The future of Asia Pacific’s office market
Asia Pacific’s office market is faring better than that of most other regions, particularly the United States, as more workers have returned to the office and downtown office space continues to garner attraction from national and multinational companies. That’s one of the main takeaways from a recent webinar, “Go Prime or Stay Home: Lasalle, Brookfield, Yardi, Benoy on Future of the Office,” hosted by Mingtiandi.
“If you speak to an investor with lots of U.S. office exposure, they’re going to sound very negative,” said George Goh, head of acquisitions and asset management, Southeast Asia, at LaSalle Investment Management. “If you speak to someone like myself or investors with office exposure in Singapore, South Korea, Japan, it’s going to be overall still positive.”
But in Asia Pacific markets, the “flight to quality” is occurring as well, said Goh. “Multinational companies are demanding higher and higher standards in terms of sustainability,