Asia Pacific
Insights, trends, and innovation shaping real estate and urban development across the Asia Pacific region’s dynamic markets and cities.
Rooftops designed to facilitate drone deliveries, whole floors in residential blocks dedicated to coworking or community spaces, and mobile supermarkets were among the futuristic concepts discussed at the 2022 ULI Singapore Annual Conference.
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.
Singapore
Curating and creating great spaces is at the heart of what industry players in the built environment sector do every day. Placemaking is the “art and science” of turning the ordinary into the extraordinary.
Technology is paving the way for a segment of investors, many of whom are “digital natives,” to explore real estate as an additional part of their investment portfolio and participate financially in the real estate sector like never before, said panelists speaking at the 2021 ULI Singapore Annual Conference, held both virtually and in person in early March.
The cover package for the 2019 Asia Pacific special issue is titled “Finding Balance: The quest for smart buildings, smart tourism, and smart climate strategies.” Other topics include “South Korea: Heritage at Jeonju Hanok Village,” “ China: Intercontinental Shanghai Wonderland Hotel,” “Thailand: Dealing with Bangkok’s Climate Challenge,"and “Interview: Chairman Nicholas Brooke.” This special issue will be available at the ULI Asia Pacific conference in Shanghai and mailed to ULI members in Asia.
Hong Kong
With the Asia Pacific region comprising 4.3 billion people and many of the world’s biggest cities, the sheer scale of the sustainability challenge there is daunting. However, asset owners are increasingly using more sustainable designs and technologies to boost the performance of their assets.
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.
ULI is excited to announce the launch of Art in Place, a global cohort of the Institute’s National and District Councils working independently and together to connect artists, developers, and community voices. The program is the next step in ULI’s ongoing commitment to creative placemaking focused on the integration of art, culture, and creativity as levers of community revitalization.