"Logistics demand held up well during the COVID period due to operators refocusing on regional supply chain. Nevertheless, the sector faces many uncertainties in 2023 despite border reopening, with declining merchandise trades, slower-thanexpected retail recovery as well as the prolonged closure of borders diverting supply chains away from Hong Kong among the key issues facing the local logistics sector."

"The effect of the first store economy continues to ferment, attracting more new brands to open in Shenzhen, which is second to none in South China."

"As the expansion of major department store groups has intensified market competition, exclusive dining brands, flagship stores, and online retailers opening physical stores are strategies being adopted a win market share."

"Chennai’s remarkable ascent to the third place in India’s office leasing markets is owing to a dynamic real estate landscape which has played a pivotal role in the country’s commercial office sector growth."

"With robust growth in online retail sales and the expansion of quickcommerce in the open-market sector, the imbalance between supply and demand is expected to be gradually addressed after 2025. "

"Despite strong ongoing macroeconomic headwinds, Lahore’s residential market has grown steadily on the back of strong population growth, rural to urban migration, and interest from both owner occupiers and investors, resulting in steady demand for centrally located developments with high quality finishing and amenities."

"The government, prior to the 2024 policy address, announced substantial changes to Macau’s real estate policy. These modifications focus on two main areas: the elimination of the additional 5% stamp duty for second residential property purchases and the dissolution of the mortgage percentage for local residents in favor of a unified mortgage limit of 70%."

"Metro Manila’s post-pandemic office scene is slowly regaining momentum, with developers focusing on introducing more certified green buildings. Older buildings need to remain competitive, forcing landlords to adapt and invest in strategies that align with changing priorities."

"In contrast to recent historical experience, price growth for units could potentially outperform houses in the coming years, as the discount for units coupled with strong rental growth and the ongoing demandsupply imbalance for apartments drives stronger capital growth."

"Thailand welcomed 7.2 million visitors in Q3, and this was reflected in the performance of Thai hotel operators and the broader economy."