Colin Galloway

The 2023 ULI Asia Pacific Summit in Singapore brought together a panel of prominent investors to discuss how a fast-changing global macro environment is impacting Asia Pacific’s commercial real estate markets. Panelists noted that current conditions are uncharted territory for an industry conditioned by 40 years of falling interest rates and inflation.
As the real estate industry focuses increasingly on the mantra of carbon efficiency, owners and occupiers are scrambling to find ways to reduce carbon footprints. A recent ULI conference in Hong Kong brought together experts across a range of disciplines to discuss the migration to net zero for both new and retrofitted buildings.
Over the last 18 months, COVID-19 has affected Asia Pacific real estate markets in profound but often quite different ways. For offices, rents in some markets have taken a significant hit, but asset values remain generally resilient as banks continue to extend credit and investors resort increasingly to traditionally safe-haven asset classes. While office sector fundamentals have remained relatively stable, under the surface the pandemic is acting as catalyst for profound change.
In a recent ULI webinar, a panel of experts discussed the dynamics of the Asia Pacific region’s fast-growing market for environmental, social, and governance (ESG) related debt. While the growth of the green finance market regionally still lags that in Europe, the pace of adoption is picking up rapidly.
Reflections on a storied, globe-spanning career—and thoughts on today’s Hong Kong.
Emerging Trends in Real Estate ® Asia Pacific 2019, a real estate forecast jointly published by ULI and PwC, has Melbourne and Singapore as the top cities for investment in the region, followed by Sydney, Tokyo, and Osaka. The report, which is being released at a series of events across Asia over the next several weeks, provides an outlook on Asia Pacific real estate investment and development trends, real estate finance and capital markets, and trends by property sector and metropolitan area.
With rising demand for small cohousing units, developers in Asia embrace the for-rent market.
Seoul’s Bukchon Hanok Village is a 600-year-old traditional settlement located in the southern part of the city that was once home to the aristocratic families of Korea’s Joseon dynasty. Although many of the area’s historic hanok homes have disappeared over the centuries, rebuilding work during the 1930s ensured some 1,200 traditional homes still exist in the area.
Hong Kong’s land supply problem is not attributable to a lack of money, but rather is an issue of finding the physical space for development, as well as a matter of perception, said the chief executive of the Hong Kong SAR, speaking at a ULI event.
A glut of liquidity in local capital markets is making life difficult for domestic and foreign investors alike.
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