asia pacific report

"The Beijing Grade A offi ce market will continue to face signifi cant pressurein the medium-to-long term as over 1.3 million sq m of new supply is expected in 2021."

"Neighbourhood and large format centres have continued to perform well and a clear divergence between discretionary and non-discretionary centres has become apparent in both sales and leasing metrics."

"According to Savills data, among the 19 office buildings in the two major business zones, almost 20% by GFA is occupied by various departments of the government."

"Once a significant majority of the population is vaccinated leading to near normalcy, we expect India to remain a preferred global outsourcing destination on account of its large base of technical knowledge and cost-effective talent."

"The pandemic has led to a K-shape economic recovery, further deepening the polarisation in Tokyo’s condo market. Meanwhile, the demographic and lifestyle changes triggered by the pandemic appear to have modestly shifted resident preferences in location and size. This could lead to an emergence of niche markets which some are likely to tap into."

"Greater KL will see the completion of 13 new malls in the next three years,adding at least 8.9 million sq ft to the market – more than half of which is to be completed this year in 2021."

"Open borders will unlock office demand, especially from Mainlandfirms who have become a key driver of office take-up in Central. As PRC firms become more diverse in their business lines, we expect demand to shift more to non-core areas."