Global Real Estate News
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Keep abreast of the latest global real estate news across 7 continents that impacts on your business.
DTZ: 200,000 square metres of new high-end retail space to be opened in Nanjing in 3Q15
According to DTZ’a Property Times, two major high-end retail projects should open in Nanjing in 2H15. These are Jiangning Golden Eagle Square and Jinmaohui Plaza, which will boost supply by 200,000 square metres. As of the end of 2Q15, total stock of high end retail space in downtown Nanjing was just under 940,000 square metres....
Read more.DTZ: High-end retail rents in Nanjing up 5.5% in 2Q15
According to DTZ’s Property Times, rents for high-end retail properties rose in Nanjing by 5.5% to CNY37.1/square metre/ day in 2Q15. No new prime projects were added in the main retail districts of Nanjing. LV Group’s skin care brand Fresh, took up space in Nanjing Deji Plaza at the end of June. DTZ notes that Victoria’s Secret is expected to open its first store in Jiangsu province in Aqua City....
Read more.DTZ: High-end retail rents in Shanghai down 0.5% in 2Q15
According to DTZ’s Property Times, rents for high-end retail properties slipped in Shanghai by 0.5% to CNY63.7/ square metre/ day in 2Q15. New supply during the period was just 60,000 square metres (Shanghai New World Daimaru on Nanjing East Road). The total stock is just over 2.3mn square metres – across five sub-markets (Lujiazui, Nanjing East Road, Huaihai Middle Road, Nanjing West Road and Xujiahui....
Read more.DTZ: Office rents to remain soft in Hangzhou in 3Q15
According to DTZ’s Property Times, large quantities of new grade A office space should become available in Hangzhou through 3Q15, with the result that the overall vacancy rate rises by 2-4 percentage points from the current 16.0%. Office rents fell by 0.9% to CNY4.5/square metre/ day in 2Q15 and are expected to slip further. DTZ is looking for yields to remain between 5.0% and 5.3%....
Read more.DTZ: 30,000 square metres of new grade A office space in Hangzhou in 2Q15
According to DTZ’s Property Times, 30,000 square metres of grade A office space were completed in Hangzhou in 2Q15. The total stock across five sub-markets – Huanglong, Wulin, Qingchun, Qianjiang New City and ‘other’ is just under 2.2mn square metres. The overall vacancy rate was 16%, although it ranged between 9.6% in Qingchun to 58.8% in the ‘other’ sub-market....
Read more.DTZ: Grade A office rentals to remain stable in Nanjing over coming year.
According to DTZ’s Property Times, the average grade A rental across all sub-markets in Nanjing fell by 0.2% to CNY4.3 per square metre per day in 2Q15. Because of a sizeable fall in the supply of new office space that is expected to become available in the coming two years, rents are expected by DTZ to remain broadly stable. DTZ also thinks that investor sentiment will remain positive over the coming months....
Read more.DTZ: 283,000 square metres of new grade A office space in Nanjing in 2Q15
According to DTZ’s Property Times, 283,000 square metres of grade A office space were completed in Nanjing in 2Q15. The total stock across four sub-markets – Xuanwu, Gulou, Qinhuai and Jianye – is just over 1.6mn square metres. The overall vacancy rate was 23.9%, although this figure was inflated by the 53.8% vacancy rate in the Jianye sub-market. Conversely, the vacancy rate in the Qinhuai sub-market is just 5.3%....
Read more.DTZ: 775,000 square metres of new grade A offices space to come in Shanghai in 3Q15
According to DTZ’s Property Times, an additional 770,000 square metres of Grade A office space is due to come on line in Shanghai through 3Q15. Further new supply over the next two years could, according to DTZ, contribute to a softening in rents, which fell by 0.3% in 2Q15. Across all six sub-markets in Shanghai, average rents were CNY8.8/ square metre/ day....
Read more.DTZ: 175,000 square metres of new grade A office space in Shanghai in 2Q15
According to DTZ’s Property Times, 175,000 square metres of grade A office space were completed in Shanghai in 2Q15. The total stock across six sub-markets – Jing’an, New Huangpu, Xuhui, Pudong, Changning and ‘other’ is just over 7.2mn square metres. The overall vacancy rate was 8.2%, although it ranged in the various sub-markets from 4.5% in Jing’an to 16.6% in the ‘other’ submarket....
Read more.ECLAC: San Juan 11th busiest container port in Latin America and Caribbean in 2014.
According to the Economic Commission for Latin America and the Caribbean (ECLAC), the total volume of containers handled through 120 ports in the region rose by 1.3% in calendar 2014 to around 47mn TEUs. The increase followed gains of 5.8% in 1.7% in 2013, 5.8% in 2012 and 13.8% in 2011. San Juan, Puerto Rico, was the 11th busiest container port by this measure, handling just over 1.3mn TEU in 2014....
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