Cushman & Wakefield opens office in Philippines
Track2Realty: Cushman & Wakefield has expanded into the Philippines with a new office in Manila, its 5th new office in Asia Pacific so far in 2012.
Track2Realty: Cushman & Wakefield has expanded into the Philippines with a new office in Manila, its 5th new office in Asia Pacific so far in 2012.
Asia and Latin America’s economic resurgences have fueled an upturn in retail activity, with increasing rents reflecting high demand for the limited amount of prime retail opportunities in both regions, according to A Global Perspective on the Shopping Center Industry, a new global retail report from Cushman & Wakefield and the International Council of Shopping Centers (ICSC).
Jones Lang LaSalle’s markets experts have shared their expectations for the office leasing markets in Asia Pacific in the second quarter of 2012. In those markets that were experiencing office rental declines in previous quarters, the Markets teams are anticipating a slowdown in the rate of decline, for example a three to four percent fall in Grade A office rents this quarter in Hong Kong compared to an actual 6.3 percent decline in the first quarter.
Asia Pacific Office market report by Cushman & Wakefield – that compared the rental values of Central Business Districts (CBD) across Asia Pacific – ranks NCR as the 5th most expensive CBD location in the region while Mumbai – CBD ranked 10th most expensive location in APAC. Traditionally expensive office destinations of Hong Kong, Singapore and Tokyo (continued to hold the top three positions respectively.
While the rest of the world continues to recover from decreased tourism, international hotel chains are bullish to the Asia Pacific region where the travel market is on the rise and struggling to keep up with the demand.
Both absorption and leasing activity remained robust in Pune in 1H11. Net overall absorption was 2.3 million sq ft (213,591 sqm), with 1.5 million sq ft leased during 2Q11.
Demand continued to be robust in Bangalore with corporates expanding and leasing large spaces.
Leasing activity continued to remain strong in suburban micro-markets of Delhi – NCR, while the CBD and SBD saw moderate activity.
Jones Lang LaSalle has been named ‘Best Property Consultancy’ in Asia Pacific at ‘The Asia Pacific Property Awards 2011 in association with Bloomberg Television’ event held in Shanghai on Tuesday.
Corporate confidence is boosting activity in top tier office markets around the world, leading to accelerating early cycle rental growth and robust capital value growth in prime assets, especially where new quality supply is limited, according to Jones Lang LaSalle’s inaugural, quarterly Global Office Outlook report.