CBRE Korea, a global commercial real estate service company, held its “CBRE Forum 2018” to share insights on commercial real estate market trends in the Asia-Pacific region this morning at the Four Seasons Hotel in Seoul.
Over 200 real estate investors and industry experts, including Ben Duncan, CEO of CBRE North Asia, attended the forum, which explained key themes shaping the commercial real estate market in 2018 and beyond. The event included presentations by Dr. Henry Chin, head of research, CBRE APAC, on the “2018 Asia Pacific Real Estate Market Outlook” and Claire Choi, head of research, CBRE Korea, on “How Technology is Reshaping the Real Estate Industry.” Panel discussions on “Retail Placemaking” and “The Impact of Co-working Spaces on the Seoul Office Market” featured representatives from the Daewoo Foundation, AmorePacific, WeWork, GE Korea and CBRE Global Investors.
“Co-working has really surprised us in terms of how quickly it has exploded onto the scene. It’s importance stems from the energy, culture and collaboration opportunities that come from being amongst a network of like-minded businesses and individuals,” said Darren Krakowiak, Managing Director, CBRE Korea, in his opening remarks. “According to our recent research, co-working operators now make up 1.2% of the space in Grade A and B office buildings in Seoul. Given they are predominantly in the Gangnam Business District and have a limited presence in the Central Business District and Yeouido, the proportion of space they occupy can be expected to grow markedly by this time next year.”
At the forum, CBRE Korea covered successful placemaking case studies such as the Seoullo Terrace (formerly the Daewoo Foundation Building) and the new AmorePacific headquarters in Yongsan, where transformative retail strategies have increased asset value.
Newly launched this year, the CBRE Forum 2018 is being held in 13 cities across the Asia-Pacific region to discuss key topics in the commercial real estate market from an occupier, developer and investor perspective.