We just completed our 2015 CEO Summit in New York City. This is the first of what will become an annual event, specifically designed to enable the CEOs from around the globe who sponsor our publications to come together, connect with each other, exchange ideas and debate key issues that are important to them.

Eight years ago, investors were shell-shocked when their real estate investment funds came crashing down along with the rest of their multi–asset class portfolios. 

London’s West End was the world’s highest-priced office market for the second straight year, and Hong Kong Central, Beijing Finance Street, Beijing Central Business District and Hong Kong West Kowloon rounded out the top five most expensive spots in the rankings.

Institutional investors are increasing target allocations to real estate, according to the third annual real estate allocation survey from Hodes Weill & Associates and Cornell University’s Baker Programme in Real Estate, but at the same time remain significantly underallocated.

December may have closed out 2015 relatively strongly for both Asia Pacific and global property stocks (returning 2.5 percent and 1.4 percent, respectively), but it capped a turbulent year in which property stocks were buffeted by changing interest rate and global economic growth expectations, even though real estate fundamentals were generally good and demand for real estate assets by institutional investors was strong across markets.

Manila-based Emperador Inc has purchased the 55-storey Torre Espacio office property in Madrid for €550 million (US$614 million) from Grupo Villar Mir.