CBRE Hong Kong hosted the annual flagship event, CBRE Forum, on May 30, 2019 at Rosewood Hong Kong.
Themed “Resilience”, the event was attended by more than 260 industry experts to explore new ways to build resilience for a sustainable future in the commercial real estate market.
At the event, perspectives were provided from occupiers, developers and investors on the latest developments in the real estate industry. In addition to an exclusive interview with an industry luminary and a keynote speech by a property technology guru, CBRE experts shared the latest market trends and moderated three panels on the best investment approaches, talent acquisition strategies and the potential in the Greater Bay Area.
As we have entered the late investment cycle, Dr. Henry Chin, Head of Research, CBRE APAC/EMEA, advised investors to be prudent in light of financial market volatility and ongoing trade tensions in his keynote session. He suggested that property investors should focus less on cyclical but more on structural opportunities and increase exposure on niche sectors such as data centers and co-living. He also restated that now was the opportune time for investors to capitalize on the development of the Greater Bay Area given the launches of new policies and infrastructures that will fuel the demand for the real estate market in the Southern China economic powerhouse.
Sustainable building was one of the highlights of the investors’ panel discussion. Senior representatives from real estate developers and investment companies put strong emphasis on putting green elements and sustainability features into new buildings as well as their conversion projects, to meet the ESG standards, the expectations of tenants especially millennials as a way to attract and retain. Green certified buildings, albeit they are typically newer, generate significantly higher yields than non-certified buildings.
In the occupier session focusing on winning the hearts and minds of talent, leaders from real estate, design house and communications agency unanimously agreed that creating an engaging workplace environment motivates positive behavior change, enhances a sense of employee’s belonging and encourages human interaction, and that a well-presented workplace not only represents a company’s culture and values but also has an underlining power to influence client’s buying decision based on the overall look and feel of the company.
During a real-time polling session, 76% of the audience voted the Greater Bay Area (GBA) as a real opportunity, echoed by leading property groups and investment trusts underlined by connectivity of capital between China and Hong Kong, mobility of young talent and robust transportation infrastructures. When it comes to investing in the GBA, liquidity, legal support and taxation were mentioned as some of the challenges when executing deals, and that the majority of assets in Southern China are owned by individuals as opposed to institutions, adding another level of complexity in terms of closing a deal.
Tom Gaffney, Regional Managing Director, CBRE Greater Bay Area and Hong Kong, said, “We are honored to be joined by top-notch real estate professionals from across Hong Kong and the region for the CBRE Forum. This year, the real estate market is underscored by both macroeconomic uncertainties and unprecedented opportunities such as the Greater Bay Area. While solid real estate fundamentals in Hong Kong and across the region are encouraging, businesses and individuals should enhance the resilience of their real estate portfolio to ensure a sustainable strategy.”
As part of the CBRE Forum Series, the CBRE Forum Hong Kong is one of the eight events running across Asia Pacific this year. It is an important industry forum that is well sought-after by real estate professionals in the region.
Source: CBRE
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