Publications

- December 1, 2021: Vol. 13, Number 11

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Risk on, or risk off? With a second pandemic-blighted year at its end, how have property investors weathered 2021, and where do they stand on taking investment risk in 2022?

by Alex Frew McMillan

When Suchad Chiaranussati, chairman of SC Capital Partners Group, left Singapore in September to conduct a 24-day roadshow in the United States and Europe, it was the first opportunity in two years for him to see investors face to face, instead of screen to screen. And they all seemed to have the same questions about what is going on in Asia: Will office occupiers demand less space if work-from-home sticks? When will hospitality and retail recover from the hammering they’ve taken? Is the trade overcrowded in logistics and data centres, and how long can their market-leading run continue?

Above all, why has real estate held up so well? The planet has lost 5 million people directly to COVID-19 so far, and unemployment the world over soared. Economies churned violently. Why are values so strong?

Also clear was their indecision about risk. Should they stick with a current hot streak in specialty sectors, turn contrarian, continue to plunk money in boring old core? Chiaran

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