Bloomberg Daybreak: Asia Edition A Look at the APAC Real Estate Sector
Jan 27, 2025
Adriel Chan, Chair and Executive Director of Hang Lung Properties, shares insights on Hong Kong's commercial real estate challenges, emphasizing cautious asset revaluations. Michael Dyer, Investment Director at M&G Investments, analyzes a significant downturn in the broader APAC market, noting a 25% drop in annual profits. They discuss the impact of Chinese government measures on consumer spending, emerging buyer's market opportunities, and the strategic responses of banks in South Korea amid economic uncertainties.
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Hong Kong Real Estate Slump
- Hong Kong's commercial real estate sector is experiencing a significant slump, impacting valuations.
- Hang Lung Properties has adopted a conservative approach to revaluations amidst market changes.
Invest During Downturn
- Invest in improvements during a downturn, as Hang Lung Properties is doing with mall upgrades.
- This strategy leverages lower sales periods to enhance competitiveness and physical assets.
Focus on Core Competency
- Hang Lung Properties, despite interest in data centers, chooses to focus on retail.
- They prioritize their core competency in high-touch, human interaction retail experiences.