Focus on ESG Objectives to Lead Hong Kong Market Trends

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Stronger demand for inexperienced and premium house

Concentrate on ESG-related compliance anticipated to guide Hong Kong market developments for 2022
Tenants to favor premium and inexperienced workplace house
Rising demand for automated warehouses, well being facilities, collaborative workspaces with enhanced digital interactive instruments

HONG KONG SAR – Media OutReach – 16 March 2022 – International actual property companies agency Cushman & Wakefield introduced its Hong Kong Market Path 2022 report right now. Responding to actual property trade stakeholders’ rethinking of methods for 2022, the brand new report highlights six rising elements anticipated to be key to the long run course of the business actual property market in Hong Kong within the 12 months of The Tiger. A renewed give attention to ESG-related compliance is recognized because the main pattern for the yr, with elevated climate-related danger necessities for fund managers now in play. Further developments decided for the yr heart on an anticipated revival for premium workplace properties, developer land acquisitions across the Northern Metropolis initiative, higher automation within the logistics trade, new enlargement within the well being and wellness sector, and rising demand for enhanced digital communications and collaborative workspaces.

“The 12 months of the Tiger is about to carry a couple of vital transformation in Hong Kong’s business actual property market. The emergence of a fifth wave of COVID-19, along with continued strict border controls, has seen traders and firms seeking to undertake new methods to handle the brand new regular in business actual property enterprise operations. In response, Cushman & Wakefield has labored to determine the important thing developments we see rising within the Hong Kong market in 2022. Firstly, we forecast that ESG aims and greener actual property practices might be extra influential than ever, particularly as we’ve got already witnessed government-backed SFC laws to actively have interaction fund managers to implement local weather dangers. And, linked to the give attention to ESG, multinational corporations might be additional incentivized to hunt inexperienced and wellness-certified workplace buildings, with premium properties then prone to spearhead the gradual workplace sector restoration,” commented John Siu, Managing Director, Hong Kong, Cushman and Wakefield.

“We additionally anticipate builders and traders to actively search for land growth alternatives, significantly beneath the auspices of the Northern Metropolis initiative. Within the industrial sector, we see accelerated automation, with higher numbers of logistics firms progressively using robotics and automation of their day-to-day operations. In retail, rising consciousness in Hong Kong of well being and wellness elements, and higher curiosity in more healthy existence, will spur enlargement in gyms, health facilities and associated companies, generally working with 24/7 service fashions. Lastly, within the mild of continued social distancing and workforce preferences, we anticipate occupiers to improve digital interplay instruments, feeding demand for enhanced digital communications and collaborative workspaces,” added Keith Chan, Head of Analysis, Hong Kong, Cushman and Wakefield.

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About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a number one world actual property companies agency that delivers distinctive worth for actual property occupiers and house owners. Cushman & Wakefield is among the many largest actual property companies corporations with roughly 50,000 workers in over 400 workplaces and 60 nations. Throughout Larger China, 22 workplaces are servicing the native market. The corporate gained 4 of the highest awards within the Euromoney Survey 2017, 2018 and 2020 within the classes of Total, Company Letting/Gross sales, Valuation and Analysis in China. In 2021, the agency had income of $9.4 billion throughout core companies of property, amenities and challenge administration, leasing, capital markets, valuation and different companies. To be taught extra, go to www.cushmanwakefield.com.hk or observe us on LinkedIn (https://www.linkedin.com/firm/cushman-&-wakefield-greater-china).