Track2Realty: International expansion remains high on the agenda for retailers in 2015, in spite of uncertain economic prospects and cost escalation. CBRE’s research report, How Active are Retailers Globally?, has several interesting implications for the Asia Pacific (APAC) region, with some 85% of luxury and business fashion retailers looking at the region, and 67% of coffee and restaurant retailers doing the same.
Track2Realty: Bangalore has consistently remained the preferred destination for corporate real estate occupiers in the country over the last couple of years. More recently though, our IT City outperformed itself by catapulting into the league of the top performing office markets of the Asia Pacific region during 2014—in the company of Tokyo and Shanghai.
Track2Realty Exclusive: The built environment of Mumbai real estate for long has been busy with fixing the shortfall of the affordable housing. The debate has more often than not been centered on the three key processes that could lead to the availability of mass housing in a peninsular city where the availability of land remains the primary concern.
Track2Realty: At nearly US$160 per sq. ft. per annum, Delhi’s Central Business District (CBD) of Connaught Place was ranked as the sixth most expensive prime office market in the world, according to CBRE’s semi-annual Global Prime Office Occupancy Costs survey. Mumbai’s alternative business district of Bandra–Kurla Complex (BKC) remained at the sixteenth, and its CBD of Nariman Point at the thirty-second positions on the Top 50 rankings for global prime office properties.
Track2Realty: Sentiment around Indian real estate among both domestic and international investors has improved in recent times, following the election of a new government and also on account of an upturn in consumer demand, says theEmerging Trends in Real Estate® Asia Pacific 2015 report, published jointly by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).
Track2Realty: Despite overall retailer demand remaining generally subdued for retail real estate space in the Asia Pacific region during the July–September period of the year (Q3 2014)—major global mass market fashion brands continued with steady space transactions in India and emerging markets of Southeast Asia.
Track2Realty: Emerging trends in the workplace point to a revolution in the way workplaces operate in the next 15 years, according to a white paper launched jointly by CBRE and Genesis, a leading real estate innovator, developer and operator from China.
Track2Realty: India’s economy grew 5.7% y-o-y in Q1 2014–15 (April–June) belying market forecasts of 5.3%, and showing signs of recovery following annual growth numbers of between 4.4% and 5.2% in each quarter between Q1 2012–13 and Q4 2013–14.
Track2Realty: The global house price boom continues, with a new geographical twist. Housing markets surged during the year to Q2 2014 in Dubai, parts of Europe and the Pacific. In contrast, several Asian governments have implemented cooling measures, successfully restraining their housing markets, and the US housing market boom is weakening.
Track2Realty: Ahmedabad, Jaipur, Kochi and Kolkata have significantly improved their value proposition for IT-BPM services delivery over last five years and emerged as front runners next only to Tier I cities or ‘Leader’ locations which continue to be the preferred choices for IT-BPM industry.