Asia Pacific
A focus on technology, diversity, and the impact of the post-COVID world is key for the next generation of ULI Asia Pacific member leaders, said panelists at the ULI Asia Pacific RE Imagineevent. The second day of the virtual conference featured some of the brightest young leaders in real estate in the region, talking about their priorities, ambitions, and recipes for success.
Technology, cybernetics, and the importance of innovation were at the heart of the final day of ULI Asia Pacific’s RE Imaginevirtual conference. Keynote speaker Dr. Catherine Ball spoke about the importance of innovation and using systems-led thinking to build better cities and spaces.
Collaboration and swift, measurable actions are needed to prevent disastrous climate change, attendees heard on the first day of ULI Asia Pacific’s RE Imaginevirtual conference. The event opened with a presentation from climate scientist Professor Benjamin Horton of Nanyang Technological University, who was an author of the Intergovernmental Panel on Climate Change 5th Assessment Report and a review editor for the 6th report, which was published earlier this year.
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.
Hong Kong is famous for its hospitality industry, but the sector has been under fire for the past three years. Even so, the hotel and food and beverage (F&B) industries have shown resilience and adaptability said panelists during a ULI Hong Kong conference in September.
A ULI urban resilience study shows how culture can contribute to the resilience of a city by driving mutual cooperation among residents, supporting the high costs of infrastructure investment, and inspiring private developers to accept and exceed some of the strictest building regulation in the world.
For those fortunate enough to be able to work remotely, “workations” have emerged as a blend of remote work and leisure outside the confines of a home office. A workation in Japan is a remote work arrangement with elements of a retreat, a dose of nature, and perhaps a taste of small-town life mixed in.
In Jakarta, a city of more than 10 million people, housing affordability has become a major issue—one that likely cannot be solved by the public sector alone, said speakers at a ULI Asia Pacific webinar.
Cities in southern and eastern Asia will likely bear the brunt of climate change, said Edward Mazria, founder and CEO of Architecture 2030, during a ULI Asia Pacific forum on environmental, social, and governance (ESG) in May. Mazria has been a leading advocate for the built environment to reduce its carbon emissions in combating global warming.
The aging demographic profile of developed nations means the built environment may need to accommodate the needs of a growing cohort of people living beyond the expected life spans of the 20th century, according to panelists at the 2021 ULI Asia Pacific Summit.
Singapore
Despite the monetary headwinds and continued economic uncertainty around the world, there is a strong belief that the global real estate industry is at a “pivot point,” with improving prospects ahead for renewed investment activity, according to the latest Emerging Trends in Real Estate® Global Outlook 2024 from PwC and the Urban Land Institute.
Six impressive developments from around the world have been selected as winners of the 2023 ULI Global Awards for Excellence. This year’s winners include two from North America, two from Europe, and two from Asia Pacific.
As the world’s population continues to grow, there will be a need for increased urbanization to accommodate more people. The question is how and when should urban planners decide to regenerate, when to expand and when to create new cities, for sustainable growth and development of future cities, since each approach comes with its benefits and its drawbacks.
Hong Kong
Technology and contributions from all stakeholders will be crucial if Asia’s cities are to meet their net zero targets. Earlier this year, a series of three webinars organized by ULI China Mainland covered the efforts and challenges of several cities and organizations around the world to give some focus to the efforts in Beijing, which is one of the cities in ULI’s Net Zero Imperative initiative. The discussions also focused on the Chinese capital as well as Hong Kong and Singapore.
Ensuring inclusion and access to all, embodying Hong Kong’s societal values and global identity, safeguarding Hong Kong’s heritage for future generations, and committing to sustainability are among some of the ideas suggested in a new ULI report on how a Hong Kong harbor development can best serve the local community.
The Hong Kong government’s recent decision to embrace a new tendering process for the sale of a prime parcel of waterfront land adjoining the Central business district marks a welcome departure from longstanding policy. In the past, such tenders were invariably awarded to the highest bidder without regard to the quality of the proposed development. Now, however, use of a “two-envelope” approach to sell the plot, known as Site 3, means that design also becomes part of the equation.