Return to our Home page Search
Click here for the hotel and hospitality news from around the globe Hotel, Travel and Hospitality Articles Videos and in-depth Interviews
CONCIERGE DESK
Read more now
The emergence of Asian supertalls.
Monday, 7th July 2014
Source : CBRE Asia Pacific Research
Within Asia, a high density of tall buildings is viewed as being synonymous with being a successful financial hub;

A number of cities have pursued a 'build and they will come' strategy as a means to establish themselves as a financial centre or to reposition their economy.
 
In Asia, occupiers opt to lease space in supertall office buildings primarily because of the benefits afforded by their positive image and branding, building quality and prime location.

These key differentiators enable supertall office buildings to command a rental premium of as much as 10 - 40% above the average Grade A rent in the same submarket.
 
Occupiers in the financial services sector are the major tenants of supertall office buildings across the region, accounting for around 55% of total occupied space. Business services and legal firms are the other key users, accounting for 16% of total occupied space.
 
The development pipeline of tall office buildings in emerging markets in Asia is significant. Several tier II cities in China account for almost 47% of the total new supply of tall office buildings set to be completed worldwide within the next five years. This is leading to growing concern of oversupply.
 
The “build and they will come” strategy adopted by many emerging financial centres in Asia in recent years has been largely unsuccessful. The reality is that there are far more important success factors such as the business environment, legal and tax systems, market transparency, political stability, government efficiency, telecommunications and transport infrastructure, capital flows, human capital and reputational factors such as innovation.

4Hoteliers Image Library

www.cbre.com.hk

Learn more about DigiJames - in room technology
 Related News  (Click title to read article)



 Latest News  (Click title to read article)




 Latest Articles  (Click title to read)




 Most Read Articles  (Click title to read)




~ Important Notice ~
Articles appearing on 4Hoteliers contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.

© Copyright 4Hoteliers 2001-2014 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here

Use of this web site is subject to our
terms & conditions of service and privacy policy