Malaysia Hotline: +603- 2141 8908
The
establishment of the Association of South East Nations (ASEAN) as a single
market by the end of 2015 will benefit the industrial sectors of member
countries, with some positive spill over for the office and retail markets,
according to CBRE’s latest Viewpoint Research Report.
In
CBRE’s latest Viewpoint Research Report, ASEAN Economic Community – A Boost to
South East Asia’s Real Estate Market, CBRE Research expects a ramp-up in the
demand and supply of industrial and office space in most ASEAN markets in the
short to medium term as more Small and Medium Enterprises (SMEs) and
multi-national companies (MNCs) establish themselves in the region.
In
particular, the logistics market is expected to grow and develop in ASEAN given
the strong emphasis under the AEC blueprint for infrastructure development and
the gradual elimination of Non-Tariff Barriers across member countries.
The
lift in the industrial market will in turn bolster the growth in office demand
too as more MNCs enter the market and more regional SMEs expand. In particular,
the financial and legal services sectors in emerging markets could grow on the
back of rising infrastructure development and the proposed liberalization of
the region’s capital markets.
More
foreign retailers are also projected to venture into ASEAN, building on the
momentum they have charted in the last few years. Tourism is a bright spot for
ASEAN member countries as the AEC blueprint focuses on enhancing air and land
transport infrastructure and regional cooperation to attract more visitors to
the region.
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