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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.
16:59
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Quick takeaways
- The significant downturn in Hong Kong's commercial real estate sector emphasizes the need for conservative asset revaluations and self-investment strategies from companies like Hang Lung Properties.
- Analysts are closely monitoring Chinese government policies to assess their potential impact on consumer spending and the broader recovery of the retail sector post-Lunar New Year.
Deep dives
Current State of Hong Kong's Commercial Real Estate
Hong Kong's commercial real estate sector is experiencing one of its most severe downturns, with revaluations playing a significant role in the 25% drop in annual profit reported by local firms. Adriel Chan from Hong Long Properties emphasized the importance of taking a conservative approach to asset revaluation amid these challenges. The weaknesses span across sectors, particularly with office spaces showing considerable softness in both Hong Kong and mainland China. However, there are signs of resilience in the retail sector, as foot traffic is increasing despite overall declines in sales.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode