Latest news with #CBRE
South China Morning Post
18 hours ago
- Business
- South China Morning Post
Japan and Singapore show even property safe havens are not problem-free
Two findings stood out in CBRE's survey on Asia's commercial property investment market published last month. The first was that Japan alone accounted for 36 per cent of transaction volumes in the first quarter of this year. The second was that it was easily the most popular market among cross-border investors, with 86 per cent of respondents describing their level of interest in Japan as very strong or fairly strong. These findings underscore the strong appeal of a market that has long been perceived by foreign investors as a safe haven. At a time when the United States – long the safe haven of choice for global investors – has become a source of instability and unpredictability , Japan's political stability, policy predictability and the depth and liquidity of its real estate market have taken on added significance. Persistently low interest rates, the cheap yen , the return of inflation after decades of stagnation and Japan's position as an attractive alternative to China have added to its appeal among investors. Even so, there are signs that Japan has become too appealing. In the commercial property market , the weight of foreign and domestic capital targeting Japanese assets in the past several years has driven down rental yields for institutional grade properties in Tokyo to extremely low levels. Even in Osaka, a relatively illiquid market, prime office and retail yields are lower than in Seoul and Singapore, which are among the most actively traded markets in the Asia-Pacific. Low borrowing costs and higher loan-to-value ratios in Japan allow investors to earn a positive carry, which means the returns from holding an asset exceed its financing costs. However, a narrowing spread, or gap, between rental yields and government bond yields makes Japanese real estate less attractive from a pricing standpoint. Moreover, the cheap yen – down about 38 per cent against the US dollar since early 2021 – has fuelled a boom in overseas tourism . Last year, hotels accounted for 20 per cent of investment activity, up from 5 per cent in 2021, according to JLL data.
Axios
a day ago
- Business
- Axios
16th Street's reopening offers hope for downtown's future
The heart of downtown Denver is beating again — even if only temporarily — after the pandemic brought it to a standstill. The latest: A rebranded 16th Street reopened over the weekend with more than 70 vendors, bold new art installations, a World Cup climbing competition — and, most critically, crowds. Hundreds of people strolled the redesigned mile-long strip, some for the first time in years. The kickoff marked the public debut of a years-long, nearly complete $175.4 million renovation aimed at resuscitating the city's iconic corridor. Why it matters: Downtown's fate is tied to Denver's identity — and its economy. State of play: For a few days at least, optimism was in the air. "This is probably at least five times as many people as you would expect normally on a Saturday," Eric George, a Denver native who works downtown, told us. It feels like 16th Street "is on the cusp," he said, of a "vibrant" new chapter. LoHi resident Kassie Aragon — who's steered clear of 16th Street for years — called it "not-so-gloomy, really lively, young, and up-and-coming." If it stays like this, she said, "I probably will walk a lot more through here." Yes, but: The real challenge starts now to keep the energy alive beyond the fanfare. Despite falling crime rates, safety concerns on 16th Street linger. Weekday foot traffic is still down, hovering at 71%, according to the Downtown Denver Partnership. CBRE data shows downtown office vacancies have jumped to 35%, while retail vacancies remain stubbornly high at 22%, per DDP. What they're saying: "The fact is that you're not going to alleviate those concerns until you get more people back into offices," Ed Sealover, VP of strategic initiatives for the Colorado Chamber of Commerce, said last month on "Colorado Inside Out."
Hans India
3 days ago
- Business
- Hans India
Bengaluru among global tech powerhouses, says CBRE report
Bengaluru: Bengaluru, long celebrated as India's IT capital, has now earned a place among the world's top 12 technology powerhouses, according to a report by global real estate consulting firm CBRE. The report, titled Global Tech Talent Guidebook 2025, reveals that the city has surpassed 1 million tech professionals — making it one of the largest tech talent hubs in the Asia-Pacific region, alongside Beijing and Shanghai. The report evaluates 115 global markets based on the availability, quality, and cost of tech talent. These markets are categorized into three groups: Powerhouses (12 major hubs with deep and competitive talent pools), Established (63 mature markets with steady pipelines), and Emerging (40 growth-focused markets with development potential). Bengaluru has been ranked among the elite 'Powerhouse' category, joining the likes of Beijing, Boston, London, New York Metro, Paris, San Francisco Bay Area, Seattle, Shanghai, Singapore, Tokyo, and Toronto. CBRE highlights Bengaluru's vast and growing tech workforce as a key factor for its global recognition. With over 1 million tech professionals, the city has become a leading destination for innovation, digital transformation, and artificial intelligence. 'Bengaluru's emergence as a global tech superpower reflects India's strategic depth in digital innovation, AI readiness, and talent capability,' said Anshuman Magazine, Chairman and CEO of CBRE for India, Southeast Asia, West Asia, and Africa. He further added that other Indian cities like Delhi-NCR, Mumbai, Ahmedabad, and Jaipur are also witnessing positive trends. These cities are contributing uniquely to India's diverse and resilient tech ecosystem — a strong indicator of the maturing Indian market. The report also notes that Bengaluru has the highest number of professionals specializing in artificial intelligence (AI) in India — putting it on par with established U.S. tech clusters like San Francisco and New York.
Times of Oman
3 days ago
- Business
- Times of Oman
Bengaluru joins global tech elite with 1 million-strong workforce: CBRE report
New Delhi: In a resounding affirmation of India's ascent in the global digital economy, the city of Bengaluru has achieved a historic milestone. CBRE's Global Tech Talent Guidebook 2025 highlights that Bengaluru, often dubbed the "Silicon Valley of India," has officially joined the ranks of elite global technology powerhouses with a tech workforce exceeding 1 million. This landmark development places the city alongside global giants such as the San Francisco Bay Area, New York, and London, underscoring its rising influence in the global tech landscape. The recognition from CBRE, one of the world's leading commercial real estate and investment firms, is a major endorsement of Bengaluru's role as a transformative force in the tech world. With a robust ecosystem of startups, multinational firms, research institutions, and a highly skilled talent base, Bengaluru exemplifies the dynamism and potential of India's broader tech revolution. A testament to India's tech potential Bengaluru's achievement reflects the strength of India's tech ecosystem, which has evolved remarkably over the last two decades. The city has consistently been a magnet for domestic and international firms seeking talent, innovation, and scalability. With the number of tech professionals now crossing the one million mark, Bengaluru has not just grown in size but matured in sophistication. The CBRE report emphasises that this scale of growth is matched by the city's ability to adapt to evolving global technology trends. From artificial intelligence and machine learning to cloud computing, fintech, and enterprise solutions, Bengaluru is home to cutting-edge innovation across all major domains of the digital economy. A vibrant innovation ecosystem One of Bengaluru's greatest strengths lies in its vibrant and collaborative tech ecosystem. The city is home to a large number of startups—many of which have achieved unicorn status—as well as global tech giants such as Google, Microsoft, Amazon, and Intel, all of which have established significant operations in the city. India's largest software services exporters, including Infosys and Wipro, also have their headquarters in Bengaluru. These firms continue to evolve and scale, providing high-value services to global clients and investing significantly in upskilling their workforce and investing in research and development. In addition to corporate giants, Bengaluru is known for its thriving startup culture. The city has produced some of India's most successful tech startups—like Flipkart, Swiggy, Razorpay, and Freshworks—that have grown to become global players. The support ecosystem—comprising venture capital firms, incubators, and accelerators—has played a crucial role in nurturing innovation and entrepreneurship. A young, skilled, and diverse talent pool One of the driving forces behind Bengaluru's rise to global prominence is its immense talent pool. The city is home to premier institutions such as the Indian Institute of Science (IISc), Indian Institute of Management Bangalore (IIMB), and numerous engineering colleges that feed the tech industry with top-tier talent year after year. The workforce in Bengaluru is not only large but also diverse and future-ready. With a median age far younger than many Western tech hubs, Bengaluru benefits from a dynamic demographic profile that fuels innovation, risk-taking, and digital fluency. Increasing numbers of professionals are trained in next-gen technologies, enabling the city to stay at the forefront of rapid technological change. Moreover, the city has increasingly become attractive to talent from across India and the world, contributing to a cosmopolitan work culture that values collaboration, agility, and continuous learning. World-class infrastructure and connectivity Bengaluru's development as a tech hub has also been supported by strong infrastructure and policy initiatives. The presence of numerous tech parks such as Electronic City, Whitefield, and Manyata Tech Park, along with Special Economic Zones (SEZs), has provided world-class facilities to enterprises of all sizes. The city's improved public transportation network, including the expansion of the Namma Metro, growing international connectivity via the Kempegowda International Airport, and the development of suburban rail and tech corridors, further strengthens its appeal as a global business destination. Additionally, Karnataka's state government has played a supportive role in enhancing the ease of doing business, encouraging innovation, and facilitating foreign investments through proactive policies. Initiatives like the Karnataka Digital Economy Mission (KDEM) aim to double the state's digital economy and create millions of jobs, with Bengaluru as the cornerstone of that vision. A preferred global technology hub CBRE's Global Tech Talent Guidebook 2025 positions Bengaluru as a premier destination not just for Indian firms but also for global companies looking to expand or establish their technology operations. The city offers a unique combination of scale, skill, and cost-effectiveness that few other global destinations can match. Bengaluru's competitive cost of operations, coupled with a high return on innovation investment, makes it particularly attractive in an era where enterprises are increasingly focused on value creation and efficiency. The city's proficiency in both back-end services and front-line innovation makes it a one-stop destination for end-to-end technology development. Furthermore, Bengaluru's global mindset—shaped by decades of working with international clients—enables seamless collaboration across borders. The prevalence of English as the business language, a strong legal framework, and robust intellectual property protection further enhance its global appeal. A future-ready city As the world embraces the Fourth Industrial Revolution, Bengaluru is positioning itself as a future-ready city. Investments in emerging areas such as quantum computing, space tech, clean energy, and sustainable innovation are beginning to take root in the city's rapidly evolving tech ecosystem. Educational institutions, corporate R&D centres, and public-private partnerships are driving frontier research, while the city's young entrepreneurs are tackling global challenges through technology-driven solutions. Government initiatives to promote skilling in AI, data science, blockchain, and cybersecurity are preparing the workforce for the jobs of tomorrow. Importantly, the rise of remote and hybrid work models has not diminished Bengaluru's relevance. On the contrary, it has made the city an even more attractive destination for digital-first companies that value a tech-savvy, distributed workforce. Bengaluru's global tech moment Bengaluru's entry into the league of global tech powerhouses with over 1 million professionals is a moment of immense pride—not just for the city, but for India as a whole. It is a testament to decades of hard work, strategic investments, and a culture that embraces innovation and excellence. As highlighted in CBRE's Global Tech Talent Guidebook 2025, Bengaluru's rise is not a coincidence—it is the result of sustained momentum built on a foundation of talent, infrastructure, vision, and resilience. The city's tech workforce is powering not only Indian enterprises but also contributing to transformative solutions across the globe. With its eyes firmly set on the future, Bengaluru is not just keeping pace with the world—it is helping shape it.
CTV News
3 days ago
- Business
- CTV News
Group looking for buyers for Sault mall ‘excited' about the opportunity
While it's been a tough few years for the Station Mall in Sault Ste. Marie, the real estate group seeking buyers says it's an attractive property for many prospective owners. While it's been a tough few years for the Station Mall in Sault Ste. Marie, the real estate group seeking buyers says it's an attractive property for many prospective owners. Since 2017, the mall lost two of its anchor tenants – Walmart and Sears – and struggled with many other malls as shoppers worldwide increasingly went online, particularly during the COVID-19 pandemic. sears Liquidation sales begin at 54 locations across the country, including at the Station Mall in Sault Ste. Marie. A sale to SM Holdings in June 2022 for $30 million floundered when the group failed to pay $18 million of a take-back mortgage due in June 2024 to Algoma Central Corp., the original mall owners dating back to the 1970s. 'A court order imposed a deadline of Jan. 16, 2025, for the full mortgage amount, including accrued interest, to be paid,' Algoma Central said in an update to shareholders. 'The repayment deadline was not met and the court has ordered commencement of receivership proceedings to recoup the mortgage.' B. Reilly Farber was appointed receiver. In turn, it selected CBRE, a commercial real estate firm, to take the lead in lining up potential buyers for the mall. Station Mall has around 475,000 square feet of space that can be leased on 35 acres of downtown property on the waterfront along the St. Marys River. Station Mall announced $60M redevelopment In an interview with CTV News, CBRE vice-chairman Mike Czestochowski said while building new commercial properties right now is a major challenge because of costs, finding buyers for older retail is a much easier sell. Properties such as the Station Mall are more attractive because the infrastructure is in good condition. 'All that's happened has strengthened older retail,' Czestochowski said. 'The mall itself is in really good shape. It's being managed by CBRE and when we walked through it, I was pleasantly surprised at how good everything looked -- it's in really good shape.' The mall also has zoning in place to allow for redevelopment opportunities, including residential and commercial uses. Lauren White, an executive vice-president with CBRE, said the property has been on the market for a couple of weeks. 'We haven't set an offer date yet – we'll probably do that in the coming weeks,' White said. 'It's early in the process, but we are happy with the level of activity so far.' 'The mall itself is in really good shape. It's being managed by CBRE and when we walked through it, I was pleasantly surprised at how good everything looked -- it's in really good shape.' — CBRE vice-chairman Mike Czestochowski Once an agreement is in place, she said the sale would have to receive court approval. Czestochowski said that usually the likely buyer emerges as the process unfolds. 'In most cases, it's pretty clear,' he said. 'By the time you go through the process, multiple rounds of offers, generally, someone stands out. By the end of it, we know who is best suited and is one to pay the best price for the mall.' Currently, almost 54 per cent of the mall is vacant, but that figure is largely driven by the absence of the two anchor tenants, Sears and Walmart. Czestochowski said when dealing with potential tenants, it's often easier to rent large spaces than smaller ones. 'When I see big chunks of empty space, I'm not as worried – I'm more worried about 1,000 square feet than I am about 50,000 square feet,' he said. 'Fifty thousand doesn't come along very often. So the tenants that would fill that space … really take note when space like this comes up in a mall that's so well located.' Station Mall The owners of Station Mall in Sault Ste. Marie are keeping tight-lipped about their plans for the former Sears store. (Mike McDonald/CTV News) While CBRE wouldn't sign leases on behalf of the mall, they are speaking with potential tenants about the opportunity to lease. 'We're not as concerned about that vacant space,' Czestochowski said. 'We feel that with proper marketing and discussions, we can fill it.' White added that they're having ongoing discussions with potential tenants interested in the Station Mall. And Sean Comiskey, a senior vice-president with CBRE, said with strong ownership in place, he's confident in the mall's prospects. 'Tenants, you know, in the past may not have liked the partnership and therefore may have bypassed the space for another piece of space in the market,' Comiskey said. 'With a good operator in place. We don't see this vacancy lasting too long.' For his part, Czestochowski said they are happy to have the opportunity to help revive the mall. The company has a history in the Sault, and on a personal level, he has family who live in the city. 'I can tell you, when I got the call from the receiver to put forth a proposal, I was excited,' he said. 'I knew that it would generate a lot of interest … So at this point, we're very happy with the activity level and we're happy to have the listing.'
