td class="ms-rteTable-default" style="width:14.2857%;">Nairobi</td><td class="ms-rteTable-default" style="width:14.2857%;">21</td><td class="ms-rteTable-default" style="width:14.2857%;">Chengdu*</td><td class="ms-rteTable-default" rowspan="10" style="width:14.2857%;"><p> <strong> </strong></p><p> <strong>Short-Term Momentum:</strong></p><p> <strong>Key Ingredients</strong></p><ul><li>Population</li><li>Connectivity</li><li>RE Investment</li><li>Property Prices</li><li>Economic Output</li><li>Corporate Activity</li><li>Construction</li><li>Retail Sales</li></ul></td></tr><tr><td class="ms-rteTable-default">2</td><td class="ms-rteTable-default">Bangalore*</td><td class="ms-rteTable-default">12</td><td class="ms-rteTable-default">Chongqing*</td><td class="ms-rteTable-default">22</td><td class="ms-rteTable-default">Beijing*</td></tr><tr><td class="ms-rteTable-default">3</td><td class="ms-rteTable-default">Ho Chi Minh City*</td><td class="ms-rteTable-default">13</td><td class="ms-rteTable-default">Wuhan*</td><td class="ms-rteTable-default">23</td><td class="ms-rteTable-default">Jakarta*</td></tr><tr><td class="ms-rteTable-default">4</td><td class="ms-rteTable-default">Pune*</td><td class="ms-rteTable-default">14</td><td class="ms-rteTable-default">Chennai*</td><td class="ms-rteTable-default">24</td><td class="ms-rteTable-default">Kuala Lumpur*</td></tr><tr><td class="ms-rteTable-default">5</td><td class="ms-rteTable-default">Kolkata*</td><td class="ms-rteTable-default">15</td><td class="ms-rteTable-default">Shanghai*</td><td class="ms-rteTable-default">25</td><td class="ms-rteTable-default">Lagos</td></tr><tr><td class="ms-rteTable-default">6</td><td class="ms-rteTable-default">Hanoi*</td><td class="ms-rteTable-default">16</td><td class="ms-rteTable-default">Guangzhou*</td><td class="ms-rteTable-default">26</td><td class="ms-rteTable-default">Singapore*</td></tr><tr><td class="ms-rteTable-default">7</td><td class="ms-rteTable-default">Nanjing*</td><td class="ms-rteTable-default">17</td><td class="ms-rteTable-default">Tianjin*</td><td class="ms-rteTable-default">27</td><td class="ms-rteTable-default">Dubai</td></tr><tr><td class="ms-rteTable-default">8</td><td class="ms-rteTable-default">Delhi*</td><td class="ms-rteTable-default">18</td><td class="ms-rteTable-default">Manila*</td><td class="ms-rteTable-default"> <strong>28</strong></td><td class="ms-rteTable-default"> <strong>Bangkok</strong>*</td></tr><tr><td class="ms-rteTable-default">9</td><td class="ms-rteTable-default">Hangzhou*</td><td class="ms-rteTable-default">19</td><td class="ms-rteTable-default">Shenzhen*</td><td class="ms-rteTable-default">29</td><td class="ms-rteTable-default">Seattle</td></tr><tr><td class="ms-rteTable-default">10</td><td class="ms-rteTable-default">Xian*</td><td class="ms-rteTable-default">20</td><td class="ms-rteTable-default">Mumbai*</td><td class="ms-rteTable-default">30</td><td class="ms-rteTable-default">Bucharest</td></tr></tbody></table><p> </p><p> <em>* Asia Pacific cities</em></p><p> <em>Source: JLL's City Momentum Index 2018</em></p><p> </p><p>India maintains its pre-eminence in the short-term momentum rankings as its cities register among the highest rates of demographic and economic growth globally, while also benefitting from government efforts to boost business attractiveness and invest in infrastructure. Vietnam is attracting sizeable volumes of foreign direct investment as its major cities, Ho Chi Minh City and Hanoi, integrate into regional and global supply chains for high-technology manufacturing, helping to spur rapid economic and income growth. </p><p> </p><p>Chinese cities show no sign of diminishing momentum, accounting for 11 of the global top 30. China's 'Powerhouses', which are firmly integrated into global production networks and engines of the national economy – Nanjing (7th) and Hangzhou (9th) – are the top performers, boosted by their shift up the value chain.</p><p> </p><p>According to the report, Southeast Asia's megahubs that are listed among the global 30 rankings including Manila, Jakarta, Kuala Lumpur and <strong>Bangkok</strong> are continuing to drive forward on the back of significant economic momentum. These cities act as regional gateways and have the scale to compete for talent, visitors and innovation.  Offering substantial growth potential, they are key expansion markets for many corporates and are drawing particular interest from Chinese companies as they internationalise. These cities also have some of the highest levels of real estate completions across the globe as they build out the infrastructure to service this demand.</p><p> </p><p>Nonetheless, less cities from Asia Pacific are in the global 'future-proofing' top 30 rankings. These include Tokyo, Seoul, Sydney, Melbourne and Singapore. The report also identifies Singapore as being the only Asia Pacific city that is in the 'sweet spot', scoring in the global top 30 on both measures. The city-state ranks 26th for short-term economic and real estate dynamism and 29th for its effort in future-proofing for longer-term success.</p><p> </p><p> <strong>City Momentum Index: 'Future-Proofing' Global Top 30</strong></p><p> </p><table class="ms-rteTable-default" width="100%" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:14.2857%;">1</td><td class="ms-rteTable-default" style="width:14.2857%;">San Francisco</td><td class="ms-rteTable-default" style="width:14.2857%;">11</td><td class="ms-rteTable-default" style="width:14.2857%;">Chicago</td><td class="ms-rteTable-default" style="width:14.2857%;">21</td><td class="ms-rteTable-default" style="width:14.2857%;">Washington DC</td><td class="ms-rteTable-default" rowspan="10" style="width:14.2857%;"> <p> <strong> </strong></p><p> <strong>Future-Proofing:</strong></p><p> <strong>Key Ingredients</strong></p><ul><li>Technology Firms</li><li>Education</li><li>Environment</li><li>Transparency</li><li>Infrastructure</li><li>International Patents</li></ul></td></tr><tr><td class="ms-rteTable-default">2</td><td class="ms-rteTable-default">Silicon Valley</td><td class="ms-rteTable-default">12</td><td class="ms-rteTable-default">Seattle</td><td class="ms-rteTable-default">22</td><td class="ms-rteTable-default">Copenhagen</td></tr><tr><td class="ms-rteTable-default">3</td><td class="ms-rteTable-default">New York</td><td class="ms-rteTable-default">13</td><td class="ms-rteTable-default">Tokyo*</td><td class="ms-rteTable-default">23</td><td class="ms-rteTable-default">Stockholm</td></tr><tr><td class="ms-rteTable-default">4</td><td class="ms-rteTable-default">London</td><td class="ms-rteTable-default">14</td><td class="ms-rteTable-default">Sydney*</td><td class="ms-rteTable-default">24</td><td class="ms-rteTable-default">Edinburgh</td></tr><tr><td class="ms-rteTable-default">5</td><td class="ms-rteTable-default">Boston</td><td class="ms-rteTable-default">15</td><td class="ms-rteTable-default">Munich</td><td class="ms-rteTable-default">25</td><td class="ms-rteTable-default">Philadelphia</td></tr><tr><td class="ms-rteTable-default">6</td><td class="ms-rteTable-default">Los Angeles</td><td class="ms-rteTable-default">16</td><td class="ms-rteTable-default">Berlin</td><td class="ms-rteTable-default">26</td><td class="ms-rteTable-default">Montreal</td></tr><tr><td class="ms-rteTable-default">7</td><td class="ms-rteTable-default">Paris</td><td class="ms-rteTable-default">17</td><td class="ms-rteTable-default">Melbourne*</td><td class="ms-rteTable-default">27</td><td class="ms-rteTable-default">Helsinki</td></tr><tr><td class="ms-rteTable-default">8</td><td class="ms-rteTable-default">Amsterdam</td><td class="ms-rteTable-default">18</td><td class="ms-rteTable-default">Austin</td><td class="ms-rteTable-default">28</td><td class="ms-rteTable-default">Seoul*</td></tr><tr><td class="ms-rteTable-default">9</td><td class="ms-rteTable-default">Toronto</td><td class="ms-rteTable-default">19</td><td class="ms-rteTable-default">Vancouver</td><td class="ms-rteTable-default">29</td><td class="ms-rteTable-default">Singapore*</td></tr><tr><td class="ms-rteTable-default">10</td><td class="ms-rteTable-default">San Diego</td><td class="ms-rteTable-default">20</td><td class="ms-rteTable-default">Denver</td><td class="ms-rteTable-default">30</td><td class="ms-rteTable-default">Zurich</td></tr></tbody></table><p> <em> </em></p><p> <em>* Asia Pacific cities</em></p><p> <em>Source: JLL's City Momentum Index 2018</em></p><p> </p><p> </p><p>"Asia Pacific's cities continue to experience phenomenal rates of change as they serve expanding domestic economies and act as gateways to the world's fastest-growing region for global investment and trade. Robust growth is contributing to real estate market momentum across the region, with significant levels of construction as modern stock is built to meet demand and record levels of commercial real estate investment in 2017," says Jeremy Kelly, Director, Global Research, JLL. </p><p> </p><p>"However, rapid growth can also lead to issues such as strains on infrastructure, affordability constraints and environmental degradation. In order to maintain their growth over the longer term, Asia Pacific's cities will need to focus on future-proofing their markets through improved liveability and affordability, regulatory transparency and physical and technological infrastructure," he says.</p><p> </p><p>"For investors, there is an imperative to know which cities will be able to gain from technological transformation for long-term value preservation and growth. Developers can contribute to city success by understanding city strategies and their capacity for supporting the move towards new types of economic activity, enabling them to produce transformational projects that facilitate creativity, innovation and the sustainable communities that businesses and workers are now demanding."</p><p> </p><p> <strong>About the City Momentum Index</strong></p><p> </p><p>JLL's Global Research combined a total of 46 variables to assess short-term momentum and longer-term future-proofing attributes. New indicators in the CMI 2018 include the number of technology 'unicorns' created in each city and the quality of public transport infrastructure.</p><p> </p><p>Both indices cover 131 major established and emerging business hubs across the globe. The short-term component of the CMI incorporates forecasts over a 3-year (2018-2020) horizon. The future-proofing index focuses on elements which are expected to impact a city's competitiveness over a long-term (10 year) time-frame.</p><p> </p><p>For more details on the CMI 2018, click <a href="http://www.jll.com/_layouts/15/FIXUPREDIRECT.ASPX?WebId=2c1c167f-d7d5-4fa4-9a10-c81e8534a187&TermSetId=666b5bd7-72ba-4fd4-9d3a-8b8baf05722e&TermId=35c52f86-f333-420e-95a7-4e4e4a41b54d&UrlSuffix=203/jll-city-momentum-index-2018">here</a>.</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
The Retail Index 1Q 2018/asia-pacific/en-gb/research/953/the-retail-index-1q-2018The Retail Index 1Q 2018“New retail” concepts expanding in China0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045

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