Colliers International Research has just released the Asia Pac Office Market Overview 3Q 2012. The report provides real estate office market trends in Asia Pac region. The office sector in the Asia Pacific region continued to be challenging in 3Q 2012 with a slowing economic growth and the unresolved European debt crisis; market participants are holding positive views on market outlook but confidence is not as strong as the previous quarter. Looking ahead, the prospective trend of office rents in most cities will remain positive in the next 12 months, despite a substantial supply projected to enter the market in individual cities.
In this project, I have covered the trend analysis of different banks and NBFC'S on the basis of different parameters. The total project concludes with buy and sells option for the firms according to the resistance and support level and the price at which they have to trade.
Various factors impacted the Asian economies during 2Q 2013, such as further confirmation
of slower than expected growth in China and increasing worries on the next interest hike
in Asia as the US Federal Reserve signaled they may start scaling back its quantitative
easing policy later this year. Against a backdrop of weakening economic conditions across
the region, individual Asian countries have seen a drop in inflation and are still subject to
various challenges ahead such as the potential risk of liquidity outflow from Asia. With
the economic performance yet to show any sign of acceleration, the region is entering an
era of slower growth.
The economic environment in Asia is expected to remain uncertain as the region continues
to be reactive to the overall global economic conditions. Individual governments are expected
to focus on economic issues and introduce additional stimulus measures to help their
countries emerge from prolonged bouts of deflation. Nevertheless, based on the findings
of Colliers Asia Office Leasing Survey for 2Q 2013, it is anticipated that rents will increase
in the next 12 months but the pace of rental growth will taper off. Investment transaction
volume is likely to consolidate further in the second half of 2013, as risk-averse investors
continue to be cautious, due to concerns that rising interest rates will lead to higher property
yields and reduced property values.
With the slow recovery in the global economy driven by the continued risks emanating from
the Eurozone and the US, GDP growth in a number of Asian economies registered a slower
than expected performance in 1Q 2013. Singapore’s GDP contracted 0.6% year-on-year
(YoY), the first decline over the past three years. China unexpectedly lost its momentum
in 1Q 2013 with growth falling short of the original forecast of 8% to a recorded increase
of 7.7% YoY. This slowdown occurred despite the government’s commitment to massive
infrastructure spending and the sustained growth in private consumption.
Looking ahead, individual governments in the region are expected to introduce additional
stimulus measures to improve the pace of economic growth. In the leasing market, corporate
tenants will remain largely cost-conscious over the near term until there are more concrete
signs of recovery in global demand, perhaps in the latter half of 2013. Given the low interest
rate environment, the overall sales market is expected to remain dominated by cash-rich
occupiers who are motivated to consider buying for long-term own-use.
Highlights:
The metrics for the office market in Q2 2011 remained almost the same as for Q1 2011
A more positive trajectory for the office market could be in store for the future if the political situation is perceived as being more stable.
Around 100,000 sq m of office space is set to hit the CBD market in H2 2011.
Initial strains expected from new supply in 2011 but a limited amount in the next few years will lead to hardening of occupancy and rental rates.
The ASEAN Economic Area comes closer to fruition in 2015 and the service sector can benefit from this.
Greek fiscal problems and contagion from other European countries remain a concern going forward.
Bangkok contains the most office supply for any city in the ASEAN area.
Colliers Vietnam's monthly market report on the Central Business District of Ho Chi Minh City. It covers the Office, Retail, Hotel, and Serviced Apartment markets.
Real Estate Demand & Supply Assessment of Bangalore Residential Market Q1 2013centreformanagement
A summer internship project at Money Matters Pvt. Ltd. by Kartik Kothari and Manali Jain, Semester III PGDBM (Finance) students of Centre for Management
The 2010 Global Services 100 Study is the annual research done by Global Services Media along with neoAdvisory, the globalization and sourcing advisory firm. The study involves an extensive survey that seeks both quantitative and qualitative information from service providers who voluntarily opt to participate. We hope to present much more detailed analysis on these companies, analyze key industry sub-segments, and assess company differentiators and market positioning, to draw a more complete picture of the landscape of the global outsourcing service provider industry.
The objective largely remains the same: to recognize excellence amongst service providers and to help buyers of services choose the right service provider.
This Study identifies the top 100 service providers in ITO and BPO and the top companies across various segments
In this project, I have covered the trend analysis of different banks and NBFC'S on the basis of different parameters. The total project concludes with buy and sells option for the firms according to the resistance and support level and the price at which they have to trade.
Various factors impacted the Asian economies during 2Q 2013, such as further confirmation
of slower than expected growth in China and increasing worries on the next interest hike
in Asia as the US Federal Reserve signaled they may start scaling back its quantitative
easing policy later this year. Against a backdrop of weakening economic conditions across
the region, individual Asian countries have seen a drop in inflation and are still subject to
various challenges ahead such as the potential risk of liquidity outflow from Asia. With
the economic performance yet to show any sign of acceleration, the region is entering an
era of slower growth.
The economic environment in Asia is expected to remain uncertain as the region continues
to be reactive to the overall global economic conditions. Individual governments are expected
to focus on economic issues and introduce additional stimulus measures to help their
countries emerge from prolonged bouts of deflation. Nevertheless, based on the findings
of Colliers Asia Office Leasing Survey for 2Q 2013, it is anticipated that rents will increase
in the next 12 months but the pace of rental growth will taper off. Investment transaction
volume is likely to consolidate further in the second half of 2013, as risk-averse investors
continue to be cautious, due to concerns that rising interest rates will lead to higher property
yields and reduced property values.
With the slow recovery in the global economy driven by the continued risks emanating from
the Eurozone and the US, GDP growth in a number of Asian economies registered a slower
than expected performance in 1Q 2013. Singapore’s GDP contracted 0.6% year-on-year
(YoY), the first decline over the past three years. China unexpectedly lost its momentum
in 1Q 2013 with growth falling short of the original forecast of 8% to a recorded increase
of 7.7% YoY. This slowdown occurred despite the government’s commitment to massive
infrastructure spending and the sustained growth in private consumption.
Looking ahead, individual governments in the region are expected to introduce additional
stimulus measures to improve the pace of economic growth. In the leasing market, corporate
tenants will remain largely cost-conscious over the near term until there are more concrete
signs of recovery in global demand, perhaps in the latter half of 2013. Given the low interest
rate environment, the overall sales market is expected to remain dominated by cash-rich
occupiers who are motivated to consider buying for long-term own-use.
Highlights:
The metrics for the office market in Q2 2011 remained almost the same as for Q1 2011
A more positive trajectory for the office market could be in store for the future if the political situation is perceived as being more stable.
Around 100,000 sq m of office space is set to hit the CBD market in H2 2011.
Initial strains expected from new supply in 2011 but a limited amount in the next few years will lead to hardening of occupancy and rental rates.
The ASEAN Economic Area comes closer to fruition in 2015 and the service sector can benefit from this.
Greek fiscal problems and contagion from other European countries remain a concern going forward.
Bangkok contains the most office supply for any city in the ASEAN area.
Colliers Vietnam's monthly market report on the Central Business District of Ho Chi Minh City. It covers the Office, Retail, Hotel, and Serviced Apartment markets.
Real Estate Demand & Supply Assessment of Bangalore Residential Market Q1 2013centreformanagement
A summer internship project at Money Matters Pvt. Ltd. by Kartik Kothari and Manali Jain, Semester III PGDBM (Finance) students of Centre for Management
The 2010 Global Services 100 Study is the annual research done by Global Services Media along with neoAdvisory, the globalization and sourcing advisory firm. The study involves an extensive survey that seeks both quantitative and qualitative information from service providers who voluntarily opt to participate. We hope to present much more detailed analysis on these companies, analyze key industry sub-segments, and assess company differentiators and market positioning, to draw a more complete picture of the landscape of the global outsourcing service provider industry.
The objective largely remains the same: to recognize excellence amongst service providers and to help buyers of services choose the right service provider.
This Study identifies the top 100 service providers in ITO and BPO and the top companies across various segments
A MOVE TO BETTER QUALITY FOR TENANTS
Summary
• Growing demand from multinationals for better quality offices
• Limited prime locations
• Supply surge in 2016 still yet to be fully absorbed
• Rental pressures due to demand/supply imbalances
• Belt & Road Initiative (BRI) could spur demand in next decade
Colliers radar delhi gurgaon and noida the three aces_june 2018Surabhi Arora, MRICS
The National Capital Region (NCR), is consistently the second largest office market with 20% share of the annual nationwide leasing volume over the past five years. In our opinion, the NCR should retain its dominance in office demand over the next five years. We expect Delhi to see a facelift with redevelopment projects over the coming years. The satellite city Gurugram should remain the preferred city among corporate occupiers against the backdrop of a business-friendly environment, healthy new supply and infrastructure improvements. NOIDA is likely to come out of its image of affordable technology hub and rise as an emerging commercial market. We advise new entrants to choose well- established micromarkets in Delhi and Gurugram while occupiers looking for affordability should start exploring NOIDA for their large requirements and backend operations. In our opinion, investors should keep the momentum upbeat taking cues from the infrastructure initiatives and optimistic business conditions in the region.
The uncertainty regarding the continuity of fiscal incentives is an area of growing concern among various stakeholders in Special Economic Zones (SEZs). Although more than 40.0 million sq ft (3.8 million sq m) of new supply is scheduled for completion before the mandatory deadline of 2020 to qualify for income tax benefits in SEZs, it seems unlikely that all the projects will be completed by then. We advise first-time entrants to pre-commit spaces only in projects that are in advance stages of construction to avoid last-minute delays in starting operations which may lead to disqualification for direct tax benefits. Regardless of optimism among the stakeholders about a further extension of income tax benefits, until this is certain, developers should schedule the completion of construction three to six months in advance
We expect the Indian economy to grow at above 7% over the next three years and recover fully from the adverse repercussions of demonetisation and implementation of Goods and Services Tax (GST). We expect the commercial real estate market to remain on track with sustained demand from occupiers in coming years. Flexibility, collaboration, work-space efficiency, employee retention and cost effectiveness should be the key focus areas of Corporate Real Estate (CRE) heads in 2018. We advise developers to reformulate their workplace designs to cater to the changing dynamics of the workplace environment.
Pallavaram - Thoraipakkam Road (PTR), the 11 km stretch located in the Old Mahabalipuram Road (OMR) Post-Toll market is gearing up to entice numerous multinational companies and small and medium enterprises to Chennai. Being strategically placed and well connected to the key office markets of the OMR and Grand Southern Trunk (GST) Road, this link road is likely to disrupt the linear growth pattern of the OMR. The PTR is now emerging as a strong new growth centre in the OMR district. Over the next three years, we expect 11.5 million sq ft (1.06 million sq m) of office space supply to see completion in Chennai. Of this total, 58% is concentrated along the PTR. We expect that by 2020 the improved infrastructure and new offices with modern amenities should greatly enhance the area’s appeal to prospective tenants. In our opinion, occupiers looking for expansion within Special Economic Zones (SEZs) should take advantage of huge upcoming supply in this corridor. For relocation and consolidation, occupiers can either pre-commit or opt for built-to-suit options in PTR to hedge against future rent rises.
Colliers Radar Report - Impact of Artificial Intelligence on Indian Real EstateSurabhi Arora, MRICS
Artificial intelligence (AI) and automation pose a long-run threat to demand for space. However, they will also support high-value human roles and drive productivity. Together, AI, the Internet of Things and alternative workplace solutions will transform the office. Workplaces of the future will use space more efficiently, have more collaborative space, and be healthier. We recommend that Indian enterprises embrace AI and invest in improving the skills of their staff. Meanwhile, developers should offer diversity and flexibility, and prepare for increasing automation of buildings. High rents and poor infrastructure are greater risks to continued growth in Indian property markets than AI
Colliers radar india coworking space - the new kid on the blockSurabhi Arora, MRICS
India offers a great opportunity for coworking space operators to profit from rising demand for flexible, innovative and collaborative workspace designs. We estimate that more than 1.2 million sq ft were leased by coworking operators in India in 2016, which accounted for 3% of the overall leasing volume. Although it represents only a small share of the total leasing demand, coworking operators are planning to lease 8 to 9 million sq ft by 2020.
We foresee that the concentration of coworking spaces will intensify further in Bengaluru, Mumbai, and Gurugram thanks to the availability of adequate infrastructure and opportunities for start-ups in those cities. We recommend occupiers, especially small and medium enterprises, to consider use of flexible space for their office requirements in order to benefit from an integrated networking environment, greater cost-effectiveness and more innovative workspace design.
With most of the new supply scheduled for
completion in 2018, vacancy in Pune market is likely
to remain tight in the short term. We cannot rule out
the possibility of further increase in rent as the
additional supply infusion may not meet the pent-up
demand of the last few quarters. In our opinion, the
market is likely to remain tilted in property owners'
favour for a while. In our view, developers should
expedite completion of projects under construction
and plan more new projects to profit from the
untapped demand in the market.
We expect tenant favourable conditions to attract
domestic companies and Information Technology
majors to expand operations mainly in the New
Town, Rajarhat and Sector V micromarkets. Rents
are likely to register a 3-5% dip in Sector V and
peripheral areas of New Town and Rajarhat as
property owners are likely to remain flexible on rents
to boost occupancy in their buildings.
Amid surging office demand in this re-established IT
hub, most of the upcoming quality office spaces
have been pre-committed by occupiers, creating a
severe supply shortage. Hyderabad's average office
rent is likely to surge in 2017, as en-bloc
completions are still 12-15 months away. We advise
developers to expedite construction and undertake
new projects to meet the heightened occupier
demand to retain the city's image of an affordable
Information Technology and Information Technology
and enabled services (IT-ITeS) location.
We expect demand to strengthen in coming quarters
driven mainly by technology and banking, financial
services and insurance (BFSI) firms. Amid high rents
and low vacancy, occupiers based in preferred
locations such as Cyber City and Golf Course Road
are evaluating whether to renew their existing leases
or to relocate to inexpensive locations such as Golf
Course Extension Road and along the NH8.
Significant new supply over 2017 should keep rents
in check in prime locations, while high-vacancy
markets such as Golf Course Extension Road may
see downward pressure on rents.
Due to limited availability of quality supply in
preferred micromarkets, peripheral areas of the city
are likely to grow in coming quarters. With
significant new supply scheduled for completion
along Pallavaram-Thoraipakkam Road by 2020, we
expect this corridor to become the next hotspot for
Information Technology and Information Technology
enabled Service (IT-ITeS) occupiers due to its
proximity to Old Mahabalipuram Road (OMR)-Pre
Toll area and Grand Southern Trunk (GST) Road. We
recommend big occupiers looking for large floor
plates in Special Economic Zones (SEZs) to consider
Chennai to benefit from the upcoming SEZ supply in
OMR-Post Toll micromarket.
In Q1 2017, occupiers mainly continued expansion in
southern peripherals. Though we expect occupier
demand to remain upbeat in these locations, the
upcoming new supply is unlikely to meet the rising
demand in coming quarters resulting in upward
pressure on rents. Absorption of pre-committed
spaces coupled with expected demand upsurge is
likely to outpace the upcoming supply pipeline of 8.1
mn sq ft (757,160 sq m) by the year end.
The latest report by Colliers Research titled ‘India Office Property Market Overview Q1 2017’ is now out and ready for download. Notwithstanding the demonetisation of high-value currency notes in November 2016, the economy recovered faster than expected and early projections suggest a growth of 7.1% in the fiscal year ending March 2017. All the key economic indicators suggest that India’s consumption based recovery is on track, and the economy is benefiting from an upswing in demand and output. Although five months on from demonetisation occupiers' markets across India's major cities have seen no discernible adverse impact, we expect demand to firm up driven by the strengthening economy. Gross office take-up in India amounted to 9.3 million sq ft (863,998 sq m) in Q1 2017. The Bengaluru (Bangalore) market maintained its top position across nine cities despite low vacancy and recorded an overwhelming share of 37% in total absorption. Mumbai and Delhi NCR followed with shares of 18% and 17% respectively in total absorption. Chennai, Pune, Hyderabad and Kolkata accounted for 11%, 9%, 6% and 2% respectively in the overall leasing volume.
The latest radar report by Colliers Research titled "Coworking space: The New Kid on the Block" is out and ready for download. India offers a great opportunity for coworking space operators to profit from rising demand for flexible, innovative and collaborative workspace designs. We estimate that more than 1.2 million sq ft was leased by major coworking operators in India in 2016, which accounted for 3% of the overall leasing volume. Although it represents only a small share of the total leasing demand, coworking operators are planning to lease 8 to 9 million sq ft by 2020.
Although rents are likely to remain stable across
most micromarkets, we believe availability of Grade
A buildings at affordable rent will remain a concern
for the next several years. Thus instead of focusing
purely on spatial requirements, companies should
consider taking advantage of flexible office spaces
and formulate a forward-looking workplace strategy.
Tenant appetite for higher quality offices has been
reflected in new leases being executed at abovemarket
rates in select Grade A buildings. We expect
a similar trend in 2017. Due to a dearth of quality
office space in other technology-driven markets like
Pune and Bengaluru, we may see supply-led demand
in coming quarters resulting in increased absorption
volumes.
Leasing remained healthy in 2016 despite the flight
of cost-conscious tenants to Delhi's satellite cities.
Demand continued to be driven by the financial
services and manufacturing companies. We expect
0.3 million sq ft (27,870 sq meters) of Grade A office
supply to be delivered in Q1 2017 mainly in the CBD.
We expect a correction in rents especially in grade B
buildings due to tenants' preference for premium
buildings.
Demand-supply gap is likely to remain a concern in
coming quarters. While a few grade A office
buildings are likely to see completion towards the
end of 2017, we expect upward pressure on rents at
least in H1 2017. Tenants looking for quality assets
should find their options limited this year given that
most of the new supply is likely to enjoy high precommitment
rates from existing occupiers.
Steady decline in headline vacancy rates, increase in rents in CBD and SBD, pushed the occupiers to peripheral areas. In our opinion peripheral markets should continue to gain the occupier preference as most of the new supply is concentrated in this micro markets.
The latest report by Colliers Research titled "India Office Property Market Overview - Trends to watch for in 2017" is now out and ready for download. India recorded 41.6 million sq ft (3.9 million sq metres) of gross office leasing transactions in 2016. With a modest increase of 3.5% over 2015, the data indicates a robust occupier market. Bengaluru (Bangalore) remained on a high growth trajectory and maintained its leading status among the key cities by retaining a 31% share followed by Delhi-NCR, which represented 18% of the total occupier demand. Despite the fact that many forecasters have revised down their 2017 estimates for India’s GDP to 6.8-7.0% due to short-term adverse repercussions of demonetization, we believe the outlook for the office sector remains positive in 2017. In our view, the policy changes that the government is implementing should help improve business confidence in India resulting in robust office leasing demand in coming years. We predict an average annual rental growth of 4.6% in 2017. Firm demand should absorb new supply in technology-driven markets, keeping vacancy low.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
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Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
Serviced Apartment Ho Chi Minh For RentalGVRenting
GVRenting is the leading rental real estate company in Vietnam. We help you to find a serviced apartment for rent in Ho Chi Minh & Saigon. Discover our broad range of rental properties in Vietnam.
For more details https://gvrenting.com/
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Rams Garden Bahcelievler - Istanbul - ListingTurkeyListing Turkey
Implemented by Rams Global in Bahcelievler, the Rams Garden Bahcelievler Apartments includes 796 residences of different types from 2+1 to 5+1.
Next to the project, which will have 33 thousand square meters of green area, there will be 42 thousand 300 square meters of woodland. There will also be a 210-meter-long pond in the landscape of the project. There are 94.5 square meters of green space per flat.
Rams Garden Bahcelievler Apartments, which has 8 times more green space than the average of Istanbul with its 33 thousand square meters of green area located within a total of 75 thousand square meters, offers various housing options from 2+1 to 5+1.RAMS Garden has brought a lifeline to the construction industry.
Rams Global, which has signed projects in many places from Dubai to Phuket and delivered more than 20 thousand residences, is now starting new projects in Istanbul.
Rams Garden Bahcelievler is located 9 minutes from Metroport AVM, 5 minutes from Marmara Forum AVM, 12 minutes from Kazlıçeşme beach, 9 minutes from Yıldız Technical University, 7 minutes from Istinye University, 9 minutes from Ramada Hotel and Medicana Hospital.
https://listingturkey.com/property/rams-garden-bahcelievler-apartments/
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus on Public Safety as Job #1, Engagement, Wealth of HOA, Branding, Communication, Culture, Civic Responsibility
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
2. table of contents
asia pacific office market overview | 3q 2012
Regional Overview 3
Greater China 4-6
Beijing, China.....................................................................................................................................4
Chengdu, China..................................................................................................................................4
Guangzhou, China..............................................................................................................................5
Shanghai, China.................................................................................................................................5
Hong Kong SAR, China......................................................................................................................6
Taipei, Taiwan....................................................................................................................................6
North Asia 7
Seoul, South Korea............................................................................................................................ 7
Tokyo, Japan...................................................................................................................................... 7
Southeast Asia 8-11
Jakarta, Indonesia..............................................................................................................................8
Kuala Lumpur, Malaysia.....................................................................................................................8
Karachi, Pakistan...............................................................................................................................9
Manila, Philippines.............................................................................................................................9
Singapore......................................................................................................................................... 10
Bangkok, Thailand............................................................................................................................ 10
Hanoi, Vietnam.................................................................................................................................. 11
Ho Chi Minh City, Vietnam................................................................................................................ 11
India 12-13
Bengaluru (Bangalore).................................................................................................................... 12
Chennai............................................................................................................................................ 12
Mumbai............................................................................................................................................. 13
New Delhi......................................................................................................................................... 13
Australasia 14-17
Adelaide, Australia........................................................................................................................... 14
Brisbane, Australia.......................................................................................................................... 14
Canberra, Australia.......................................................................................................................... 15
Melbourne, Australia........................................................................................................................ 15
Perth, Australia................................................................................................................................ 16
Sydney, Australia............................................................................................................................. 16
Auckland, New Zealand....................................................................................................................17
Wellington, New Zealand..................................................................................................................17
Prime Office Supply, Rents and Net Take-up 18-19
Trends & Forecasts 20-21
Definition & Terminology 22-23
Contacts 24-25
3. regional overview
Economic Overview
The office sector in the Asia Pacific region continued to be challenging in 3Q 2012 with
a slowing economic growth and the unresolved European debt crisis. Although overall
market sentiment was weakening, it remained positive in 3Q 2012. Following two rounds
of quantitative easing (QE1 and QE2), the US Federal Reserve announced a third round
(QE3) on 13 September 2012. With the US Federal Reserve instigating the third round of
bond purchases, commodity prices have been pushed up and this has spilled over to real
estate costs and pricing.
Based on the findings of Colliers Asia Office Leasing Survey for 3Q 2012, market participants
are holding positive views on market outlook but confidence is not as strong as the previous
quarter.
Leasing Market
The overall level of new office leasing inquiries decreased in 3Q 2012. However vacancy
rates and rentals remained strong throughout the quarter due to the limited supply of office
space. Firms in the IT/communication and Finance industries continued to be the major
source of leasing demand in 3Q 2012.
Most cities in Australia and China continued to exhibit positive rental growth. The average
rent increased 2.3% QoQ during 3Q 2012. Individual markets like Guangzhou, Hanoi, Ho
Chi Minh City, New Delhi and Singapore on the other hand, are expected to face growing
downward pressure for the coming months despite the solid demand for Grade A office
space. The Colliers Asia Office leasing Survey for 3Q 2012 found that most tenants are
seeking expansion however the pace will be less aggressive.
Sales Market
On the sales front, average transacted office prices edged up by 2.1% QoQ. The office market
became more active compared to the first half of 2012. This is mainly due to high quality
projects receiving encouraging sales performance in the last quarter, especially in Auckland,
Sydney, Perth and Brisbane which all saw an increase in sales activities. Institutions and
foreign investors remained active to source quality office developments in prime locations.
Market Outlook
Market sentiment remained positive in 3Q 2012 and market players are holding an optimistic
view on the market outlook. Therefore looking ahead, the prospective trend of office rents in
most cities will remain positive in the next 12 months, despite a substantial supply projected
to enter the market in individual cities.
With the expectation of the low interest rate trend to continue and the Chinese government
to continue stimulate growth, investment in office real estate in the region is expected to
remain strong.
Colliers International | p. 3
4. asia pacific office market overview | 3Q 2012
CHINA
BEIJING OFFICE SUPPLY, TAKE-UP &
Beijing
VACANCY RATE • Supply remained tight in Beijing’s Grade A office property market during 3Q12, with the
1.00 25.0% total stock resting at 5.17 million sq m, due to a lack of new completions for the third
0.80 20.0% consecutive quarter.
• Overall, demand remained strong throughout the quarter. However, due to the limited
Vacancy Rate
15.0%
Million sq m
0.60
0.40 10.0% letting space available on the market, leasing transaction volume continued to decrease.
0.20 5.0%
Net absorption of the Grade A office property market in 3Q12 totalled 1,888 sq m, down
85.6% QoQ and the overall average vacancy rate edged down by 0.04 percentage points
0.00 0.0%
2009 2010 2011 2012 F 2013 F to 3.51%.
Supply Take-up Vacancy Rate
• Rentals continued with its upward trend during this quarter, with the average net effective
rent growing by 7.47% QoQ to RMB325.1 per sq m per month. The expansion of rental
growth, was mostly a result of the epidemic of reduced or even withdrawal of rent free
BEIJING OFFICE CAPITAL AND RENTAL VALUES periods provided by most landlords.
800.00 80,000
• Office investment market activity increased in 3Q 2012. A domestic B2B enterprise
700.00 70,000
600.00 60,000
acquired a 57,000 sq m Grade A office building in the Wangjing area for owner-occupancy.
500.00 50,000 Moreover, a private equity investor acquired four blocks of Grade A office buildings or
Capital Values
Rentals
400.00 40,000 a total of 26,000 sq m for investment purpose.
300.00 30,000
200.00 20,000 major transactions
100.00 10,000
0.00 0 Building Lease (L) / Tenant / Purchaser Area
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
3Q 2013 F
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014 F
Sale (S) (sq ft)
Parkview Green L Roche 71,000
Rentals (RMB / sq m / Month) Capital Values (RMB / sq m)
Gateway Plaza L Nanyang Commercial Bank NCB 48,400
Oriental Plaza L Cheung Kong Graduate School 32,300
of Business
SK Tower L Black & Veatch 16,100
Tengda building L China State Construction 16,100
CHENGDU OFFICE SUPPLY, TAKE-UP &
chengdu
VACANCY RATE • Raffles City, the Grade A office building comprising 74,024 sq m, was introduced in
0.50 50.0%
September, thus boosting the total stock of Grade A office space in Chengdu to 718,922 sq m.
0.40 40.0%
• The average rent decreased 0.38% QoQ to RMB137.28 per sq m per month. The overall
Vacancy Rate
0.30 30.0%
vacancy rate edged 3.75% QoQ, to 24.42% in 3Q 2012.
Million sq m
0.20 20.0%
• The average vacancy rate of the Grade A office buildings remained steady, signifying
0.10 10.0%
the solid demand for Grade A office space.
0.00 0.0%
2009 2010 2011 2012 F 2013 F
• In view of the current supply cycle and the continued slowdown of economic environment,
Supply Take-up Vacancy Rate
the local office market is expected to face growing downward pressure over the coming
months.
CHENGDU OFFICE CAPITAL AND RENTAL VALUES major transactions
225.00 22,500
Building Lease (L) / Tenant / Purchaser Area
200.00 20,000 Sale (S) (sq ft)
175.00 17,500
Western Tower L Ganzi Shangshan Water 12,900
150.00 15,000
Capital Values
125.00 12,500 Aerospace Technology Plaza L Starbucks Coffee 10,800
Rentals
100.00 10,000
75.00 7,500
Square One L Kasikorn Bank of Thailand 7,500
50.00 5,000 Square One L Jintai International Investment 9,700
25.00 2,500
0.00 0 China Overseas International L Chengdu Runfu Properties 12,200
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
3Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014 F
Centre
China Overseas International L Yusen Agriculture 9,900
Rentals (RMB / sq m / Month) Capital Values (RMB / sq m)
Centre
p. 4 | Colliers International
5. asia pacific office market overview | 3Q 2012
CHINA
GUANGZHOU OFFICE SUPPLY, TAKE-UP &
guangzhou
VACANCY RATE • Evergrande Center and Poly V Plaza in Pearl River New City and Lavendome Hui in
2.00 40.0% Pazhou, were launched in 3Q 2012, providing a total of 266,627 sq m new stock. The
total stock of Grade A office grew to 2.80 million sq m. The overall vacancy rate increased
1.50 30.0%
1.6 percentage points to 22.2% in 3Q 2012.
Vacancy Rate
Million sq m
1.00 20.0%
• The average rental recorded RMB157.6 per sq m per month, down 2.3% Q-o-Q, due to
0.50 10.0% the weak demand and large supply. Enterprises from IT/communication, pharmaceuticals
and professional services were the major source of leasing demand in 3Q 2012.
0.00 0.0%
2009 2010 2011 2012 F 2013 F
Supply Take-up Vacancy Rate
• High quality projects such as R&F Yingkai Plaza and Bravo Plaza received encouraging
sales performance. The achievable price of R&F Yingkai Plaza reached about RMB50,000
per sq m in 3Q 2012. The average sales price of Guangzhou Grade A office further edged
up by 1.61% QoQ to RMB32,586 per sq m.
GUANGZHOU OFFICE CAPITAL
AND RENTAL VALUES
36,000
180.00
major transactions
160.00 32,000
28,000
140.00
Building Lease (L) / Tenant / Purchaser Area
120.00 24,000
Sale (S) (sq ft)
Capital Values
100.00 20,000
Rentals
80.00 16,000 International Financial L Alcatel Lucent 16,000
60.00 12,000
40.00 8,000
Center (IFC)
20.00 4,000 China International Center L Guangzhou City Telecom 23,500
0
0.00
Centra Plaza L Qianhai Life Insurance 13,600
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
3Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014 F
Leatop Plaza L Lukadilong Clothes 5,400
Rentals (RMB / sq m / Month) Capital Values (RMB / sq m) R&F Yingkai Plaza S ANGLEE 51,700
SHANGHAI OFFICE SUPPLY, TAKE-UP &
shanghai
VACANCY RATE • Shanghai remained the world's sixth-most competitive financial center in 2012, according
1.20 20.0% to Xinhua-Dow Jones International Financial Centers Development Index released in
August 2012.
0.90 15.0%
• Five new projects were launched in 3Q 2012, adding a total of approximately 330,256
Vacancy Rate
Million sq m
0.60 10.0%
sq m new supply to Shanghai’s Grade A office market.
0.30 5.0%
• Average Grade A office rental rates increased 1.2% QoQ to RMB 8.7 per square meter
0.00
2009 2010 2011 2012 F 2013 F
0.0% per day.
Supply Take-up Vacancy Rate
• In 3Q 2012, the overall vacancy rate increased from the previous quarter’s 6.7 to 9.5%.
Among the six major central business districts, Jing’an recorded the lowest vacancy
rates, at 5.3%. Zhuyuan and Changning posted the highest vacancy rates, at 14.9% and
SHANGHAI OFFICE CAPITAL AND RENTAL VALUES
14.2% respectively.
18.00 72,000
15.00 60,000 major transactions
12.00 48,000
Building Lease (L) / Tenant / Purchaser Area
Capital Values
Rentals
9.00 36,000
Sale (S) (sq ft)
6.00 24,000
International Commerce Center L Adidas 187,300
3.00 12,000
Kerry Parkside L Danone Group 76,400
0.00 0 L'Avenue L 3M 72,000
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
3Q 2013 F
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014 F
Jin Mao Tower L MWE China Law Office 22,900
Rentals (RMB / sq m / Day) Capital Values (RMB / sq m)
CITIC Square L Nike China 16,800
Colliers International | p. 5
6. asia pacific office market overview | 3Q 2012
h o ng ko ng
HONG KONG OFFICE SUPPLY, TAKE-UP &
hong kong
VACANCY RATE • In view of uncertain economic outlook, individual large tenants downsized their premises
4.50 9.0% but still prefer to stay in the same district. The overall net take up fell 80% QoQ to 111,000
4.00 8.0%
3.50 7.0%
sq ft in 3Q 2012, which reflects the slowdown in leasing activity especially in Central/
3.00 6.0% Admiralty.
Vacancy Rate
Million sq ft
2.50 5.0%
2.00 4.0%
• The overall Grade A office rent rebounded in 3Q 2012 after falling for three consecutive
1.50 3.0%
1.00 2.0% months, rising a solid 1.5% QoQ. Meanwhile, the average Grade A office rent in Cetral/
0.50 1.0%
Admiralty showed its first quarterly gain since 3Q 2011, rising 0.8% QoQ in 3Q 2012 to
0.00 0.0%
2009 2010 2011 2012 F 2013 F HK$ 98.8 per sq ft.
Supply Take-up Vacancy Rate
• The outlook for the Hong Kong Grade A office market has been brighten up due to the
positive market sentiment and increased leasing enquires. On the back of scare supply
and positive demand, overall Grade A office rents are projected to climb 4% over the
HONG KONG OFFICE CAPITAL next 12 months.
AND RENTAL VALUES
175.00 35,000 major transactions
150.00 30,000
Building Lease (L) / Tenant / Purchaser Area
125.00 25,000
Sale (S) (sq ft)
Capital Values
100.00 20,000
Rentals
China Resources Building L Regus 10,300
75.00 15,000
50.00 10,000
Grand Century Place Tower 1 L Covidien 12,800
25.00 5,000
Exchange Tower L Parsons Brinckerhoff (Asia) Ltd 12,200
0.00 0
4 floors, Kowloon Commercial S China Shipping Logistics 105,200
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
3Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014 F
Centre Tower B
5 floors, Kowloon Commercial S The Open University of Hong 124,800
Rentals (HK$ / sq ft / Month) Capital Values (HK$ / sq ft)
Centre Tower B Kong
Park Building S Billion Mart Dec Ltd 145,000
ta i wan
TAIPEI OFFICE SUPPLY, TAKE-UP &
Taipei
VACANCY RATE • With a net take-up of Grade A office at 3,111 ping in 3Q 2012, vacancy rate was down
40,000 40.0% 58 basis point to 9.42% - the lowest point since 1Q 2009.
35,000 35.0%
30,000 30.0%
• The total net take up of Hsin-Yi district amounted to 2,160 ping in 3Q 2012. The key
25,000 25.0%
contributor was Shin Kong Bank who leased 2,400 ping in Shin Kong Xin Yi Financial
Vacancy Rate
Ping
20,000 20.0%
15,000 15.0% Building.
10,000 10.0%
5,000 5.0% • Thanks to the net take up of 680 ping at the Pacific Century Tower in West district, the
0
2009 2010 2011 2012 F 2013 F
0.0%
average vacancy in the district decreased 1.45 percentage points to 4.92%.
-5,000 -5.0%
Supply Take-up Vacancy Rate
• The average effective Grade A office rent edged up mildly to NT$ 2,441 per ping per
month in 3Q 2012. The effective rent of Hsin-Yi district was NT$ 2,824 per ping per
month, an increase of 0.32% QoQ. However, MS-TN district fell 0.30% to NT$ 2,247
TAIPEI OFFICE CAPITAL AND RENTAL VALUES per ping per month.
3,500 1,400,000 major transactions
3,000 1,200,000
2,500 1,000,000
Building Lease (L) / Tenant / Purchaser Area
Sale (S) (sq ft)
Capital Values
2,000 800,000
Rentals
1,500 600,000 Prince Financial Building S Cathay Life Insurance Co. 262,000
1,000 400,000 CEC Tun Nan Building L 3M Taiwan Ltd. 113,500
500 200,000 Taipei 101 Tower L Bayer Taiwan Ltd. 69,900
0 0 Shin Kong Xin Yi Financial L Kraton Polymers International 10,700
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
3Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014 F
Building Limited
Rentals (NT$ / Ping / Month) Capital Values (NT$ / Ping)
Cathay Xin-Yi Trading Center L China Construction Bank 10,100
Exchange Square Two L Bates Asia Pacific Taiwan Ltd. 9,200
Taipei 101 Tower L Christian Dior Taiwan Ltd 8,900
p. 6 | Colliers International
7. asia pacific office market overview | 3Q 2012
s o u t h ko r e a
SEOUL OFFICE SUPPLY, TAKE-UP &
seoul
VACANCY RATE • During 3Q 2012, a total of two buildings covering 122,147 sq m came in market including
800,000 16.0% Two IFC in YBD of 78,031 sq m. The launch of State Gwanghwamun Building of 40,972
sq m is delayed to next quarter.
700,000 14.0%
600,000 12.0%
500,000 10.0%
• The average rent increased 8.85% QoQ in 3Q 2012 to KRW 24,103 per sq mper month.
Vacancy Rate
sq m
400,000 8.0%
300,000 6.0% The YBD showed a rental increase of 2.15% due to completion of A+ office building Two
200,000 4.0% IFC.
100,000 2.0%
0
2009 2010 2011 2012 F 2013 F
0.0%
• The overall vacancy rate rose 0.92 percentage points QoQ in 3Q 2012 to 7.88%. Despite
-100,000 -2.0%
Supply Take-up Vacancy Rate
the large new space from Two IFC, the vacancy rate in YBD witnessed marginal increase
of 0.50 percent points QoQ owing to the successful take-up in One IFC.
• The net take-up in 3Q 2012 softened from the previous quarter to 44,956 sq m. Net
SEOUL OFFICE CAPITAL AND RENTAL VALUES take-up increased in the GBD and YBD, but decreased in the CBD.
40,000 8,000,000
35,000 7,000,000
major transactions
30,000 6,000,000
25,000 5,000,000 Building Lease (L) / Tenant / Purchaser Area
Capital Values
Rentals
20,000 4,000,000 Sale (S) (sq ft)
15,000 3,000,000
Rinnai Korea Bldg S Private 186,600
10,000 2,000,000
5,000 1,000,000
CJ E&M Bundang Building S Gongpyung Savings Bank 73,700
0 0 Junghak Building S Vestas Investment Manage- 902,200
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
4Q 2013 F
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
3Q 2013 F
1Q 2014 F
2Q 2014 F
ment
Rentals (Won / sq m / Month) Capital Values (Won / sq m)
Hyundai Group Building S KORAMCO REITS & Trust 564,800
Asia Tower L GS Construction 53,400
Banpo Building L Sanofi Aventis 80,600
IFC L Citrix 29,500
japan
TOKYO OFFICE SUPPLY, TAKE-UP & tokyo
VACANCY RATE • New supply declines after significant completion during the first half of 2012.
240,000 12.0%
200,000 10.0% • Vacancy increase has slowed and may begin to decline modestly in the near term.
160,000 8.0%
• Corporate restructuring continues keeping rents low and vacancy high.
Vacancy Rate
Tsubo
120,000 6.0%
80,000 4.0% • Relocation to higher grade and more efficient space continues.
40,000 2.0%
• Value for money, cost reduction and workplace modernization are key factors.
0 0.0%
2009 2010 2011 2012 F 2013 F
Supply Take-up Vacancy Rate • Some rent stabilization on an individual building basis, but overall market remains weak.
TOKYO OFFICE CAPITAL AND RENTAL VALUES major transactions
50,000 10,000,000 Building Lease (L) / Tenant / Purchaser Area
Sale (S) (sq ft)
40,000 8,000,000
Otemachi Financial City L Morgan Stanley MUFG 248,500
Capital Values
30,000 6,000,000
North Tower Securities
Rentals
20,000 4,000,000 Mita Bellju L Japan Marine United 63,900
10,000 2,000,000
Lunesite Tower L TDK 63,900
Roppongi First Building L Nuclear Regulatory Agency 71,000
0 0
Shinjuku Eastside Square L Citibank Japan 177,500
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
4Q 2013 F
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
3Q 2013 F
1Q 2014 F
2Q 2014 F
Rentals (Yen / Tsubo / Month) Capital Values (Yen / Tsubo)
Colliers International | p. 7
8. asia pacific office market overview | 3Q 2012
i nd o n es i a
JAKARTA OFFICE SUPPLY, TAKE-UP &
jakarta
VACANCY RATE • The authority of Jakarta province issued a new environmental policy. As such, more
500,000 20.0% new buildings in compliance with environmental guidelines can be seen in the future.
400,000 16.0%
• The absorption level is expected to remain high as the rental rates are anticipated to
climb further due to a scarce supply of good quality office space.
Vacancy Rate
300,000 12.0%
sq m
200,000 8.0%
• Up to 3Q 2012, the mining, oil & gas related companies and other business sectors like
100,000 4.0%
consumer goods, agribusiness, insurance and finance related industries continued to
0
2009 2010 2011 2012 F 2013 F
0.0%
expand their business operation.
Supply Take-up Vacancy Rate
• With the increasing office demand from business expansion, competition for office space
can be expected for 2013.
JAKARTA OFFICE CAPITAL AND RENTAL VALUES
270,000 45,000,000
major transactions
240,000 40,000,000
210,000 35,000,000
Building Lease (L) / Tenant / Purchaser Area
180,000 30,000,000 Sale (S) (sq ft)
Capital Values
25,000,000
150,000
The East L Net Mediatama Indonesia 54,800
Rentals
120,000 20,000,000
90,000 15,000,000 Eighty 8 L Prudential 53,800
60,000 10,000,000 Eighty 8 L Huawei 32,300
30,000 5,000,000
Menara 165 L PT. Rajawali Swiber Perkasa 19,400
0 0
Eighty 8 L Regus 14,000
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
3Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014F
Menara 165 L PT. Feni Haltim 13,000
Menara Mulia L Trijaya Pratama Futures 12,900
Rentals (Rupiah / sq m / Month) Capital Values (Rupiah / sq m)
m a l ays i a
KUALA LUMPUR OFFICE SUPPLY, TAKE-UP
kual a lumpur
& VACANCY RATE • New completion in 3Q 2012 include Menara Darulssalam and Menara Binjai and
3.50 35.0%
contributed a total of 564,000 sq ft of net lettable area
3.00 30.0%
2.50 25.0% • Tun Razak Exchange (TRX) was launched in July to promote Malaysia as an international
Vacancy Rate
financial hub and to attract foreign investment. It is estimated to generate a gross
Million sq ft
2.00 20.0%
1.50 15.0%
development value of RM26 billion.
1.00 10.0%
0.50 5.0% • TRX-status companies will be given 10 years income tax exemption, stamp duty exemption,
0.00
2009 2010 2011 2012 F 2013 F
0.0%
industrial building allowance and accelerated capital allowance for TRX Marquee-status
Supply Take-up Vacancy Rate
companies while tax exemption is also available for property developers
• Although the office market was generally subdued, it is noted that tenants have been
taking the opportunity to relocate and / or expand to better quality buildings within city
KUALA LUMPUR OFFICE CAPITAL AND centre.
RENTAL VALUES
12.00 1,200
major transactions
10.00 1,000
8.00 800 Building Lease (L) / Tenant / Purchaser Area
Capital Values
Sale (S) (sq ft)
Rentals
6.00 600
Menara MBF L BostonWeb College of 12,400
4.00 400
2.00 200
Technology & Management
Hampshire Place L Tioman Drilling Co Sdn Bhd 70,800
0.00 0
Menara Prestige L KFH (Malaysia) Berhad 133,100
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
3Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014F
Data sourced from C H Williams Talhar & Wong Sdn Bhd
Rentals (Ringgit / sq ft / Month) Capital Values (Ringgit / sq ft)
p. 8 | Colliers International
9. asia pacific office market overview | 3Q 2012
pa k i stan
KARACHI OFFICE SUPPLY, TAKE-UP &
Karachi
VACANCY RATE • The office market is not expected to revive over the medium term due to the political
1.60 80.0% scenario in the country. As a result, many companies have adopted a cautious approach
1.40 70.0%
in the office market.
1.20 60.0%
1.00 50.0%
• No major office leasing deals were concluded in 3Q 2012. The office sector has been
Vacancy Rate
Million sq ft
0.80 40.0%
0.60 30.0% stable and showed no signs of demand growth.
0.40 20.0%
0.20 10.0% • Asking rent in the recently launched Bahria Complex IV has been reduced by nearly 40%
0.00
2009 2010 2011 2012 F 2013 F
0.0% in order to attract tenants.
Supply Take-up Vacancy Rate
KARACHI OFFICE CAPITAL AND RENTAL VALUES
160 16,000
140 14,000
120 12,000
100 10,000
Capital Values
Rentals
80 8,000
60 6,000
40 4,000
20 2,000
0 0
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
1Q 2013 F
2Q 2012
3Q 2012
4Q 2012 F
2Q 2013 F
3Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014F
Rentals (Rupee/ sq ft / Year) Capital Values (Rupee / sq ft)
ph i l i pp i n es
MANILA OFFICE SUPPLY, TAKE-UP &
manil a
VACANCY RATE • The Grade A office stock in Makati CBD reached 922,944 sq m with Zuellig Building
120,000 12.0%
(57,000 sq m) completed in 3Q 2012. In 2013, Alphaland Makati Tower and V Tower will
100,000 10.0% be completed, thus adding about 61,400 sq m new space to the total stock.
80,000 8.0%
Vacancy Rate
60,000 6.0%
• Amongst the various sub-markets, Makati CBD remains the preferred office location by
sq m
40,000 4.0%
tenants. In 3Q 2012, the overall vacancy rate increased by 4.28% due to the inclusion
20,000 2.0%
of Zuellig Building. However, it is forecast to taper off to 3.2% by late 2012.
0 0.0%
2009 2010 2011 2012 F 2013 F • Average prime rental rate was at P755 per sq m per month in 3Q 2012. It is projected
-2.0%
to increase above P800 per sq m by 2Q 2013 due to the limited supply of office space.
-20,000
Supply Take-up Vacancy Rate
MANILA OFFICE CAPITAL AND RENTAL VALUES major transactions
Building Lease (L) / Tenant / Purchaser Area
1,200 120,000
Sale (S) (sq ft)
1,000 100,000
Aseana One L Seven Tall Trees Events, Inc. 62,400
800 80,000
Q-Plaza L Results Manila 25,800
Capital Values
Rentals
600 60,000
Science Hub 2 L Factset Philippines Inc. 22,900
400 40,000
Net Cube Bonifacio L Shore Solutions Inc. 12,100
200 20,000
0 0
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
1Q 2013 F
4Q 2013 F
2Q 2012
3Q 2012
4Q 2012 F
2Q 2013 F
3Q 2013 F
1Q 2014 F
2Q 2014F
Rentals (Peso / sq m / Month) Capital Values (Peso / sq m)
Colliers International | p. 9
10. asia pacific office market overview | 3Q 2012
s i ngapo r e
SINGAPORE OFFICE SUPPLY, TAKE-UP &
singapore
VACANCY RATE • The rent of Grade A office buildings in the CBD continued to decline under the slowing
2.50 25.0% global economy in 3Q 2012. Nonetheless, the average rent decline slowed for the second
2.00 20.0% consecutive quarter due to an increasing number of foreign companies setting up entities
in Singapore and existing companies relocating to higher quality office space.
Vacancy Rate
1.50 15.0%
Million sq ft
1.00 10.0% • The average occupancy rate of Grade A office in the CBD increased from 92.0% in 2Q
0.50 5.0%
2012 to 93.1% in 3Q 2012, which is the highest level in the last five consecutive quarters.
0.00
2009 2010 2011 2012 F 2013 F
0.0% • Supported by a stronger occupancy rate, the drop in rents slowed marginally to 1.0%
Supply Take-up Vacancy Rate
QoQ in 3Q 2012, from 1.1% QoQ in 2Q 2012. By the end of September 2012, monthly
gross rents for CBD Grade A office space averaged at S$8.37 per sq ft.
• With the long-running Eurozone debt crisis and the risk of an office supply overhang,
SINGAPORE OFFICE CAPITAL AND office rents in the CBD are expected to continue on a downtrend for the rest of 2012.
RENTAL VALUES
30.00 3,000
25.00 2,500
major transactions
20.00 2,000
Capital Values
Building Lease (L) / Tenant / Purchaser Area
Rentals
15.00 1,500
Sale (S) (sq ft)
10.00 1,000
Marina Bay Financial Centre L Goldin 16,000
5.00 500
Tower 3
0.00 0
Marina Bay Financial Centre L Lego 20,000
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
3Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014F
Tower 3
Ocean Financial Centre L Freshfields 8,300
Rentals (Singapore$/ sq ft / Month) Capital Values (Singapore$ / sq ft)
One Raffles Place Tower 2 L Virgin Active 33,000
t ha i l and
bangkok
BANGKOK OFFICE SUPPLY, TAKE-UP &
VACANCY RATE • In 3Q 2012, many international companies have been looking for Grade A office space
120,000 24.0% in the CBD area.
100,000 20.0%
16.0%
• During the last quarter some companies have expanded their office space or have
80,000
relocated to CBD area.
Vacancy Rate
sq m
60,000 12.0%
40,000 8.0%
• The rental rate of Grade A office buildings in the CBD area has increased over the year
20,000 4.0%
due to the limited supply.
0 0.0%
2009 2010 2011 2012 F 2013 F
Supply Take-up Vacancy Rate
major transactions
Building Lease (L) / Tenant / Purchaser Area
BANGKOK OFFICE CAPITAL AND RENTAL VALUES Sale (S) (sq ft)
Ploenchit Center L Bumrungrad Hospital Pcl. 28,000
1,400 140,000
1,200 120,000
Sathorn Square L Ford Sales & Service (Thailand) 43,100
1,000 100,000 Co., Ltd.
Asia Centre L Ipsos Thailand Co., Ltd. 32,100
Capital Values
800 80,000
Rentals
600 60,000
400 40,000
200 20,000
0 0
1Q 2009
2Q 2009
3Q 2009
4Q 2009
1Q 2010
3Q 2013 F
2Q 2010
3Q 2010
4Q 2010
1Q 2011
2Q 2011
3Q 2011
4Q 2011
1Q 2012
2Q 2012
3Q 2012
4Q 2012 F
1Q 2013 F
2Q 2013 F
4Q 2013 F
1Q 2014 F
2Q 2014F
Rentals (Baht/ sq m / Month) Capital Values (Baht / sq m)
p. 10 | Colliers International