Hong Kong, Singapore, and Japan are expected to recover swiftly from pandemic shocks over the next three years, according to ULI Real Estate Economic Forecast for the Asia Pacific region covering 2021 to 2023.

The growing glut of undeployed capital is expected to provide a lifeline to the strong revival of the Asia Pacific region’s real estate markets, according to the Emerging Trends in Real Estate ^® Asia Pacific 2022report, with Tokyo overtaking Singapore as the top-ranked investment prospect.

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.