Connect with us on
Connect with us on
Business sentiment firmed amidst Singapore’s solid economic growth of 4.4% y-o-y in 1Q2018. The finance & insurance sector expanded by 9.1% y-o-y, while the information & communications sector grew by 5.7% y-o-y. Office-using employment increased by 7,100 workers in 1Q2018. Private economists now expect 2018 GDP growth to exceed 3%.
Download the Report Read MorePRC co-working operators continue to move into the Hong Kong office market.
Office
Leasing activity in the overal market picked up in May, with net absorption int the overall market amounting to 153,400 sq ft. Demand was mainly focused on new and upcoming Grade A offices, accounting for about 48% of all new lettings, in terms of floor area. At One Hennessy, a new Grade A office being built in Wanchai, Shanghai Pudong Development Bank reportedly leased eight floors (85,400 sq ft) for their first centre in Hong Kong, KR Space is also reportedly negotiating additional locations around the city.
Download the Report Read More
Office take-up in Southeast Asia accelerated over the last five quarters. In 1Q18 office take-up in the region grew by 6.8% year-on-year (yoy). Office demand is well correlated to Gross Domestic Product (GDP) growth in Southeast Asia and is expected to grow by 6% annually in 2018-2021.
Office demand was the strongest in...
Download the Report Read MorePrivate equity (PE) deal value skyrocketed in 1Q18 as it marked the completion of one of the largest secondary transactions in the region thus far, Global Logistic Properties (GLP) for US$12b, along with the sale of Equis Energy for US$5b. Dry powder committed to Asia-Pacific continued its upward run, reaching a record level of US$313b by the end of 1Q18.
PE and venture capital (VC) investment value in 1Q18 increased manifold, with 19 deals being completed, valued at US$21.9b in comparison to 26 deals worth far lower at US$687m in 1Q17. Exit value too went up substantially from US$295m in 1Q17 to US$17.7b in 1Q18, mainly because the two largest buyouts completed in 1Q18 were secondary transactions.
Download the Report Read MoreNorth Sydney now has two Premium grade office developments under construction. The first, 100 Mount Street (41,000 sqm), is due in early 2019, while 1 Denison Street (60,000 sqm) is due in late 2020. Both will benefit from the opening of the Victoria Cross metro station in 2024, above which Transport for NSW is currently seeking concept approval for a 168m, 60,000 sqm office building.
Download the Report Read More
