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535 Asia Pacific-based investors participated in the survey, which asked respondents a range of questions regarding their buying appetite and preferred real estate strategies, sectors and markets for 2022. Investment sentiment towards Asia Pacific commercial real estate remains positive. A key finding is that investors continue to regard the incorporation of ESG criteria into investment strategies as critical to fulfilling regulatory requirements, preserving future asset value, protecting the environment and enhancing brand image. As a result, ESG criteria continue to gain traction among investors. Approaches include incorporating ESG into AEI and consulting external rating parties like GRESB when assessing potential acquisitions. More investors are also leveraging green financing for ESG upgrades as additional costs are required. These include developers, REITs and fund managers.
This report was originally published in https://apacresearch.cbre.
Singapore's carbon tax will be gradually increased from the current SG$5/tonne of carbon emissions up to SG$50-80 in 2030.
The first payments under the newly proposed tax levels will be due in 2025, based on 2024 emissions. Large facilities will be most impacted, but end-energy consumers will also feel the increase.
There are meaningful ways to reduce exposure – both for OPEX (facilities) and end-energy consumers. Facilities should look into driving energy efficiency and carbon efficiency into operations via building controls, fabric improvements, and efficient building services and installations through CAPEX.
Meanwhile, a reduction in end-energy user exposure can be countered by providing subsidies and monetary incentives.
Read the full article at https://www.cushmanwakefield.com/en/singapore/insights/singapore-carbon-tax-2022
Read MoreSingapore has announced that it is lifting a 2019 moratorium on the construction of new data centres, however government concerns about energy efficiency and consumption mean new facilities will need to meet rigorous standards.
In the short term, the number of new data centres will be very limited, with a maximum of three approvals in a new post-mortarium pilot phase, which begins in the second quarter of this year and which will last 12-18 months. The new data centres will also have a cap on their power use: all must be between 10MW and 30MW.
Jack Harkness, director, industrial & logistics, Asia at Savills, says: “The end of the moratorium and permission for new data centres is good news, as is the focus on sustainability, however with only three approvals in this pilot phase, competition will be fierce.”
The Singapore government imposed a moratorium on construction of new data centres in 2019, due to concerns about the amount of electricity they use. At present, the city-state has 70 data centres with aggregate capacity of 1000MW; the sector uses around 7% of Singapore’s electricity.
Read MoreReady or not, the metaverse is already a force to be reckoned with. This fast-evolving network of virtual spaces is not just defying physics – it’s set to redefine real estate as we know it.
The metaverse is a network of virtual spaces where people can socialise, play, work, and even own property. On this platform, billed as the next iteration of the internet, just about anything is possible – owning a Grand Slam tennis court in pixel form, becoming the virtual neighbour of millionaire celebrities, or acquiring a stake in a digital shopping mall selling high fashion.
But can virtual worlds generate tangible value for occupiers and investors? According to our experts, the answer is an emphatic yes.
Read MoreThis report was originally published in https://apacresearch.cbre.com/en/research-and-reports/Asia-Pacific-Hotel-Market-Outlook_Trends-to-Watch-in-2022
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