International News
UN Predicts Global Economy Down to 2.4% in 2024, Inflation Rises to Above 10% for Developing Countries
In a pivotal economic report, the United Nations projects a slowdown in global economic growth to 2.4% by 2024, down from the estimated 2.7% in 2023, underscoring challenges surpassing earlier expectations. Both figures remain below the pre-pandemic 3% growth rate prevalent before the 19-year epidemic in 2020, according to VOA on 9 January 2024. The […]
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ASEAN Tourism Rankings 2023: Malaysia Takes the Lead, Thailand Secures Second Spot, Followed by Vietnam
Southeast Asia experienced a stellar revival in its tourism sector throughout 2023, with Malaysia emerging as the frontrunner in welcoming international visitors, boasting an impressive 26 million foreign tourist arrivals from January to November. Following closely, Thailand welcomed approximately 24.6 million tourists during the same period, underscoring the robust rebound of its tourism sector. Vietnam […]
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Thai International Hospitality Giants Set to Make Global Impact in 2024
The resurgence of global tourism has propelled Thai hospitality powerhouses to venture beyond domestic boundaries, seizing opportunities in thriving international destinations. The preceding year witnessed robust profitability for many hotel management firms, with several surpassing pre-pandemic average daily room rates, particularly in prime global locations, according to the Bangkok Post on 2 January 2024. Minor […]
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Economists Project China’s Economic Landscape in 2024 to Fall to 4.6%
As China’s economic trajectory undergoes shifts, economists anticipate a moderated growth of 4.6% in 2024, following an anticipated 5.2% expansion this year. This projection comes against the backdrop of a sluggish real estate market and tepid consumption. With 23 experts expecting this year’s growth to align closely with Beijing’s target of approximately 5%. According to […]
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CBRE’s Head of Research Hints Real Estate Market Recovery Time
Investment caution is rippling through the Asia-Pacific real estate market, from Singapore to South Korea, as investors tread carefully amidst concerns over rising interest rates and geopolitical instability. Market data from JLL, a leading commercial real estate and investment management company, reveals a 22% year-on-year decline in commercial real estate investment activity in the Asia-Pacific […]
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Aeon’s Strategic Leap: Revolutionising Logistics with AI Precision
In a groundbreaking move set to redefine the landscape of Japanese retail logistics, Aeon, the prominent retail group, is embarking on an ambitious overhaul of its logistics operations. The initiative, slated for implementation next spring across approximately 3,300 domestic stores, is a proactive response to the impending legal restrictions on driver overtime, set to take […]
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2024 Outlook: Regional Experts Projects Emerging Risks & Opportunities in Asia-Pacific Real Estate Market
As we approach 2024, the Asia-Pacific real estate scene is evolving amid emerging market realities. Investors are strategically focusing on resilience, delving into a complex yet promising market for astute opportunities. This is according to regional experts at Asian Investor, who provided a joint analysis on 19 December 2023. Market Insights: Valuations are settling, and […]
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JCER Warns of Impending Real Estate Crisis Impacting China & 17 Other Countries by 2027
Amidst mounting concerns over China’s real estate market, the Japan Centre for Economic Research (JCER) has sounded an alarm, cautioning that a potential burst of the property bubble could severely impede the nation’s economic growth. The repercussions of Beijing’s response to the property debt crisis could reach far and wide, with implications for the ambitious […]
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PropertyGuru Asia Real Estate Summit concludes ninth edition, focusing on ‘Powering Communities’
GLOBAL THOUGHT AND INDUSTRY LEADERS JOINED THIS YEAR’S SUMMIT TO TACKLE THE FUTURE OF CITIES PropertyGuru Asia Real Estate Summit (ARES), the thought leadership platform of PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company, held its highly anticipated ninth edition featuring global thought and industry leaders, focusing on the theme, “Powering Communities”, and […]
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Chinese bankrupt Evergrande sells 30% stake to state-owned company to pay off debt
In response to the complex dynamics in China’s property sector, Evergrande, the globally renowned real estate developer, has taken a strategic step by selling its 30% stake in the Shanghai North Bund Project to state-owned China Everbright Group. The move, disclosed in a statement to the Hong Kong Exchange, is valued at 663.15 million yuan […]
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