Asia’s largest economies are continuing to struggle to move past the pandemic, with cities such as Singapore, Hong Kong and Tokyo still sketching out recovery plans, and real estate investors continuing to measure the impact of lockdowns and work-from-home arrangements.
To better understand how the region’s economic recovery is influencing top office markets around Asia, Mingtiandi has invited speakers from Allianz Real Estate, KKR, Gaw Capital Partners and Colliers International to a panel discussion on 19 October on the company’s MTD TV video platform.
With economic uncertainty still widespread, Asia’s deepest office markets, including the Greater China cities of Shanghai, Beijing and Hong Kong, North Asia hubs Seoul and Tokyo and Singapore in Southeast Asia, are widely seen as providing the most dependable returns for real estate investors in region, but are facing competition from alternative asset classes such as logistics, as markets fathom the post-pandemic future.
Starting at 10:00 AM Hong Kong time, the interactive session, which is sponsored by Yardi, will explore where some of the region’s most experienced investors and advisors expect to achieve yields in the next 12 months and review what the market has taught us so far in 2021.
Top Fund Managers
Representing Allianz Real Estate in the panel will be Rushabh Desai, chief executive for Asia Pacific with the property investment division of European insurer Allianz. With assets under management of more than $8 billion across Asia Pacific, Allianz Real Estate grew its portfolio in the region by 16 percent in 2020, and early this year managed the acquisition of a 50 percent stake in Singapore’s OUE Bayfront for $477 million.
US private equity giant KKR will be represented by head of real estate for Asia, John Pattar, whose team closed on $1.7 billion in equity for its first dedicated Asia real estate fund earlier this year. Under Pattar’s leadership, KKR has been active in Asia’s top real estate markets across the industrial, commercial and other sectors.
Humbert Pang, managing principal and head of China for Gaw Capital Partners is joining the panel to explain the Hong Kong-based fund manager’s experiences in the market this year, as well as the outlook for the months to come. Just over one year ago Gaw Capital helped lead the HK$9.84 billion ($1.27 billion) acquisition of Swire Properties’ CityPlaza One in Hong Kong, which stands as the second-largest commercial investment transaction in the city in the past two years.
Providing a veteran advisor’s perspective to the panel will be Terence Tang, managing director for capital markets and investment services for Asia at Colliers International. With more than 30 years experience in the industry, Tang and his team see investment yields remaining stable around Asia as rising office rents provide support to asset owners.
Office Investment All Month
The session on 19 October is the first of four in the Mingtiandi Office Strategies Forum 2021, which will continue through early November with panels each week on leading issues such as the future of the office, how requirements from tech giants are reshaping Asia’s office assets and the growing role of Asian capital in Australian office markets.
Coming up on 26 October will be the Future of the Office session, which will feature David Warneford, head of Australia for Hines; Rico Chan, head of China and co-head of Asia Real Estate for Baker McKenzie; Midori Suzuki-Tshushima, head of client Relations for Japan’s Tosei Asset Advisors; and Eric Schaffer, chief executive for Asia Pacific at office technology provider essensys.
The forum will continue on 28 October with a panel on Asian capital in Australian office markets, which will include speakers from SC Capital Partners, JLL and MSCI, and conclude on 2 November with the Assets for Asia’s New Economy session, which will be led by speakers from JLL, Benoy and other leading real estate firms.
Following the Office Strategies Forum, MTD TV will be back on 23 November with our Property Innovation Forum, with more details on that program here.