{"id":254365,"date":"2021-10-19T20:30:48","date_gmt":"2021-10-19T12:30:48","guid":{"rendered":"https:\/\/www.mingtiandi.com\/?p=254365"},"modified":"2022-08-15T14:44:12","modified_gmt":"2022-08-15T06:44:12","slug":"allianz-kkr-gaw-and-colliers-on-asias-top-office-markets","status":"publish","type":"post","link":"https:\/\/www.mingtiandi.com\/real-estate\/events\/allianz-kkr-gaw-and-colliers-on-asias-top-office-markets\/","title":{"rendered":"Allianz, KKR, Gaw and Colliers See Top Asia Office Markets on the Upswing"},"content":{"rendered":"<div class=\"container-lazyload container-vimeo js-lazyload--not-loaded\"><a href=\"https:\/\/player.vimeo.com\/video\/635905972?h=088a468b19\" id=\"635905972\" class=\"lazy-load-vimeo preview-lazyload preview-vimeo\" data-video-thumbnail=\"https:\/\/i.vimeocdn.com\/video\/1278366340-5f1a3e6326325a396b9e6c250c2501334445c7f32fd5f87fe_295x166\" data-video-title=\"Mingtiandi Office Strategies Forum 2021: Office Investment in Core APAC Markets\" title=\"Play video &quot;Mingtiandi Office Strategies Forum 2021: Office Investment in Core APAC Markets&quot;\">https:\/\/player.vimeo.com\/video\/635905972?h=088a468b19<\/a><noscript>Video can&#8217;t be loaded because JavaScript is disabled: <a href=\"https:\/\/player.vimeo.com\/video\/635905972?h=088a468b19\" title=\"Mingtiandi Office Strategies Forum 2021: Office Investment in Core APAC Markets\">Mingtiandi Office Strategies Forum 2021: Office Investment in Core APAC Markets (https:\/\/player.vimeo.com\/video\/635905972?h=088a468b19)<\/a><\/noscript><\/div>\n<p>The COVID-19 pandemic is still throwing curveballs at Asian economies, but the region\u2019s office markets have weathered the crisis and are set for easier times, according to experts from Allianz Real Estate, KKR, Gaw Capital Partners and Colliers International who spoke at an industry event today.<\/p>\n<p>\u201cThe recovery is going to be bumpy out of this pandemic, but the good news is that people are getting used to it, quarantines and lockdowns, and, as this transition happens, people are returning to the workplace,\u201d said Rushabh Desai, chief executive for Asia Pacific at Allianz Real Estate.<\/p>\n<p style=\"text-align: center;\"><div style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"mingt-1559660246\"><a data-no-instant=\"1\" href=\"https:\/\/www.yardi.asia\/Resource\/?resource=Technology+Transformation+in+Asian+Real+Estate+%28White+Paper%29&#038;utm_source=mingtiandi&#038;utm_medium=website&#038;utm_campaign=wp23ttare\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"Yardi &#8211; Asia Proptech Report 2023 v2_320\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/Yardi-Asia-Proptech-Report-2023-v2_320.gif\" alt=\"\"  width=\"320\" height=\"320\"  style=\"display: inline-block;\" \/><\/a><\/div><\/p>\n<p>Desai, whose team has made <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/finance-real-estate\/alllianz-fund-buys-oue-bayfront-shanghais-innov-star\/\" target=\"_blank\" rel=\"noopener\">major office investments in Singapore and Shanghai this year<\/a>, saw his reading of the market largely seconded by Terence Tang, managing director for capital markets and investment services for Asia at Colliers International, John Pattar, head of real estate for Asia at US fund manager KKR, and Humbert Pang, managing principal and head of China for Gaw Capital Partners who joined the panel discussion.<\/p>\n<p>The four senior executives were appearing at a panel session on office investment in Asia\u2019s core markets on Mingtiandi\u2019s MTD TV video platform. Desai, Tang, Pattar and Pang also dove into ways that office requirements have been reshaped by the pandemic and the impact of tech occupier demand on office leasing, with both topics set to be covered in more depth in future sessions of Mingtiandi\u2019s Office Strategies, which is sponsored by Yardi.<\/p>\n<h3>Fundamentals Still Strong<\/h3>\n<p>While drop-offs in office occupancy during the pandemic have led some analysts to predict that take-up of desk space could suffer long term as more professionals work from home, Pattar predicts that the market will remain \u201cvery strong\u201d as demand continues to grow in the region and added that speculation on the \u201cdeath of the office is very premature.\u201d<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 25%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div data-carousel-extra='{\"blog_id\":1,\"permalink\":\"https:\\\/\\\/www.mingtiandi.com\\\/real-estate\\\/events\\\/allianz-kkr-gaw-and-colliers-on-asias-top-office-markets\\\/\"}' id='gallery-1' class='gallery galleryid-254365 gallery-columns-4 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/speaker-bio-rushabh-desai-of-varsity-group-asia-pacific\/attachment\/rushabh-desai-resized\/'><img decoding=\"async\" data-attachment-id=\"223748\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/04\/Rushabh-Desai-resized.jpg\" data-orig-size=\"780,788\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Rushabh Desai &#8211; Varsity Group Asia Pacific\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/04\/Rushabh-Desai-resized-396x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/04\/Rushabh-Desai-resized.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/04\/Rushabh-Desai-resized-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Rushabh Desai, Varsity Group Asia Pacific\" aria-describedby=\"gallery-1-223748\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/04\/Rushabh-Desai-resized-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/04\/Rushabh-Desai-resized-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/04\/Rushabh-Desai-resized-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/04\/Rushabh-Desai-resized-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/04\/Rushabh-Desai-resized-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-223748'>\n\t\t\t\tRushabh Desai, CEO, Varsity Group Asia Pacific\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/speaker-bio-terence-tang-of-colliers\/attachment\/terence-tang-780x780px\/'><img decoding=\"async\" data-attachment-id=\"246925\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px.jpg\" data-orig-size=\"780,780\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Terence Tang, Managing Director, Capital Markets &#038; Investment Services, Asia, Colliers\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px-400x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Terence Tang, Managing Director, Capital Markets &amp; Investment Services, Asia, Colliers\" aria-describedby=\"gallery-1-246925\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px-400x400.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px-250x250.jpg 250w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/08\/Terence-Tang-780x780px.jpg 780w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-246925'>\n\t\t\t\tTerence Tang, Managing Director, Capital Markets &#038; Investment Services, Asia, Colliers\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/retail\/clsa-capital-partners-sells-hong-kongs-zing-mall-for-269m\/attachment\/john-pattar\/'><img decoding=\"async\" data-attachment-id=\"26597\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2017\/08\/john-pattar.jpg\" data-orig-size=\"200,200\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"john pattar\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2017\/08\/john-pattar.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2017\/08\/john-pattar.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2017\/08\/john-pattar-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"John Pattar CLSA\" aria-describedby=\"gallery-1-26597\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2017\/08\/john-pattar-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2017\/08\/john-pattar-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2017\/08\/john-pattar.jpg 200w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-26597'>\n\t\t\t\tJohn Pattar, Partner and Head of Real Estate, Asia, KKR\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/speaker-bio-humbert-pang-of-gaw-capital\/attachment\/humbert-pang-managing-principal-co-chair-of-alternative-investments-at-gaw-capital-partners-1\/'><img decoding=\"async\" data-attachment-id=\"236319\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/05\/Humbert-Pang-Managing-Principal-Co-Chair-of-Alternative-Investments-at-Gaw-Capital-Partners-1-e1633677495239.jpg\" data-orig-size=\"1028,717\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Humbert Pang, Managing Principal, Co-Chair of Alternative Investments at Gaw Capital Partners (1)\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/05\/Humbert-Pang-Managing-Principal-Co-Chair-of-Alternative-Investments-at-Gaw-Capital-Partners-1-e1633677495239-400x279.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/05\/Humbert-Pang-Managing-Principal-Co-Chair-of-Alternative-Investments-at-Gaw-Capital-Partners-1-e1633677495239-1024x714.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/05\/Humbert-Pang-Managing-Principal-Co-Chair-of-Alternative-Investments-at-Gaw-Capital-Partners-1-e1633677495239-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Humbert Pang, Managing Principal, Co-Chair of Alternative Investments at Gaw Capital Partners (1)\" aria-describedby=\"gallery-1-236319\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/05\/Humbert-Pang-Managing-Principal-Co-Chair-of-Alternative-Investments-at-Gaw-Capital-Partners-1-e1633677495239-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/05\/Humbert-Pang-Managing-Principal-Co-Chair-of-Alternative-Investments-at-Gaw-Capital-Partners-1-e1633677495239-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/05\/Humbert-Pang-Managing-Principal-Co-Chair-of-Alternative-Investments-at-Gaw-Capital-Partners-1-e1633677495239-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/05\/Humbert-Pang-Managing-Principal-Co-Chair-of-Alternative-Investments-at-Gaw-Capital-Partners-1-e1633677495239-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/05\/Humbert-Pang-Managing-Principal-Co-Chair-of-Alternative-Investments-at-Gaw-Capital-Partners-1-e1633677495239-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-236319'>\n\t\t\t\tHumbert Pang, Managing Principal, Head of China, Co-chair of Alternative Investments, Gaw Capital Partners\n\t\t\t\t<\/dd><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>\u201cWith the office, it is about recovery,\u201d Pattar said. \u201cThis is driven by demand and supply, the old fundamentals of real estate. If we have economic growth, we have people going into industries and people wanting to be in Singapore, for various reasons that are technology-driven, Hong Kong is about finance, Seoul is a mixture of IT and finance, Japan is still the old economies of finance and economics, then you have growth in Australia with finance centered in Sydney.\u201d<\/p>\n<p>Desai, who is based in Singapore, pointed to the region\u2019s crowded urban centres as making a swift return to the office more likely than in economies where professionals enjoy larger homes.<\/p>\n<p>\u201cIn Asia Pacific, we have very densely populated cities and people have smaller homes so there is a natural tendency to come back,\u201d Desai said.<\/p>\n<h3>New Requirements Emerge<\/h3>\n<p>As workers return to the office they are bringing with them higher expectations for their workplaces, particularly with regard to health and wellness.<\/p>\n<p>\u201cI think, the value of the office, no one is denying that it will stay,\u201d said Colliers&#8217; Tang. However, he said that top tenants will be looking for safer environments to protect their staff, which could ultimately boost rents.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/oxford-ivanhoe-kic-savills-on-singapore-india-markets\/\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"14 NOVEMBER 2023 conrad centennial Singapore\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>\u201cThe requirement of having cleaner air within the building, filtration systems, all of these will be required and that would also mean higher maintenance costs,\u201d he said. The veteran advisor added that these expectations may soon be backed by local regulations.<\/p>\n<p>\u201cParticularly in mature cities like in Australia, Hong Kong, Singapore and even Shanghai and Beijing, I think governments will start imposing incrementally higher requirements in terms of safeguarding the occupants in the building, and that will affect the running cost of the property,\u201d he said.<\/p>\n<h3>Tech Reshapes Demand<\/h3>\n<p>Gaw Capital, which last year acquired a 96,894 square metre (1 million square foot) office building in Hangzhou <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/finance-real-estate\/gaw-bets-on-alibaba-in-hangzhou-office-acquisition\/\" target=\"_blank\" rel=\"noopener\">which is partially leased to Alibaba<\/a>, sees office demand in China already back to pre-crisis levels, due in part to demand from companies like the mainland e-commerce giant.<\/p>\n<div id=\"attachment_212264\" style=\"width: 790px\" class=\"wp-caption alignnone\"><img decoding=\"async\" aria-describedby=\"caption-attachment-212264\" class=\"size-full wp-image-212264\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/01\/image001.jpg\" alt=\"Innov Star Shanghai\" width=\"780\" height=\"373\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/01\/image001.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/01\/image001-400x191.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/01\/image001-420x201.jpg 420w\" sizes=\"(max-width: 780px) 100vw, 780px\" \/><p id=\"caption-attachment-212264\" class=\"wp-caption-text\">Allianz acquired the Innov Star project in Zhangjiang High Tech Park earlier this year<\/p><\/div>\n<p>\u201cWithin our portfolio, occupancy is bouncing back to pre-covid time. Demand is very strong, but the tenant profile has changed,\u201d Gaw Capital\u2019s Pang said. He attributes that rebound to the rapid growth of tech companies which are finding fresh markets for their innovations after the dawn of the pandemic.<\/p>\n<p>Allianz\u2019 Desai also pointed to the new economy reshaping the office market, after buying an office property in Shanghai\u2019s Zhangjiang High Tech Park during January of this year for around RMB 2.2 billion ($344 million).<\/p>\n<p style=\"text-align: center;\"><div style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"mingt-979969588\"><a data-no-instant=\"1\" href=\"https:\/\/www.yardi.asia\/Resource\/?resource=Technology+Transformation+in+Asian+Real+Estate+%28White+Paper%29&#038;utm_source=mingtiandi&#038;utm_medium=website&#038;utm_campaign=wp23ttare\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"Yardi &#8211; Asia Proptech Report 2023 v4_250\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/Yardi-Asia-Proptech-Report-2023-v4_250.gif\" alt=\"\"  width=\"780\" height=\"250\"  style=\"display: inline-block;\" \/><\/a><\/div><\/p>\n<p>\u201cAnother acquisition we\u2019ve done this year was in Shanghai, we bought 90 percent of a technology park asset in Shanghai called Innov Star,\u201d Desai said. \u201cThat\u2019s new economy driven demand, so there\u2019s a structural shift going on in China where it\u2019s shifting from manufacturing to services and IT innovation. We invested in business and tech parks because we see the structural shifts taking place in China.\u201d<\/p>\n<h3>Future of the Office Up Next<\/h3>\n<p>Following today\u2019s discussion, Mingtiandi\u2019s office strategies forum is set to continue on Tuesday 26 October with <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/the-future-of-the-office-mtd-tv-panel\/\" target=\"_blank\" rel=\"noopener\">a panel on the future of the office<\/a> featuring David Warneford, who leads Australia for Hines; Rico Chan, head of China and co-head of the Asia Real Estate Group for international law firm Baker McKenzie; Midori Suzuki-Tshushima, head of client relations with Tokyo-based Tosei Asset Advisors and Eric Schaffer, chief executive for Asia Pacific at office technology provider Essensys.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-2 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-2 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 25%;\n\t\t\t}\n\t\t\t#gallery-2 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-2 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div data-carousel-extra='{\"blog_id\":1,\"permalink\":\"https:\\\/\\\/www.mingtiandi.com\\\/real-estate\\\/events\\\/allianz-kkr-gaw-and-colliers-on-asias-top-office-markets\\\/\"}' id='gallery-2' class='gallery galleryid-254365 gallery-columns-4 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/join-the-mingtiandi-office-strategies-forum-2021\/attachment\/warneford-david\/'><img decoding=\"async\" data-attachment-id=\"249279\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Warneford-David-e1645331689112.jpeg\" data-orig-size=\"330,278\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"David Warneford, Senior Managing Director, Head of Australia, Hines\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Warneford-David-e1645331689112.jpeg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Warneford-David-e1645331689112.jpeg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Warneford-David-e1645331689112-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"David Warneford, Senior Managing Director, Head of Australia, Hines\" aria-describedby=\"gallery-2-249279\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Warneford-David-e1645331689112-150x150.jpeg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Warneford-David-e1645331689112-90x90.jpeg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Warneford-David-e1645331689112-250x250.jpeg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-2-249279'>\n\t\t\t\tDavid Warneford, senior managing director and head of Australia, Hines\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon portrait'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/speaker-bio-rico-chan-of-baker-mckenzie\/attachment\/rico-chan\/'><img decoding=\"async\" data-attachment-id=\"191241\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2020\/10\/Rico-Chan-e1601905013968.jpg\" data-orig-size=\"172,193\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Rico Chan, Partner, Baker McKenzie\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2020\/10\/Rico-Chan-e1601905013968.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2020\/10\/Rico-Chan-e1601905013968.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2020\/10\/Rico-Chan-e1601905013968-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Rico Chan, Partner, Baker McKenzie\" aria-describedby=\"gallery-2-191241\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2020\/10\/Rico-Chan-e1601905013968-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2020\/10\/Rico-Chan-e1601905013968-90x90.jpg 90w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-2-191241'>\n\t\t\t\tRico Chan, Partner, Baker McKenzie\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/join-the-mingtiandi-office-strategies-forum-2021\/attachment\/midori-suzuki-by-pro\/'><img decoding=\"async\" data-attachment-id=\"249688\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro.jpg\" data-orig-size=\"727,726\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Midori Suzuki-Tshushima, Head of Client Relations, Tosei Asset Advisors\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro-400x400.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Midori Suzuki-Tshushima, Head of Client Relations, Tosei Asset Advisors\" aria-describedby=\"gallery-2-249688\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro-400x400.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro-640x640.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro-250x250.jpg 250w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Midori-Suzuki-by-pro.jpg 727w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-2-249688'>\n\t\t\t\tMidori Suzuki-Tshushima, Head of Client Relations, Tosei Asset Advisors\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/events\/join-the-mingtiandi-office-strategies-forum-2021\/attachment\/eric-schaffer-photo\/'><img decoding=\"async\" data-attachment-id=\"249783\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Eric-Schaffer-Photo.jpg\" data-orig-size=\"715,636\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Eric Schaffer, CEO, Asia Pacific, Essensys\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Eric-Schaffer-Photo-400x356.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Eric-Schaffer-Photo.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Eric-Schaffer-Photo-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Eric Schaffer, CEO, Asia Pacific, Essensys\" aria-describedby=\"gallery-2-249783\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Eric-Schaffer-Photo-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Eric-Schaffer-Photo-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Eric-Schaffer-Photo-70x70.jpg 70w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Eric-Schaffer-Photo-640x636.jpg 640w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Eric-Schaffer-Photo-420x420.jpg 420w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2021\/02\/Eric-Schaffer-Photo-250x250.jpg 250w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-2-249783'>\n\t\t\t\tEric Schaffer, CEO, Asia Pacific, essensys\n\t\t\t\t<\/dd><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>On Thursday, 28 October Mingtiandi will host <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/asian-capital-australian-offices-mtd-tv-panel\/\" target=\"_blank\" rel=\"noopener\">a panel titled Asian Capital &amp; Australian Offices<\/a>, featuring SC Capital Partners managing director Andrew Heithersay; JLL head of capital markets for Australia, Fergal Harris; Real Capital Analytics head of analytics for Pacific, Benjamin Martin-Henry; and David Scalzo, managing director of Melbourne-based developer Perri Projects.<\/p>\n<p>The final session in the office forum, on 2 November, is <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/assets-for-asias-new-economy-mtd-tv-panel\/\" target=\"_blank\" rel=\"noopener\">Assets for Asia\u2019s New Economy<\/a>, and focuses on how the rise of the tech industry is reshaping office markets around the region. Speakers at that event include Tim Graham, head of capital strategies for Asia Pacific at JLL; Terence Seah, director and head of Hong Kong, Singapore and Shenzhen for global design firm Benoy, and\u00a0Augustine Chin, a director with Swiss private equity fund manager Asia Green Real Estate.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"container-lazyload container-vimeo js-lazyload--not-loaded\">https:\/\/player.vimeo.com\/video\/635905972?h=088a468b19Video can&#8217;t be loaded because JavaScript is disabled: Mingtiandi Office Strategies Forum 2021: Office Investment in Core APAC Markets (https:\/\/player.vimeo.com\/video\/635905972?h=088a468b19)<\/div>\n<p>The COVID-19 pandemic is still throwing curveballs at Asian economies, but the region\u2019s office markets have weathered&#8230;&nbsp;<a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/allianz-kkr-gaw-and-colliers-on-asias-top-office-markets\/\">Read&nbsp;More>><\/a><\/p>\n","protected":false},"author":553,"featured_media":254366,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[3456],"tags":[678,5382,5359,1770,1911,8380,8400,1742],"ppma_author":[8838],"authors":[{"term_id":8838,"user_id":553,"is_guest":0,"slug":"mingtiandi-team","display_name":"Mingtiandi Team","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/2364918d8f7f71133487eb6f62e68fdf?s=96&d=mm&r=g","user_url":"","last_name":"Staff","first_name":"Mingtiandi","description":""}],"_links":{"self":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/254365"}],"collection":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/users\/553"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/comments?post=254365"}],"version-history":[{"count":0,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/254365\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media\/254366"}],"wp:attachment":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media?parent=254365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/categories?post=254365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/tags?post=254365"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/ppma_author?post=254365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}