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Cushman Says Asia Is Best Destination for Property Investments
By Kathleen Chu – Jul 18, 2013 Cushman & Wakefield Inc., the largest closely held commercial broker, said Asia is the place to be for investment opportunities amid growing interest in the region’s property market. “Interest in real estate is absolutely as high as we have ever seen,” Executive Chairman Carlo Sant’Albano, 49, said in an interview in Tokyo. “When you look at the growth profile of the world in the next several years, Asia remains absolutely critical path for growth.” Carlo Barel Di Sant’Albano, executive chairman and chief executive officer of Cushman & Wakefield Inc. Photographer: Tomohiro Ohsumi/Bloomberg Asia accounted for 47 percent of global real estate transactions last year, according to data compiled by the New York-based broker. Global property investment volume will probably exceed $1 trillion this year, the highest level since 2007, according to the data. China, Japan and Hong Kong were the top investment targets in 2012 from Asia, according to Cushman. The company, run by Italy’s Agnelli family that also controls Fiat SpA (F) , expanded its operations into Taiwan and the Philippines this year to capture the opportunities in the region. “If you want growth, Asia is the place you want to come,” said Sant’Albano. “If you want a very solid core investment, maybe more yield related rather than capital gain, you would look at Japan, London and Australia, and some of the major cities around the world.” To contact the reporter on this story: Kathleen Chu in Tokyo at kchu2@bloomberg.net To contact the editor responsible for this story: Andreea Papuc at apapuc1@bloomberg.net Continue reading
Emirates launches new flights to Japan
Japanese investors who hold assets in the UAE will find it much easier to travel between the two countries after Dubai-based airline Emirates added new flights to Tokyo International Airport (Haneda). Thierry Antinori, Emirates’ executive vice president of passenger sales worldwide, said the firm first started providing services to the Far East in 2002 when it established a route between Dubai and Osaka. He insisted that relations between the two nations have blossomed since then. In fact, figures provided by Japan External Trade Organisation confirmed that traders in the two countries completed deals worth $53.1 billion (£9.43 billion) in 2012, which was a 5.4 per cent upturn on the previous year. Mr Antinori described Haneda as Emirates’ “third gateway” into Japan and is confident that demand for passenger and cargo services is high enough to justify laying on another daily flight. “We value our partnership with Tokyo International Airport; it is one that helps to connect two global hubs of development and growth – Japan and the UAE. We know that Haneda will play an integral role in our route network and the launch of services demonstrates Emirates’ commitment to Japan,” he remarked. By adding this new service, Emirates SkyCargo – the firm’s freight transport division – will be able to carry an additional 23 tonnes of goods per flight, which equates to an extra 160 tonnes each week. Emirates now operates services to 134 destinations in 77 countries from Dubai and plans are in place to increase this in the near future. The business has already underlined its commitment to the European market and new flights to Stockholm in Sweden will be launched in September 2013. Australia is another important destination for Emirates and the firm revealed last month that Brisbane would be the third city in the country to accommodate its double-decker A380 aircraft. With so many new flights being added, it is no surprise that experts are predicting Dubai International Airport will become the world’s busiest aviation hub within the next few years. Continue reading
Johannesburg Ranks Among Top 20 Global Emerging Property Investment Hot Spots
Friday, 24 May 2013 14:02 Johannesburg ranks among Top 20 global emerging property investment hot spots Published by Commercial Property News The global search for income has prompted many of the world’s sovereign wealth and pension funds to increase their exposure to commercial property . That could bring an influx of foreign investment to SA’s office, retail and hotel markets in the next few years. In fact, Johannesburg now ranks among Jones Lang LaSalle’s top 20 global emerging property investment hot spots. Jeremy Kelly, director of global research at Jones Lang LaSalle, said during a visit to SA last week that though the world’s wealthiest investors continued to target superprime office and retail properties in traditional gateway cities like London, Paris, New York, Hong Kong and Tokyo, opportunities were becoming scarcer as capital chased a limited pool of trophy assets. That is prompting investors to search for real estate investment opportunities in other countries and cities. Direct commercial real estate transactions are expected to increase 13% this year to US450bn-500bn. Kelly says 30 cities, mainly across the US, the UK, Europe and Australasia, accounted for half of total global real estate investments from 2010 to 2012. He expects global investors to widen their search for property investment opportunities to 50 cities over the next five to seven years. China, India, Brazil, Turkey and SA will be key growth areas, as corporate occupiers and retailers grow their presence in emerging markets. “The world’s real estate investors are bound to follow corporates into these markets,” says Kelly. Though Africa as a continent is starting to make its mark on the world real estate stage, Kelly says Johannesburg is the only African city likely to be included in the global top 50 cities by 2020. The ranking reflects a city’s desirability as a business and real estate investment hub. SA has already seen an uptick in foreign investment into listed property stocks, which is set to accelerate now that the JSE has adopted the internationally recognised real estate investment trust structure. Growthpoint Properties executive director Estienne de Klerk says offshore investors have increased their stake in the JSE top-40 counter from 3% in 2009 to 18% currently. Source: FM Continue reading
