Property 

Australian incubator RealTechX makes a big push to scale up real estate technologies in Asia-Pacific

A A$23 million (US$16 million) incubator programme for property start-ups, backed by the Australian government, is seeking to bring technology-led innovation and solutions to markets in Asia-Pacific, including Hong Kong. RealTechX is an incubator programme that aims to bring together 10 start-ups with market-ready products or services. Launched by real estate innovation and venture capital firm Taronga Ventures, a part of Sydney-based investment house Taronga Group, the fund is accepting… Source link

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As artificial intelligence and fintech come knocking, half of Asia-Pacific finance professionals fear for their jobs

Half of finance professionals in Asia-Pacific believe their jobs will either disappear or change substantially over the next decade, with some of their work taken over by artificial intelligence and other technologies, according to a poll by CFA Institute.Globally, this number stands at 48 per cent. The institute, a global association of investment professionals, offers the Chartered Financial Analyst (CFA) designation as well as other international professional accreditation. It has now… Source link

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As tourism in the Asia-Pacific booms, the hotel industry is the real estate sector to watch

Last year, Asia’s hotel sector accounted for just over 5 per cent of commercial real estate deals across the region. Yet the industry’s small share in investment transactions belies the strong performance and growth potential of a market that is one of the biggest beneficiaries of the global increase in spending on travel and tourism. According to a report by property adviser Jones Lang LaSalle in February, the Asia-Pacific hotel market is expected to be “the stand-out region from a growth… Source link

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China overtakes Australia as top destination in Asia-Pacific for foreign commercial property investors, CBRE survey finds

China has overtaken Australia as the top destination in Asia-Pacific for cross-border investments in commercial property for the first time, with Shanghai the preferred city for overseas buyers, according to a survey by CBRE.About a quarter, or 25.8 per cent, of the 348 global real estate investors polled between November and January said they were interested in China, up 3.7 percentage points from a year ago.The office segment remained the most popular sector, with more than a third of… Source link

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Fitch flags looming casino ‘glut’ in Asia-Pacific, amid arms race catering for wealthy Chinese gamblers

Casino operators in Asia-Pacific banking on Chinese gamblers may find themselves in trouble in the years to come, amid potential oversaturation of the premium market, according to a recent report by Fitch Ratings.The ratings agency cited the huge investments in gaming operations in Asia-Pacific that cater to wealthy Chinese consumers combined with the economic slowdown on the mainland, which they say has hurt Chinese demand for gaming activities.“Billions of dollars were invested in the last… Source link

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Impact of low interest rates on Asia-Pacific commercial property prices likely to be limited, says UBS

The pause in US Federal Reserve interest rate increases is unlikely to boost commercial property prices in Asia-Pacific, according to a new report from UBS.Citing historically low rental yields, driven in part by high pricing, the report noted that in Asia-Pacific cities outside Australia, the “marginal benefit from an extended period of low interest rates is very limited”.“Yields across most APAC markets are at their lowest in the last 10 years. Obviously, that does not mean prime yields… Source link

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China 

US hotel giant Marriott’s goal of 1,000 properties by 2020 in Asia-Pacific to be led by China and India

Marriott International is ramping up its presence in Asia-Pacific as it targets 1,000 properties in the region by 2020, with the US hotel operator identifying China, India and Southeast Asia as its growth drivers.This year alone the company expects to add about 100 new hotels or close to 20,000 rooms in the region.Marriott said it well positioned to capitalise on global travel trends in China, India, and Indonesia, three of the world’s four most populated nations.“As the world’s leading… Source link

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Singapore 

Uber launches Asia-Pacific hub in Singapore, no plans to restart in South-east Asia, Singapore News

SINGAPORE – Just a little over a year after it announced its exit from Singapore and the South-east Asian market, Uber now says it is in the Republic to stay. The American ride-hailing giant officially launched its Asia-Pacific hub here on Tuesday (April 2), occupying about 2,000 sq m at Fraser’s Tower on Cecil Street, overlooking the Central Business District. The new office, which is headed by Uber’s international chief business officer Brooks Entwistle, oversees the firm’s operations in nine countries across the region, including Australia, Bangladesh and Japan. While…

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US investors remain top buyers of Asia-Pacific commercial property

Investors from the United States continued to be the biggest spenders on commercial property in Asia-Pacific in the first quarter of 2019, according to New York-based data provider Real Capital Analytics, having surpassed their Asian counterparts in 2018. According to the company, as of Monday, US investment in the region’s property markets this year amounted to US$3.2 billion. Hong Kong was second with US$3.1 billion, followed by Singapore at US$636 million, Australia at US$528 million and… Source link

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Under Armour to use Hong Kong as its launching pad for Asia-Pacific growth and competition with bigger sportswear rivals

New York-listed sportswear brand Under Armour is scaling up in Asia as it competes with global industry giants. But it will do so, on its own terms.The company, which will open a regional headquarters in Hong Kong later this year, will not change its products to fit in with the global “athleisure” trend, senior management said in an interview.President and chief operating officer Patrik Frisk admitted Under Armour was much smaller than the likes of Nike and Adidas, but said the company would… Source link

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