SINGAPORE, March 7, 2011 /PRNewswire-Asia/ -- A record additional 6.8 million square metres of office space is forecasted to be delivered in 2011. Together with commercial property rental prices expected to increase further, how property owners leverage this will determine whether the property portfolio is indeed an asset, or is still considered as a liability.
Demand for office spaces in Asia plummeted to a deep low due to the global financial downturn, with Tier One cities such as Singapore, Hong Kong, Shanghai and Beijing suffering the most. However, as the property market is recovering, the Tier One cities have been outperforming Tier Two and Three, and are expected to further strengthen in 2011, with prime property continuing to perform better than secondary.
"Relocation and upgrading are likely to underpin the bulk of demand, although with strong hiring activity in markets such as Hong Kong, Singapore, mainland China and India. Expansion demand is expected to accelerate as corporate occupiers equip themselves for future growth," according to the Global Market Perspective report from Jones Lang LaSalle.
With strong demand of commercial office spaces and high quality of new projects, how property managers plan to leverage this will be crucial: Can the organisation's real estate portfolio contribute to the bottom-line value of the company? Property managers need to know how to optimise the performance of these properties: When should one acquire, lease, divest or keep the properties for business operations?
Knowing what is happening in the market is fundamental, but knowing how other property managers are strategically planning their real estate portfolio will be an added bonus to corporate planning. Strategic Property Portfolio Management Asia will bring together regional property managers to share the latest trends in the corporate real estate market, and how they are utilising these recent developments to maximise their portfolio value and minimise cost.
For more information about the conference agenda and how to register, visit their website www.strategicpropertyportfolio.com, or drop an email to Ms. Maria Andersson at maria.andersson@iqpc.com.sg, or call +65 6722 9388.
Media contact:
International Quality and Productivity Center (IQPC)
Ms. Maria Andersson
Tel: +65-6722-9388
Email: maria.andersson@iqpc.com.sg
