Capital Markets Forum

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2019 ULI Asia Pacific Capital Markets Forum Report

As Asia’s real estate markets continue to develop rapidly, the line between mature and emerging markets is becoming increasingly blurred, making it ever more important for investors to focus on cities. As one delegate put it, “There’s a new language and new vocabulary with regard to emerging sectors and emerging asset classes.”

Read the report from the 2019 ULI Asia Pacific Capital Markets Forum, sponsored by JLL and held in Shanghai as part of the ULI Asia Pacific Summit. It drew around 80 leading executives from the world of real estate capital markets and investing for a closed-door session to brainstorm a range of issues facing the industry.

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2018 ULI Asia Pacific Capital Markets Forum Report

Fear freezes markets, but ignorance is what kills. That was the conclusion from institutional investors and asset managers who gathered in Hong Kong to discuss current trends and assess the health of the fi nancial markets at the Urban Land Institute’s Asia Pacific 2018 Capital Markets Forum.

Overconfidence is the key concern among investors in Asia after a strong bull run economically, as one economist noted. He cited Michael Lewis and his book about the financial crisis, The Big Short, as advice worth heeding. “It ain’t what you don’t know that kills you; it’s what you know for sure that just ain’t so.”

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2017 ULI Asia Pacific Capital Markets Forum Report

While Asian property investors continue to struggle with longstanding issues of too much capital and too little supply, the consensus among forum participants was that long-term prospects across the region remain generally – and perhaps surprisingly – positive. According to an analysis of industry fundamentals presented at the opening of the forum, rents in most markets remain on an uptrend, fuelled by high salaries and ongoing demographic change. In addition, recently strong economic data helped boost demand for space. China, for example, recorded year-on-year growth in gross domestic product (GDP) of 6.9 per cent in the first quarter of 2017; Japan, 1.4 per cent (its best return in years); and Australia, 1.7 percent.

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2016 ULI Asia Pacific Capital Markets Forum Report

Ongoing turbulence in the global economy has done little to stem the flood of new capital targeting Asian real estate, the product of huge amounts of institutional liquidity on the one hand and chronically low returns for other asset classes on the other. The implications of this buildup of new capital provided the backdrop for this year’s ULI Asia Pacific Capital Markets Forum, held in Shanghai in June, where investors discussed issues ranging from the impact of e-commerce on the industry and the explosive growth of outbound cross-border investments to strategies adopted by investors to cope with currently high levels of systemic risk.

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2014 ULI Asia Pacific Capital Markets Forum Report

As ever-growing volumes of capital continue to chase a limited pool of real estate assets, investors across the globe are moving up the risk curve in search of yield. The fierce competition to place capital is reflected in the main themes discussed in this year’s Capital Markets Forum in Hong Kong, with new money from Asia driving prices higher in gateway cities in Europe and the United States, and pushing investors to test new strategies in secondary markets and asset classes.

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