Global companies said their real estate portfolios will grow most in Asia by 2013, boosted by the powerhouse economies of China and India, with those in more mature markets trading sideways, a survey said. The Global Corporate Real Estate Survey by Jones Lang LaSalle and Thomson Reuters found respondents believed growth would be strongest in Asia Pacific.
“The return to business growth in Asia is reflected in the predicted future space requirements in the region,” said John Forrest, JLL’s chief executive of corporate solutions for Asia Pacific, in a statement. In North Asia, economic dynamo China would help drive real estate portfolio values up by 60 per cent over the three-year period, while India would drive South Asian portfolio values up by 43 per cent, the survey showed.
South East Asian property portfolios would rise 27 per cent in value over the same period. The survey did not divine whether growth would be organic, or from development and acquisitions. However, overall portfolio sizes in United States and western Europe would remain flat or fall over the next three years, the survey showed.
