Stronger demand for green and premium space
- Focus on ESG-related compliance expected to lead Hong Kong market trends for 2022
- Tenants to favor premium and green office space
- Growing demand for automated warehouses, health centers, collaborative workspaces with enhanced virtual interactive tools
HONG KONG SAR –
Media OutReach – 16 March 2022 – Global real estate services firm Cushman & Wakefield announced its
Hong Kong Market Direction 2022 report today. Responding to real estate industry stakeholders’ rethinking of strategies for 2022, the new report highlights six emerging factors expected to be key to the future direction of the commercial real estate market in Hong Kong in the Year of The Tiger. A renewed focus on ESG-related compliance is identified as the leading trend for the year, with elevated climate-related risk requirements for fund managers now in play. Additional trends determined for the year center on an anticipated revival for premium office properties, developer land acquisitions around the Northern Metropolis initiative, greater automation in the logistics industry, new expansion in the health and wellness sector, and growing demand for enhanced virtual communications and collaborative workspaces.
“The Year of the Tiger is set to bring about a significant transformation in Hong Kong’s commercial real estate market. The emergence of a fifth wave of COVID-19, together with continued strict border controls, has seen investors and corporations looking to adopt new strategies to manage the new normal in commercial real estate business operations. In response, Cushman & Wakefield has worked to identify the key trends we see emerging in the Hong Kong market in 2022. Firstly, we forecast that ESG objectives and greener real estate practices will be more influential than ever, especially as we have already witnessed government-backed SFC regulations to actively engage fund managers to implement climate risks. And, linked to the focus on ESG, multinational firms will be further incentivized to seek green and wellness-certified office buildings, with premium properties then likely to spearhead the gradual office sector recovery,” commented
John Siu, Managing Director, Hong Kong, Cushman and Wakefield. “We also expect developers and investors to actively look for land development opportunities, particularly under the auspices of the Northern Metropolis initiative. In the industrial sector, we see accelerated automation, with greater numbers of logistics companies progressively utilizing robotics and automation in their day-to-day operations. In retail, rising awareness in Hong Kong of health and wellness factors, and greater interest in healthier lifestyles, will spur expansion in gyms, fitness centers and related businesses, sometimes operating with 24/7 service models. Finally, in the light of continued social distancing and workforce preferences, we expect occupiers to upgrade virtual interaction tools, feeding demand for enhanced virtual communications and collaborative workspaces,” added
Keith Chan, Head of Research, Hong Kong, Cushman and Wakefield. To request the
Hong Kong Market Direction 2022 report, please
click here.
Please download the image
here.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. Across Greater China, 22 offices are servicing the local market. The company won four of the top awards in the Euromoney Survey 2017, 2018 and 2020 in the categories of Overall, Agency Letting/Sales, Valuation and Research in China. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
#Cushman&Wakefield
The issuer is solely responsible for the content of this announcement.
Services
Stakeholder mapping, analysis, engagement and communication needs to be detailed to avoid business losses or even worse, a crisis. How can you do this effectively to prevent failure? ...
Data-driven business decisions have never been as crucial, especially in this era. MGBF leverages off, technology, experience and market presence to aid businesses in making accurate decisions. ...
MGBF provides comprehensive strategic advice and results-focused solutions to solve clients' problems in business-government relations so they can focus on their core business. ...
A critical business challenge is meeting the right decision-makers and potential buyers through the best channel and platform. How will you improve your business competency? ...
Upcoming Events
In this episode of 'A Working Lunch with Nordin', MGBF's Nordin Abdullah and regional commentator Eddin Khoo will discuss the biggest threats and opportunities for businesses as we look to manage change in the South China Sea.
This MGBF Roundtable will feature thought leaders form Japan, Australia, Singapore and Malaysia dealing with the critical issues of manipulation of public listed companies and government and their financial impacts.
A series of networking sessions with various business associations and trade organisations exploring high-value opportunities for business leaders and entrepreneurs looking to build the relationships that matter.
This integrated event will include a forum, dedicated business matching, site visits, a gala dinner and a round of golf. Aptly themed, the focus will be on regional food security issues and trends in the context of the supply chain, agriculture technology and trade regulations and policies.
MGBF In The News
Planet QEOS and China Machinery Engineering Corporation (CMEC) are interested in investing RM10 billion to co-develop advanced Megawatt peak (MWp) agrovoltaic in Baram, to further boost Sarawak’s green energy initiative and food security. Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg was briefed on Friday by both the […]
Last week SPM results came out, 373,974 aspirants who have been waiting patiently over the last few months would now know their fate. Some 10,109 have received all A’s, the golden standard of academic success and the ticket to those looking to study the “more advanced” subjects in university. Proudly, […]
The classic knee-jerk reaction is to say, fire the coach, change the leadership of associations, and reduce the funding till they start performing better. This kind of negative reinforcement may work for kindergarten children, but we are dealing with high-performance adults – individuals much further along in their psychological and […]
Since its earliest tea plantations in 1929, Cameron Highlands has grown to become a key player in the agricultural landscape of Malaysia, producing 40 per cent of all vegetables grown. Despite Malaysia shifting its economic focus away from agriculture, the industry remains imperative for food security and the livelihoods of […]
Although at first glance the travel industry and the agricultural sector appear to have nothing in common, they actually share more than meets the eye. The economic benefits of tourism to the agricultural sector can be multiplied several times over. “Tourism brings the end consumers closer to the source, which […]
The Malaysia Global Business Forum (MGBF) recently held a high-level roundtable themed ‘Designing the Future of the Digital Economy’, attended by industry leaders and business associations. The guest of honour was Yang Berhormat Syerleena Abdul Rashid, the Member of Parliament (MP) for Bukit Bendera in Penang. The MP’s Special Session […]
The Malaysia Global Business Forum (MGBF) will be hosting a roundtable on ‘Designing the Future of the Digital Economy’ on 23 February 2023. It is the culmination of the first three MGBF Exclusive Roundtable Series titled ‘The Evolving Threat Matrix in the Digital Economy’ held throughout 2022. According to the […]
The Founding Chairman of the Malaysia Global Business Forum (MGBF), Nordin Abdullah, today spoke on Bernama TV’s leading English talk show, The Brief, hosted by Jessy Chahal, on the topic of a stable political reality and what that means for the Malaysian economy. Nordin said, “The first thing that it […]
More than 1,100 years ago, Muhammad ibn Musa al-Khwarizmi was developing the mathematical formulas that we know today as algorithms which now have become so intertwined with the business fortunes of global media giants and the very fabric of geopolitics. A series of recent high level international reports have revealed […]
KSK Land has been recognised by the Malaysia Global Business Forum (MGBF) for its role in attracting high net-worth individuals to Malaysia post-pandemic. The first challenge in investor attraction is “selling” the country. In the context of Asia, Malaysia is competing with some very established investment destinations. The second […]
Malaysia, in particular Kuala Lumpur, continues to position itself as a regional centre to do business, educate a family and enjoy a global lifestyle. One company, KSK Land, has taken the lead in positioning itself and the city of Kuala Lumpur as a property investment destination for the global citizen […]
The upcoming budget represents an opportunity to build resilience in the critical sectors that will form the backbone of the country’s future-facing economic ambitions. This however needs to be achieved in the context of managing the community sectors most impacted by COVID-19 over the past two years. The Keluarga Malaysia (Malaysian Family) […]
Malaysia Global Business Forum (MGBF) has moved to support the creative economy as the overall economy moves into a recovery phase following the COVID19 pandemic. As a step in the direction of normalcy, the MGBF has agreed to host the art exhibition “I Know You’re Somewhere So Far” by one […]
Congratulations to Datuk Seri Ismail Sabri Yaakob for taking up the mantle of the ninth prime minister of Malaysia. There is nothing normal about the situation; it could not have been scripted but it has kept the spectrum of media, mainstream and social, gripped. The first order of business for […]
In a stirring speech to the nation, President Joseph R. Biden, Jr. stamped his brand of leadership on the presidency, in his first act as the 46th president of the United State of America, it signaled several shifts. Perhaps the weather was foreboding with snow falling before the ceremony that […]
KUALA LUMPUR, 6 July 2022 – As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. […]
KUALA LUMPUR, 23 June 2022 — Malaysia Global Business Forum (MGBF) ties up with scoutAsia to ensure that businesses are equipped with deeper regional insights. The past two years has seen a massive shift in the way businesses are conducted with digitisation, digitalisation and automation continuously being adopted to improve […]
KUALA LUMPUR, 25 May 2022 – The Malaysia Global Business Forum (MGBF)’s exclusive roundtable on ‘Security Concerns in Critical Value Chains’ was held in a hybrid setting yesterday at the Eastin Hotel Kuala Lumpur. The guest of honour was Yang Berbahagia Tan Sri Dato’ Seri Rafidah Aziz, former minister of […]
We live in the age of crisis. At the heart of any crisis is the threat of rapid change. Change too deep or too wide that the current coping mechanisms for an individual, corporation or government are unable to remain resilient. An unwelcome paradigm shift, like the proverbial spider, that […]