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Cushman & Wakefield Interpretation Report Highlights Five Areas of Opportunity for Real Estate SectorsHONG KONG SAR - Media OutReach Newswire - 12 March 2025 - Global real estate services firm Cushman & Wakefield has released its China's Two Sessions 2025: Interpreting the Government Work Report publication. The new study examines China's economic development goals and policy directions for 2025 as outlined in the Report on the Work of the Government delivered by premier Li Qing, and highlights five key government tasks that will impact China's commercial real estate market. Sabrina Wei, Cushman & Wakefield's Chief Policy Analyst and Head of Research, North China, said, "We should note that 2025 is the final year of the current Five-Year Plan period. In the objectives and policy measures stated in the new Government Work Report we see a focus on stabilizing expectations, expanding domestic demand, and accelerating green transition. As well, targets to implement more proactive fiscal policy, scientific and technological innovation, and revitalization of assets all inject new structural opportunities into commercial real estate." Boosting Consumption to Promote Retail Industry Expansion and Upgrading The Government Work Report lists "vigorously boosting consumption" as the foremost major task for 2025. Given the uncertain external environment, tapping consumption potential and boosting domestic demand are viewed as crucial strategies to drive economic growth and to restore China's economy to sustained healthy growth. China's retail market is currently undergoing a period of change, where consumer pursuit of quality, social interaction, personalization and experience is becoming the mainstream. These demands are mandating retail operators to continue to grow and upgrade consumption scenarios. Additionally, the expansion of infrastructure REITs to include consumer infrastructure has greatly stimulated investor interest in the retail industry. According to Cushman & Wakefield, commercial retail projects' share of total real estate investment volume grew from 10% in 2023 to 14.85% in 2024 (Figure 1), and this trend is expected to further continue in 2025. Figure 1: Comparison of property transaction volume by sector in the Chinese mainland capital market, 2023–2024 New Productive Forces and Technological Innovation to Aid Structural Recovery in Office Demand The Government Work Report emphasizes the continued development of emerging industries such as commercial aerospace and the low-altitude economy, as well as the cultivation of future industries including biomanufacturing, quantum technology, AI, and 6G technology. The value of the low-altitude economy, for example, is forecast to reach RMB850 billion in 2025, with an average annual growth rate of more than 30%. China's high-tech industry has also begun to play a leading role on the global stage, with investors re-examining the value of Chinese technology companies. In the capital market, starting from the end of 2024, the performance of China's top ten technology companies has been notable. The stock price of China's top ten technology companies has grown by 57.39% from the end of 2023, as at the end of February 2025 (Figure 2). Figure 2: Stock price growth trends of China's top ten technology companies and the seven American giants (base as at the end of 2023) Over the past two years, downward economic pressures have led to a drop in office leasing demand across the Chinese mainland. Office rents have fallen, and vacancy rates have risen in many cities. The government's renewed efforts to promote development of the "platform economy" can effectively drive new employment and expand consumption. In turn, this will support growth in demand for office premises and industrial parks. In addition, in May 2024, the State Financial Supervision and Administration Bureau issued the Guidance on Banking and Insurance Industries Doing a Good Job in the Five Financial Tasks, which emphasized strengthening financial support for major national technological goals as well as for small and medium-sized technology enterprises. Cushman & Wakefield expects that office demand in the Chinese mainland through 2025 will grow compared to 2024, with office rental levels in some cities bottoming out and stabilizing in the second half of the year. Special-Purpose Bonds to Accelerate Market Stabilization and Reactivation of Existing Assets This year's Government Work Report includes "ensure stability in the real estate market and the stock market" in the overall requirements and policy orientations for economic and social development. The detailed discussion on the real estate sector remains in the objective titled "Preventing and Defusing Risks in Key Areas." Key points regarding real estate include continuing efforts to stabilize the property market, adjusting restrictive measures according to local conditions, accelerating the renovation of urban villages and older housing, and fully releasing potential demand for first homes and improved housing. The Government Work Report sets the allocation of local government special-purpose bonds at RMB4.4 trillion, an increase of RMB500 billion on last year. The funds raised from these special-purpose bonds are to be used for investment construction, land acquisitions and reserves, and the acquisition of existing unsold housing, as well as resolving local government arrears to enterprises. This policy signals a significant expansion in fiscal expenditure. Local governments' use of special bond funds to acquire developer land and completed projects is seen as key to restoring normalcy in the real estate market. Guangdong Province has taken the lead in the bond project, issuing RMB30.7 billion in land reserve special bonds to repurchase idle land. As at February 22, the first batch of projects planned for idle land recovery exceeded 220 sites, with a total planned reserve price of more than RMB43 billion. The model may be promoted nationwide. This will help to revitalize inefficient land use, effectively alleviate the financial pressure of real estate companies, reduce market supply, and stabilize housing market prices. Additionally, the repurposing of reserved land can be optimized for urban land use. As the government pays greater attention to the commercial office market, developers are expected to increase efforts to revitalize and renovate unfinished office buildings, together with older and inefficient office properties constructed in non-core areas. These measures are expected to partially ease supply pressures in the commercial office market. Encouraging Foreign Investment to Lift En-Bloc Property Market Activity The Government Work Report reiterates the need to promote orderly opening up in the internet and cultural sectors, expand opening up pilots in telecommunications, healthcare, and education, encourage foreign investors to increase reinvestment, and support participation in upstream and downstream industrial chain collaboration. Ministry of Industry and Information Technology data reveals that, by the end of 2024, 2,343 foreign enterprises had been approved to operate telecommunications businesses in China. Additionally, the 2025 China Business Environment Survey Report from the American Chamber of Commerce in China shows that nearly 70% of consumer industry respondents expect to increase investment in China in 2025. This reflects multinational companies' general willingness and confidence in continuing to invest in and to deepen their presence in China. Accelerating the Green Transformation Brings ESG to the Center of Asset Value The 2025 Government Work Report outlines a blueprint for China's high-quality development, providing a clear development path for corporate ESG practices and innovation. Against the backdrop of low-carbon transformation, practicing ESG concepts to form the core competitiveness of enterprises is a strategic choice to further promote sustainable and high-quality development. Sabrina Wei, Cushman & Wakefield's Chief Policy Analyst and Head of Research, North China, added, "The 2025 Government Work Report will focus development strategies on the long-term transformation of China's national economy, rather than short-term risk responses. In the light of uncertainty in the external environment, the Chinese government has expanded fiscal and monetary support. The 'dual engines' of consumption combined with scientific and technological innovation will drive the recovery of the overall commercial real estate market. We expect the retail sector to directly benefit from policy dividends, while office and industrial park demand will gradually stabilize, and overall market activity should recommence growth. Asset revitalization and comprehensive management capabilities will be key to overcoming cyclical challenges." Please click here to download the full report (Chinese language).Hashtag: #Cushman&WakefieldThe issuer is solely responsible for the content of this announcement.About Cushman & WakefieldCushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
HONG KONG SAR - Media OutReach Newswire - 24 April 2025 - Cushman & Wakefield, a leading global real estate services firm, today released its New Kids on the Block: Generation Z and the Changing Office Workplace on the Chinese Mainland report. This report analyses the evolving needs of the "new kids on the block", Generation Z, on the Chinese mainland and their implications for the office workplace in the region. Survey data included in the report reveals Chinese Generation Z's priorities of flexibility, collaboration, and sustainability. Additionally, this report emphasises the importance of optimising office spaces to attract and retain the Chinese Generation Z demographic, using Cushman & Wakefield's Experience per Square Foot (XSF) metric as a key performance indicator. Finally, four included case studies illustrate successful workplace strategies on the Chinese mainland, offering actionable insights for organisations seeking to create appealing and productive work environments for Generation Z in the same region. An Important Demographic The "new kids on the block", or Generation Z, on the Chinese mainland are an increasingly important demographic in the region. Generation Z on the Chinese mainland are a unique cohort, having been shaped by economic growth, the one-child policy, and the rise of the Internet. As the office-based Generation Z employee cohort grows in number and significance on the Chinese mainland, so CRE practitioners will have to deepen their office workplace change management and office workplace strategy on this generation to ensure the office workplace is fully optimised for the future. Questionnaire Survey: What proportion of your organisation's current office-based workforce on the Chinese mainland fall within the Generation Z age group? Source: Cushman & Wakefield Research Needs Alignment – Crucial Generation Z on the Chinese mainland look for collaboration, and a strong organisational culture. They seek office workplaces that promote wellbeing and inclusivity. According to our survey and Figure 16, "flexibility and a work-life balance", "personalisation, comfort and the promotion of a sense of belonging" and "meaningful work and purpose" are the top three priorities cited by CRE practitioner respondents that are best catered to by their organisation's office workplace on the Chinese mainland. Questionnaire Survey: Looking at the priorities that Generation Z generally value, which priorities do you feel your organisation's office workplace on the Chinese mainland caters to best? Source: Cushman & Wakefield Research Gaps Present Our survey of corporate real estate (CRE) practitioners on the Chinese mainland and their perceptions on current and future office workplace optimisation for Generation Z in the region, revealed significant gaps between existing office working conditions and Generation Z expectations. The returned information and data underscores the urgency for organisations on the Chinese mainland to adapt their office workplaces and implement strategies that align with the evolving needs of the Generation Z demographic. Questionnaire Survey: Looking to the future, what changes will your organisation look to make to ensure your office workplace on the Chinese mainland is appealing/even more appealing to your organisation's Generation Z employees? Source: Cushman & Wakefield Research XSF – A Value-Add Tool Cushman & Wakefield's Experience per Square Foot (XSF) is a key metric for evaluating office workplace experience. In simple terms, XSF measures employee experience, wellbeing, and performance, while also defining the office workplace's role within the occupier's unique office workplace ecosystem. Lastly, office workplace strategy case studies that Cushman & Wakefield have worked on, on the Chinese mainland, clearly illustrate how XSF can be used to guide strategic decisions, improve employee wellbeing, enhance employee productivity, and ultimately optimise the office workplace for our clients in the region, including their Generation Z employee cohort. Johnathan Wei, President, Project & Occupier Services, China, said, "To align with Generation Z's unique characteristics and their expectations in the modern work environment on the Chinese mainland, office workplaces in the region need to integrate technology and create spaces that foster connection, wellbeing, sustainability and productivity." Lois Yang, Senior Associate Director, Workplace Strategy & Change Management, Occupier Services, China, said, "Organisations on the Chinese mainland should explore a workplace ecology that links people, purpose and place to better meet the needs of Generation Z in the region. Also, the strategies need to be implemented via a systematic approach in order to create the workplace that helps attract and retain talent." Shaun Brodie, Head of Research Content, Greater China, said, "Generation Z are digitally fluent; they desire flexibility, a work-life balance and have a strong focus on sustainability and social responsibility. Understanding these traits is crucial to curate the appropriate office workplace experience for this demographic. Through enhanced experience, this office workplace will not only be engaging and alluring to Generation Z talent but will also be that much more productive." Please click here to download the full report. Hashtag: #Cushman&WakefieldThe issuer is solely responsible for the content of this announcement.About Cushman & WakefieldCushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
- New Bayside Location Where Guests Can Be Themselves, Lounge to Satisfy Their Intellectual Curiosity - TOKYO, April 24, 2025 /PRNewswire/ -- ANA Holiday Inn Tokyo Bay, located in Shinagawa Ward, Tokyo, celebrates its grand opening on April 24, 2025. The concept of ANA Holiday Inn Tokyo Bay, the latest hotel by Holiday Inn, which is an essential brand of IHG Hotels & Resorts, is a "new travel that lets you be yourself." The Shinagawa/Tennozu area, where city and sea meet, is easily accessible from both within Japan and overseas, and is a location that suits many travel styles, including Tokyo sightseeing, business trips, and short weekend stays. ANA Holiday Inn Tokyo Bay Exterior: https://cdn.kyodonewsprwire.jp/prwfile/release/M107856/202504187605/_prw_PI5fl_UFbNXYNU.jpg With a total of 132 guest rooms, ANA Holiday Inn Tokyo Bay seeks to offer every guest opportunities to relax, focus on work, or simply step away from everyday routine, while also catering to each guest's "present" so that the guests can spend their time as suits them best. Adding to the warmth and comfort that Holiday Inn is known for, the design of the open lobby creates a modern and pleasant space that ensures an unforgettable experience for all guests. It is somewhere that can flexibly accommodate all guest needs, when dining, relaxing, working, and enjoying themselves. Furthermore, the hotel offers Kids Stay & Eat Free, which lets children under 12 years old stay and eat at no cost, as well as the tranquil Library Lounge, an around-the-clock snack and drink counter, a fitness center, a laundry service, and other facilities to make long-term stays more comfortable, thereby supporting all types of travel. The guest rooms on the higher floors, from the 23rd through the 27th, offer expansive and open views. Guests will find the Bay View Rooms with a view of the Rainbow Bridge as well as the Canal View Rooms with an atmospheric view of the city highways and waterways extending into the distance. The rooms are calming spaces that harmonize natural colors and soft lighting, featuring spacious beds, functional workspaces and much more, thus combining comfort and practicality. ANA Holiday Inn Tokyo Bay offers a variety of room types to suit all kinds of situations, from solo traveling to family stays. Guest Room: https://cdn.kyodonewsprwire.jp/prwfile/release/M107856/202504187605/_prw_PI7fl_gTlAQaDq.jpg The Library Lounge, stimulating guests' intellectual curiosity Located on the hotel's first floor, the Library Lounge features a wide selection of comics and books, manifesting a space that stimulates intellectual playfulness. In particular, the comic corner, an embodiment of Japanese culture, supports three languages: Japanese, English, and Chinese, which makes it an attractive space that is enjoyable for overseas guests too. The lounge serves a mixed Japanese-Western breakfast buffet in the morning and then functions as a cafe for casual drinks and snacks during the day. All seats also have an electrical outlet and free Wi-Fi, making it an ideal environment for remote work and online meetings. The warm interior and stylish design help the guests forget the bustle of the city and facilitate moments of comfort. Breakfast Buffet: https://cdn.kyodonewsprwire.jp/prwfile/release/M107856/202504187605/_prw_PI8fl_6570Y0fY.jpg Banquet rooms that can be used in countless ways The hotel features five banquet rooms on the 3rd, 28th, and 29th floors. From corporate events to private parties, ANA Holiday Inn Tokyo Bay offers spaces that can meet all needs, including the sophisticated and elegant Golden Palm with a ceiling height of 5.5 m, the Ocean Bloom offering a panoramic view of Tokyo Bay, and the Crystal Cove on the top floor. Banquet Room Ocean Bloom: https://cdn.kyodonewsprwire.jp/prwfile/release/M107856/202504187605/_prw_PI6fl_MYKxaUZa.jpg ANA Holiday Inn Tokyo Bay offers a comfortable stay that is unique to the Holiday Inn brand, with heartwarming service that creates experiences and pleasant moments on the bayside that brighten visitors' travel memories. About ANA Holiday Inn Tokyo Bay: https://kyodonewsprwire.jp/attach/202504187605-O1-z2I2xxI6.pdf Address: 2-3-15 Higashishinagawa, Shinagawa Ward, Tokyo
Single operating model across APAC and EMEA provides scale and balance of services across both regions supporting growth, and offering clients better global connectivity and access to talentHONG KONG SAR - Media OutReach Newswire - 22 April 2025 - Cushman & Wakefield (NYSE: CWK) announced today the appointment of Matthew Bouw as Chief Executive, APAC & EMEA, effective from 1 May 2025. In this new role, he will oversee a single operating model across both regions providing the scale and balance of services to drive growth and offer clients better global connectivity and access to talent. Bouw brings a wealth of experience to this role, which includes leading and successfully growing the APAC region as Chief Executive since 2017. During his 13 years with Cushman & Wakefield, he has also held global executive positions based in the Chicago office, including Global Chief Administrative Officer and Global Chief HR & Strategy Officer. In these roles, Bouw was intimately involved in the merger of the firm's legacy organizations in 2014-15, as well as the process to acquire DTZ back in 2011. Prior to joining Cushman & Wakefield, he worked across a variety of industries and for several large global companies, including PwC, Aviva, Orica, Leighton and UGL. Bouw will relocate to London to focus on the growth of both regions. As part of this planned transition, Colin Wilson will step down as Chief Executive, EMEA, and leave the organization to pursue the next chapter in his career. He will continue in an advisory role to ensure an orderly transition of responsibilities. His immeasurable contributions to the company and the EMEA region in particular have been widely recognized and impactful over his 29 years with the firm. Operating under a single, cohesive strategy, the combined business will benefit from: Greater flexibility to prioritize investments and resources across key geographies, sectors and services A unified strategy on key initiatives around data, technology and transformation An ability to leverage its top talent across regions An opportunity to scale best practices from both regions; and to drive key initiatives focused on cross selling, sales enablement and effectiveness "Matthew is a proven, visionary leader with over 30 years of experience in building and growing successful businesses. He steps into this critical role as we continue to accelerate growth and help our clients solve problems through exceptional advice and execution of services across geographies," said Andew McDonald, Global President & Chief Operating Officer, Cushman & Wakefield. "I am confident in Matthew's leadership and look forward to seeing the growth and scale this combined business will deliver to our clients." Matthew Bouw, Incoming Chief Executive, APAC & EMEA, Cushman & Wakefield, said: "It is a huge honor to take on this new role, which presents an incredible opportunity to harness our complementary strengths in each region to accelerate the growth of our business and to further enhance the advice, solutions and services we deliver for our clients every day." Hashtag: #Cushman&WakefieldThe issuer is solely responsible for the content of this announcement.About Cushman & WakefieldCushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
NEW YORK, April 21, 2025 /PRNewswire/ -- Ocean West Capital Partners ("Ocean West") led the successful UCC foreclosure of 285 Madison Avenue last week, a 511,000 square-foot office property primely located in Midtown Manhattan near Grand Central Terminal. Ocean West represented the mezzanine lender, which was comprised of a consortium of some of the largest insurance companies in South Korea. KOREAN LENDERS AND OCEAN WEST CAPITAL PARTNERS FORECLOSE ON MIDTOWN MANHATTAN OFFICE BUILDING While the property remains well leased and in one of the top performing submarkets in the U.S., Midtown Manhattan, the loan fell into maturity default in late 2022. Originally the loan was extended to provide time for recovery, but it came back into default in late 2024 when the extension expired. Ocean West was brought in at this time to serve as advisor to the Korea-based mezzanine lender and evaluate various debt recovery strategies. With Manhattan office leasing trends improving dramatically and increased investment activity in the market, the mezzanine lender concluded that its strongest course of action was to exercise its foreclosure rights and invest new capital to take control of the property. Ocean West will remain involved throughout the investment hold period to oversee the asset. "We believe that the quality of the building, the vibrancy of the market, and our cost basis will provide a strong opportunity to enhance cashflows and create value over time," indicated Ryan Tucker, Principal at Ocean West. The property boasts a desirable Madison Avenue address just one block from Grand Central Terminal, and during a recent renovation, over $80 million was invested in the property to fully modernize the building and enhance the amenity program, which includes a rooftop deck and event space, conferencing center, and onsite gym. The acquisition of 285 Madison through UCC foreclosure is part of more than $2 billion of New York City assets upon which Ocean West has either acquired or advised upon for Korean institutional investors in the past 12 months. "We have seen a change in tenor from the Korean lending community whereby they have become more aggressive in protecting assets located in strong markets. These investors represent some of the largest insurance companies and pension funds in the world, who have capital to execute a wide variety of strategies", said Phil Choi, Principal and Co-Founder of Ocean West. DLA Piper LLP represented the mezzanine lender throughout the process and was instrumental in formulating and executing the foreclosure strategy. Newmark managed the UCC auction marketing process, and Daol Asset Management served as the Korean investment advisor for this transaction. For office leasing inquiries, please contact Daniel Levine (daniel.levine@nmrk.com) and Dylan Weisman (dylan.weisman@nmrk.com) at Newmark. For retail leasing inquiries, please contact Adam Weinblatt (adam.weinblatt@nmrk.com) and Jason Pruger (jason.pruger@nmrk.com) at Newmark. Ocean West Capital Partners is a full-service real estate investment and management platform dedicated to identifying and executing opportunities that create long-term value for its partners and investors. Since its founding in 2010, Ocean West has acquired and operated industrial, office, and residential investments, completing over $8.5 billion in commercial real estate transactions. For press information please contact John Weiss, 213-784-1131, jweiss@oceanwestcp.com Photo - https://mma.prnasia.com/media2/2668713/Ocean_West_Capital_Partners_Manhattan.jpg?p=medium600
Stable Real Estate Recovery and Steady Growth in the New Economy SHENZHEN, China, April 17, 2025 /PRNewswire/ -- The PHBS Think Tank at Peking University HSBC Business School released its Macroeconomic Analysis Report for the First Quarter of 2025, highlighting a strong start to the year for the Chinese economy. In January and February, production exceeded expectations, and the cumulative trade surplus reached a historical high for the period. However, consumption and investment grew at a slower pace. The report outlines four key macroeconomic trends from the first quarter: Real Estate Market Stabilizes with Policy SupportPolicy-driven measures have helped stabilize the real estate sector, with major markets showing signs of gradual recovery. Positive Feedback Loop in Auto ExportsInvestment, production, and expectations in overseas automobile markets reinforced each other in a positive cycle. Based on available data, leading enterprises remained optimistic about the impact of tariffs on new energy vehicles. Support for the Development of New EconomyDomestic industrial policies supported investment, production, and retail in sectors such as electronics and transport equipment, helping sustain a growth cycle in new economy. Rush to Export, with Tariff Uncertainty AheadA surge in exports drove temporary growth in labor-intensive goods and home appliance production. However, this momentum faces risks from future U.S. tariffs. Many enterprises have already taken steps to mitigate potential disruptions. Looking ahead to the first half of 2025, GDP growth is projected to reach 5.0%. Export pressure may intensify in Q2 2025, and current policies may not be strong enough to significantly boost consumption. The real estate market is expected to continue its steady recovery, while manufacturers will likely expand their use of automation and smart technologies to reduce costs. The report offers several policy recommendations: strengthen support for enterprises expanding globally through vertical specialization; boost the effectiveness of fiscal policies to stimulate consumption; ensure this year's land reserve special bond issuance reaches at least 700 billion yuan; and accelerate fiscal and tax reforms to address structural unemployment driven by technological change.
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