2023 Asia Pacific Life Sciences Real Estate Trends (CBRE) 24 March 2023
The growth of major life sciences companies has started to normalise after a period of significant growth during the height of the pandemic. Weaker revenue growth and capital funding in the face of slowing global economies is shaping a new competitive landscape for the life sciences sector and the need for companies to rethink their real estate strategy.
This report explores the latest life sciences real estate trends and their impact on real estate strategy. It also examines the latest developments in R&D Laboratory and Office portfolios, as well as investment demand.
Key highlights are below:
- Office Portfolios: Most life sciences firms are seeking to keep costs under control and are therefore unwilling to add to their office portfolios. Workplace transformation and efficiency are a major focus.
- R&D Laboratory Portfolios: As of the end of 2022, there was more than 100 million sq. ft. of R&D laboratory space in Asia Pacific. Solid leasing demand is driving the emergence of new life science hubs.
- Life Sciences Real Estate Investment: Investment demand remains upbeat, with US$18 billion of funds raised for Asia Pacific life sciences real estate in the past five years. However, a shortage of assets for sale meant just US$717 million of direct investment was recorded in 2022.
This report was originally published in https://www.cbre.com/insights/reports/2023-asia-pacific-life-sciences-real-estate-trends
Download the Report
