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Year-end outlook from Jones Lang LaSalle predicts on-going growth in transaction volumes across the region next year
SINGAPORE, 16 December 2013 – Direct investment into commercial real estate markets in Asia Pacific in 2014 is set to exceed this year’s transaction volumes, already the strongest year since before the Global Financial Crisis (GFC), according to Jones Lang LaSalle. The firm’s outlook predicts that direct investment into commercial real estate is forecast to reach $130bn in 2014, outpacing the $120bn prediction for year-end 2013 and firmly putting the region back to pre-GCF volumes.
Stuart Crow, Head of Asia Pacific Capital Markets, commented: “As we look towards next year, we expect the momentum we have seen throughout 2013 to continue, as new sources of global capital increase equity in the region. As a result we will see investors move further up the risk curve in search of higher yield, increasing capital inflows into opportunistic and alternative markets such as Vietnam and Indonesia.”
He continued: “As more money becomes available within the region and investors are faced with the on-going challenge of chasing assets, joint ventures development deals and will gain more popularity as an attractive option for foreigners looking to gain access to the region’s commercial real estate markets. A more positive rental outlook will drive development in core markets with even larger deals than we have seen to date, likely to complete next year.
“Given the robust pipeline, increased equity and unrelenting demand, we remain positive in our outlook for 2014 and, at this early stage, expect transaction volumes to exceed our predictions for year-end 2013.”
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Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.7 billion of real estate assets under management.
Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 26, 700 employees operating in 80 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in three Asia Pacific countries at the International Property Awards Asia Pacific 2013, and won nine Asia Pacific awards in the Euromoney Real Estate Awards 2013. www.ap.joneslanglasalle.com
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