We are moving well beyond the pandemic in our everyday lives. But its effects are still felt across Asian real estate, particularly in where and how investors allocate capital.

For many businesses, the post-pandemic picture has been an exercise in risk management, notes Ankur Gupta, head of Asia Pacific and the Middle East with Brookfield’s real estate group. Still, with Asia accounting for roughly 50 percent of global economic output and 70 percent of its growth, the continent remains the place to invest.

That has thrust emerging Asia, particularly markets such as India and Vietnam, to the fore. “Access to a large skilled workforce make these markets cost-effective manufacturing destinations, while a rapidly expanding middle class and a large domestic market allows businesses to tap into local consumer demand and drive business growth,” Gupta explains.

On the flipside, the drop-off for global allocations into China has been dramatic. Cross-border deals fo