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CoreNet Global Asia Pacific Summit 2014 to lead discussions on growing office demand in Asia Pacific

Recently released JLL Offices 2020 report highlights changing face of Asian CBDs.  CoreNet Global survey reveals that more than half (52%) of global respondents would locate to Southeast Asia over the next two years.


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SINGAPORE, 20 March 2014 – In less than five days, global corporate real estate leaders from multinational organisations will convene in Singapore for the CoreNet Global Asia Pacific (APAC) Summit 2014. 

The Summit, which runs from 24 March – 27 March, coincides with the release of a recent report from global real estate services consultancy JLL, which revealed that Asia Pacific will take a larger share of global office demand in the coming years and cities will grow at an unprecedented pace. More world-class companies will look to locate divisional and global headquarters in Asia Pacific and investors will be encouraged to increase their portfolio allocations to the region as it increases its share of global output.

A snapshot survey on corporate real estate trends in Asia conducted by CoreNet Global in February supported the report’s findings, and found that more than half (52%) of global respondents would locate facilities to Southeast Asia over the next two years, with over 60% to developing economies including Jakarta, Kuala Lumpur and China.

39% of respondents said Singapore was most receptive to economic development and facilitating new office locations, followed by 25% who preferred Hong Kong. 91% of total respondents said Singapore remains an attractive destination to locate a new office. 

The JLL report predicted that Asian cities will look very different by 2020, and said the surge in demand will lead to rapid decentralisation out of traditional city centres across Asia, as lower rents and new facilities in alternative CBDs, business parks and peripheral centres lure occupiers away from traditional central locations.

Jeremy Sheldon, JLL Head of Markets for Asia Pacific said: “Five years ago if you had asked a Singaporean for directions to the CBD, he likely would have pointed you in the direction of Raffles Place. In Hong Kong you would have headed to Central, in Tokyo to Marunouchi. Today Asia’s city centres are more difficult to pin down and by 2020 a wave of micro- and satellite CBDs has the potential to completely change Asia’s urban map.”
CoreNet Global Chief Executive Officer Angela Cain said: “The corporate real estate landscape in Asia is evolving and people are seeing significant opportunities in the region for business expansion and access to growth markets. However, as the market shifts and expands there are increasing challenges around costs, operations, sustainability and location strategy to name a few; these concerns and potential solutions will be at the centre of the debate at this year’s CoreNet Global Summit.” 

The Summit will attract more than 500 delegates to discuss the increasing relevance of corporate real estate (CRE) strategy as well as opportunities and challenges facing businesses relocating to Asia. Representatives will hail from global institutions across the consumer, banking and financial services, real estate and energy sector including: DBS Bank; Deutsche Bank; ANZ Banking Group; HSBC; Shell; Procter & Gamble; Unilever and Siemens.

The Summit will feature individual sessions across key domains such as Enterprise Leadership; Location Strategy and the Role of Place; Partnering with Key Support Functions; Portfolio Optimisation and Asset Management; Service Delivery and Outsourcing; Sustainability; Technology Tools and Workplace and their impact on the Asia Pacific region.

For more information, please visit http://www.corenetglobal.org/Events/SingaporeSummit2014/index.cfm 

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Notes to editors: 

Survey Methodology
The survey was conducted among 35 of CoreNet Global’s end-user membership base in February 2014.

About JLL’s Offices 2020 report
What will the office landscape look like in 2020? 

JLL​​ aims to answer this crucial question through a suite of reports that explore trends affecting office real estate in six cities across Asia Pacific, including Hong Kong, Mumbai, Shanghai, Singapore, Sydney and Tokyo. 

These forward looking insights have been distilled from roundtable discussions with over 40 industry experts throughout the region. 


About CoreNet Global 

CoreNet Global is the world’s leading association for corporate real estate (CRE) and workplace professionals, service providers and economic developers with over 8,000 members worldwide from Fortune 100 and Forbes Global 2000 companies. CoreNet Global's mission is to advance the effectiveness of Corporate Real Estate professionals in delivering value to corporations through the strategic management of corporate real estate and workplace resources.

About JLL
JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.

JLL has over 50 years of experience in Asia Pacific, with over 27,500 employees operating in 80 offices in 15 countries across the region. The firm was named ‘Best Property Consultancy’ in three Asia Pacific countries at the International Property Awards Asia Pacific 2013, and won nine Asia Pacific awards in the Euromoney Real Estate Awards 2013. www.jll.com/asiapacific