CB Richard Ellis performed well in the Asia Pacific region in the fourth quarter of last year, posting a 29 per cent revenue increase year-on-year according to its recently released global earnings report.
“This revenue growth was underpinned by increased activity across most service lines, with particularly strong demand for office leasing services, residential sales and some large valuation transactions,” said Rob Blain, Asia CEO and Chairman of CBRE.
Some of the major transactions completed by CBRE in Asia in the fourth quarter included:
CB Richard Ellis Valuation & Advisory Services team in Greater China was appointed by China Resource Land Limited to conduct valuations for various properties in the PRC for public circular purposes at the Hong Kong Exchange and Clearing Limited. The portfolio, with a total site area of over 37,000,000 sq. ft, will be used for residential, tourism and resort development.
The sale of nine office floors of Overseas Trust Bank Building, with a total gross floor area of approximately 65,000 sq. ft., was completed by the CB Richard Ellis Hong Kong team for HK$470 million (US$60.4 million).
The Beijing office completed a deal for the 20 year lease transaction between Financial Street Holdings and Galeries Lafayette. This deal facilitated the e retail project at Financial Street Xidan Square, Beijing. The property has approximately 538,200 sq. ft. of gross floor area and will be Galeries Lafayette’s largest shop after its Paris flagship.
CBRE was appointed to manage the development of two new-build industrial projects totalling around 500,000 sq ft in Singapore and Southern Malaysia. The project is the largest CBRE has ever taken in South East Asia and is a move into the industrial new-build market.
The Philippines Office Services department secured 10 floors for Hewlett Packard at the World Finance Plaza, McKinley Hill.
The CBRE New Delhi office helped the American F&B Chain set-up its third outlet in the National Capital Region of Delhi measuring 1,600 sq. ft. at Pacific Mall, Subhash Nagar after helping the brand launch two of its most successful outlets in the country at Select Citywalk, Saket and DLF Place, Vasant Kunj.
CB Richard Ellis performed well in the Asia Pacific region in the fourth quarter of last year, posting a 29 per cent revenue increase year-on-year according to its recently released global earnings report. “This revenue growth was underpinned by increased activity across most service lines, with particularly strong demand for office leasing services, residential sales and some large valuation transactions,” said Rob Blain, Asia CEO and Chairman of CBRE. Some of the major transactions completed by CBRE in Asia in the fourth quarter included: CB Richard Ellis Valuation & Advisory Services team in Greater China was appointed by China Resource Land Limited to conduct valuations for various properties in the PRC for public circular purposes at the Hong Kong Exchange and Clearing Limited.
Phuket Property overview
Some observers are concerned that the 2008 global financial crisis may affect the Thai real estate market. Many see similarities between the current US crisis and the 1997 Thai crisis, particularly in the role played by an over-built real estate sector. To properly analyze the 2008 global financial crisis’s impact on the Thai real estate market, we should first look at the current Thai real estate environment. The Thai real estate industry has grown significantly since the 1997 financial crisis. Although speculation is prevalent in some sectors, we have not experienced a 1997 bubble-like boom. Generally, a real estate bubble occurs when property prices rise quickly in a short period, primarily from speculation – resulting in a supply-and-demand imbalance. When property prices are rising faster than the cost of money and banks continue increasing loan-to-value ratios, funding becomes easier – propelling additional speculation.
Thailand is member of the ASEAN (Association of Southeast Asian Nations) trade bloc and has free trade agreements with India and China, two fast-developing economic powerhouses. Consequently, many multinational companies are using the country as a regional base for its operations or a place to station employees who travel around Asia. Foreign investment in Thailand is constantly expanding, supporting the strong economic growth of the country.
Compared to 1997 Real estate companies are able to respond much more quickly to changes
The 2008 Thai real estate market is fairly robust. However, any thorough analysis requires detailed supply and demand studies of each specific area. A thorough analysis will indicate the market risks associated with each location. The Impact of 2008 Global Financial Crisis on Thai Real Estate is invevitable. The 2008 US global financial crisis is impacting global financial and real-sector economies devastatingly. Because Thailand is inextricably linked to the global economy, it will also inevitably experience its ill-effects
Falling consumer confidence : The slowing global economy together with unstable local political and economic environments will result in falling consumer sentiment and confidence in Thailand. Consumers will delay home purchases because they will be unsure of current and future incomes – directly affecting real estate demand. The general public will also begin losing confidence in the financial sectors, although not as severely as in foreign countries. Lower construction costs : The slowing global economy will result in lower construction materials costs as global demand for these materials decreases. Investors and speculators become sellers : Although current investment and speculative demand is still low, it is prevalent in some condominium-markets and tourist- property categories.Speculators expect to generate profits from price appreciation. If prices do not appreciate as expected on Thai Real Estate Market, they become sellers.
Thai Government Launches “Factory Sandbox” Scheme to Protect 3 Million Jobs
The plan will focus on plants which employ at least 500 people and will build confidence among both Thai and foreign investors at a time when supply chains in rival countries are shutting down.
BANGKOK (NNT) – Thailand’s government has launched a pilot “Factory Sandbox” program to test, vaccinate and isolate factory workers, with the aim of limiting COVID-related disruptions to Thailand’s important export-driven manufacturing sector.(more…)
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