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MARKETS & INVESTING | Cesar Tordesillas, Hong Kong
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Report: HK among top 3 retail property investment destinations in Asia

Pacific Star Group listed Hong Kong among the top three destinations in the region for retail property investment long with Singapore and Kuala Lumpur.

 

One of Asia's leading real estate investment houses, Pacific Star says commercial properties in Asia will continue to do well in the second half of 2011, and within the commercial sector, its top pick is retail real estate.

The group's Senior Vice President and Head of Research and Strategic Planning Leslie Chua said Hong Kong was supported by tourist spending especially from outbound mainland Chinese visitors.

"Singapore likewise is enjoying a surge in visitors attracted especially to its integrated resorts," he said. ""Over in Malaysia, domestic factors are at play. Strong wage growth and positive retail sentiment have boosted retail spending and real estate fundamentals in Kuala Lumpur," he added, based on thier group's biannual Asia Property Outlook and Strategy report

According to the report which highlights its key investment themes in regional real estate markets, the shine of Asian real estate environment continues despite greater global uncertainty, as it is supported by favourable economic fundamentals and positive consumer sentiment in most markets.

Pacific Star's top destination for office property investment is Singapore. Singapore continues to exhibit strong fundamentals in several key drivers including services outlook, political stability, and ease of doing business.

The biannual Pacific Star Asia Property Outlook and Strategy report surveys Bangkok, Beijing, Ho Chi Minh, Hong Kong, Kuala Lumpur, Seoul, Shanghai, Singapore and Tokyo.

The full story is available at Bernama News.

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