Luxury Condo Rent in Thonglor

We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.

An unexpected start

Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns. Inevitably, increased reliance on e-commerce has brought about a surge in online sales and tectonic shift in consumer behaviour, with the logistics sector, consequently, playing a crucial role.

Against this backdrop, and in the context of a severe and ubiquitous threat to public health, it is critical to assess the efficacy of e-commerce logistics and the supply chain.

Developers, landlords and tenants may look to re-evaluate their operational models, focusing on how best to mitigate or at least minimise transmission in the event of another contagion scenario. Considering the extent of China’s supply chain disruption in February and March, such exercises could prove invaluable to future-proof operations.

Looking to Industry 4.0

Historically, e-commerce logistics has been labour-intensive. However, new technologies such as AI, machine learning, and the Internet of Things, collectively known as Industry 4.0, have allowed for greater automation of tasks, increased productivity, better utilisation of space, and as a by-product, reduced human physical interaction, which is a proxy for reducing viral transmission. This builds even greater impetus to embrace Industry 4.0 innovations.

Warehouse robotics

In recent times, the sector has been progressively using robots for routine or high-volume tasks, especially to sort, process, select and package items, independently and efficiently. In some cases, collaborative robots or ‘cobots’ are deployed to work alongside humans; some have goods-to-person functions that reduce human movement within facilities.

Collaborations can be more flexible and more productive, especially in cases of inventory unpredictability, where the objective is to optimise throughput whilst minimising avenues for transmission. Besides processual enhancements, robots can be utilised directly to screen for temperatures, sanitise areas and even monitor social distancing.

Beyond the warehouse

China has faced vast disruptions to its supply chains due to factory closures, which subsequently affected deliveries. Delivery automation through autonomous vehicles such as self-driving robots and drones can provide an effective end-to-end supply chain solution, with such benefits as increased parcel volume and expedited deliveries, whilst at a reduced cost; and automated vehicles would likely be exempt from transport and distribution restrictions. Furthermore, packages with built-in digital capabilities could control their own dispatch and book…

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The 65-story skyscraper at 311 South Wacker Drive in Chicago boasts magnificent views of the Chicago River, Grant Park and even Lake Michigan. However, for the owners, visibility of the building’s inner workings was more important, and more difficult to access.

To help, Zeller Realty employed a technology that exposes potential problems in the building’s HVAC systems — technology that has become exponentially more valuable during the time of COVID-19, and is often used in digital twins.

The digital twin market — the phrase used to describe a virtual copy of a physical building, combining a 3-D model of a facility with the dynamic data needed to show visualizations and analysis — is growing at hyperspeed.

And real estate is one industry that has used it to uncover value during the coronavirus pandemic. Originally developed for the aerospace industry in the 1960s, digital twins are expanding their footprint across industries due to improved Internet of Things (IoT) sensors, modeling and other technologies.

The industry is projected to be worth US$35.8 billion in 2025, compared to $3.8 billion in 2019, according to research firm MarketsandMarkets.

The team at MIT’s Real Estate Innovation Lab says the benefits of digital twins for the commercial real estate industry are many, including management of building occupancy, increased budget reliability and faster delivery in the construction realm.

According to Jim Whittaker, Engineering Services Lead at JLL, the COVID-19 pandemic is accelerating adoption, particularly in the built environment, where it’s now critical for building owners to rethink how their properties are used and managed.

“Objective and credible data has always been needed to make decisions on property portfolios and inform investment decisions,” he explains. “But, agile, scalable, and dynamic workplaces are needed now more than ever. Digital twins support these requirements by providing the data and visualizations needed to make more rapid and flexible decisions.”

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Since the onset of the COVID-19 pandemic, the real estate sector worldwide is stepping up its response to climate change and sustainable development.

At the same time, there is an increasing awareness of the environmental impact of real estate: the World Green Building Council suggests that buildings are responsible for upwards of 40% of the world’s greenhouse gas emissions. Investors, occupiers and real estate companies all have an equal responsibility to support and drive sustainable development.

With an aim to create a consistent agenda and definition, the World Green Building council in 2016 set up the Advancing Net Zero campaign. Since then, it has gained enough momentum and has come to influence actions of all stakeholders including governments, city councils, property owners, investors and occupiers alike.

New buildings are readily adopting low or zero carbon-heating solutions; however, the challenge will be retrofitting older buildings as this may require updating traditional energy systems, as well as changing internal layouts and facades.

Achieving net zero, both in operations and construction, will mean re-thinking the way we approach design and construction and introduce circularity in the planning phase because much of the future performance of a building is dictated by early decisions.

Designs that use fewer material and recycle steel and concrete where possible, positively impacts embodied carbon of a building.

Ultimately, the industry will need to recognize net zero not as a label but as a process that demonstrates the performance of a building maintained at net zero.

Thus, moving from a compliance focused to a performance-focused approach will become the key step in advancing the net zero agenda.

At JLL, we understand that a systemic response to sustainable development requires that change be introduced not only at building performance level but also across all levels of an organization, which is why our sustainability program touches not only on climate or on economic impact, but also on social impact of our assets.

Apart from measuring embodied carbon, incorporating circular economy principles and identifying investment impacts, we also recognize the link between buildings and employee well-being as a core principle of sustainable development and employ all four when we work with our clients on their sustainability and net zero journeys.

Uncovering and truthfully communicating how the buildings are really functioning is the starting point of this journey. It goes unsaid that future technologies, research and innovation will all play their role but we already have tools and solutions like integrated building analytics that help us uncover as to how optimally our buildings are operating now.

We exploit the potential of big data and new analytical approaches to enable more agile, efficient and evidence based decision-making to help our clients prioritise investment, implement practical solutions and ultimately reduce climate impacts.

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In the third quarter, the hotel sector continued to face challenges in Asia Pacific as the Delta variant infiltrates countries. Locally transmitted cases sprouted in China, impacting the market mostly led by domestic demand.

Demand remained subdued with Delta still very present

Further south, in Singapore, the rising number of new cases has led to several ‘Heightened Alerts’ and restrictions. However, demand remained relatively strong during school holidays and the Mid-Autumn festival, driven by domestic tourism.

The quarter was also marked by the partial reopening of Thailand to international visitors with the launch of the Sandbox initiative in Phuket and Koh Samui.

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New supply expected towards the end of the year

New supply remained limited in the region during the quarter, especially in markets with stricter border restrictions and controlled interstate movements such as in Hong Kong and Malaysia. We expect more supply to complete by the end of the year as owners and developers may want to coordinate the opening of the hotels with the announced reopening of borders. Meanwhile, in China, close to 3,000 keys should open by the end of 2021.

Growth in RevPAR remains driven by Chinese markets

As at YTD September 2021, the sector’s activity was mostly led by markets in China on the back of a strong domestic demand – both from the leisure and business segments. RevPAR in the country continued its impressive rise with a boost in both occupancy and ADR with the Mid-Autumn festival. In contrast, markets such as Bangkok witnessed a RevPAR decline year-on-year due to a lack of international travellers.

Growing optimism over plans of reopening borders

With higher vaccination rates, the region shows more and more confidence in reopening the borders to international travellers. Countries like Australia, Japan, Singapore and South Korea have announced to ease their quarantine measures to international travellers who are fully vaccinated by the end of the year. At the same time, we are witnessing a gradual lift of travel restrictions within the countries, like in Thailand and Malaysia, boosting domestic demand even more. With these announcements, we expect a strong rebound in tourism demand
by the end of the year and early 2022. 2021 should still depend entirely on progress with COVID-19, although some countries have adjusted their strategy to consider COVID-19 as endemic, thus learning to live with the virus.

By the end of 2021, we expect selected resort destinations to lead the demand with the roll-out of their tourism initiatives such as “Phuket Sandbox”, coupled with pent-up vaccination rates.

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Asia Pacific is leading the charge for the next generation of mobile connectivity. Major cities across the region are rolling out 5G networks this year, which are poised to reshape connectivity and big data with blazing-fast download speeds.

Hong Kong, Seoul, Sydney, Taipei, Manila, Tokyo and Shenzhen have already introduced 5G networks. In May, Bangkok became the first city in Southeast Asia to roll out a 5G network, while Singapore in August started a six-month trial.

With 1.14 billion subscribers, Asia Pacific is the largest region for 5G adoption. It could account for almost 65 percent of global 5G subscriptions by 2024, according to technology analyst GlobalData.

Governments and businesses are keen to take advantage of 5G technology. High-speed connectivity, reduced latency and greater reliability open up the potential for more widespread digitalisation of industries and allow businesses better access to the benefits of the internet of things (IoT), artificial intelligence and big data.

“In previous generations of wireless internet, download speeds were the focus because information was largely stored on individual devices,” says Kostelac. “Cloud computing has shifted this requirement to focus on more upstream bandwidth. With greater capacity, 5G networks allow exponentially more data to be collected and organised to train AI and automate more of everything humans do.”

The impact on cities

For real estate, 5G technology is among the last pieces of the jigsaw in digitalising the built environment from mere concrete to behave more like computers, says Lou Chen, Senior Director of Research, JLL China. 

“Buildings present the potential to generate massive amounts of data collected from sensors to allow for real-time monitoring, machine learning and predictive applications,” she says. “These in turn will drive buildings to be more efficient with the ability to create personalised end-user experience.”

Going beyond commercial buildings, 5G would enable IoT to be applied on a city-wide scale for more responsive homes and streets. Think automatic street lamps that light up when they sense people, or voice-controlled services for assisted living facilities.

“By using sensors, networks and applications, building owners, managers, and city authorities can gather real-time data needed to make decisions towards achieving the overall objective,” says Lou.

A survey of 150 proptech companies and 80 real estate firms in China showed that 47 percent of them plan to increase their proptech budget by up to 30 percent in the next two years, up from just over 30 percent of respondents to a 2018 poll, according to JLL.

The COVID-19 outbreak has only served to accelerate the application of 5G.

Pushing the boundaries

China, first to feel the impact of the virus, put the technology to use. 

During the height of the crisis in the country, a field hospital in Wuhan used 5G thermometers to screen visitors for fever while patients were equipped with smart bracelets that allowed medical staff to monitor their vital signs through a central platform.

The first Affiliated Hospital of Kunming Medical University in Yunnan province partnered with China Mobile to launch a 5G-based online platform to provide free COVID-19 diagnosis and treatment.

In logistics, China’s smart 5G powered warehouses allow for goods to be sorted around the clock by robotic arms and limited human involvement. 

“In the wake on…

Our world is turning fast and everything in our perfect solar system is connected with each other. For all of us, a lot has changed in the last several years. The ever-increasing industrialization and even faster-increasing global population have presented us with a slew of new issues.

Source: The OnlyOne Group – Architect Phuket Thailand

While the gap between wealthy and poor continues to widen, population growth accelerates and hunger levels rise across the world. The issues we face today are as significant as they have ever been.

Climate change is, without a doubt, one of the century’s most pressing issues. The earth is heating up, poles are melting, and we are already feeling the effects of this development all over the world due to a rising amount of carbon dioxide in the air created by millions of large companies striving to suit modern human wants. 

To address these concerns, we must establish ambitious goals and collaborate with governments and people all across the world. While natural sciences like biology, geology and ecology are main parts of tackling the issue of climate change and learning more about the impact our behaviour has on the planet, other arts and sciences like computer science, informatics, sociology and even real estate business, must be included in the research and realization of our goals. 

Every day, new technologies are released onto the market, some of which are completely worthless while others have enormous promise for society. It’s difficult to keep track of everything when confronted with so many enormous problems and so many alternative answers. However, when it comes to addressing climate change and other global challenges, the word “sustainability” comes to mind.

Housing for everybody

In every aspect of our life, we require sustainability. With an increasing population, one of the most pressing challenges is housing. However, if housing is to last the next few decades, it must be sustainable and environmentally friendly.

While wealthy Western countries like Canada and Scandinavia, for example, already have a plethora of futuristic and environmentally friendly dwelling choices, other nations like Thailand are starting their programs now in order to keep up with the goals of the world community. But what does Thailand’s way to a sustainable architecture look like? We have the answers for you!

Sustainability in residential projects

Like in many other countries in Europe and America, in Asia, sustainability has become a new focus also for residential property developments. This is particularly an urgent move at a time when the globe is facing risks from climate change and illnesses.

According to studies of the Environment and the International Energy Agency of the United Nations, the building and construction sector is one of the world’s most polluting industries. This industry alone is accounting for almost 40 percent of greenhouse gas emissions globally in 2017, the study says.

No wonder that also in Thailand the pressure on developers is increasing and new, green solutions have to be found quickly in order to keep up with the goals the international community has set to reduce carbon emissions. As the term sustainability is an extremely wide one and can refer to many subjects, it must be defined for each subject it refers to. In the world of property developers sustainability is defined as facilities that are environmentally friendly and promote the well-being of inhabitants while also being accountable to local communities.

Sustainable development in Thailand’s residential projects

Thailand is among the countries at the front line of developing towards a greener future in Asia. Whether it is landscape…

Hastily enacted regulations addressing a fast-unfolding pandemic have introduced a layer of complexity around leases between tenants and landlords.

Governments worldwide have implemented a range of emergency legal and fiscal policies to help cushion the economic damage caused by COVID-19 travel restrictions and stay-home measures.

Each jurisdiction has established its own rules, resulting in myriad policies around returning to work, rent relief and codes of conduct for payment forbearance, and for helping tenants or property owners get access to government grants and loans.

“Many of these relate in some way to either direct fiscal support or regulatory suspension of the standard legal requirements around the tenant-landlord relationship,” says Jeremy Kelly, a director in JLL Global Research.

In Singapore, for instance, the government has granted tax rebates and cash grants to landlords whose SME tenants have seen their gross income between April and June fall more than 35 percent.

In the UK, businesses in the retail, hospitality and leisure sectors are able to obtain a cash grant of up to £25,000 ($32,000) per property.

In Australia, landlords get a 25 per cent reduction in land tax liability for 2019-2020, provided this is passed on to tenants. A

cross the developed world, moratoriums on the forfeiture of commercial leases by landlords for non-payment of rent are also common.

Many of these measures are tenant-friendly. Given the current soft market conditions, tenants are arguably in a stronger negotiating position in many markets, says Kelly.

This has led to some concerns about the position of landlords. One of the issues raised by the various measures introduced to support companies through the crisis is that they have frequently involved direct financial support to tenants, or a prohibition on landlord enforcement mechanisms for collecting rent.

Risk of unintended impacts

While some countries, such as Australia, the Netherlands and Singapore, have implemented plans to help landlords, in other regions the measures have not involved commensurate support for landlords, says Kelly. “A key distinction between countries thus far has been their acknowledgement, or not, that property is embedded in a larger economic and social system.”

In advanced economies, property developers and owners are not only a significant source of government tax revenue, but they are also investors in local infrastructure and services and providers of pension benefits and jobs. Unintended financial impacts on property owners, therefore, risk much more wide-ranging effects on local communities, companies and the broader economy, says Kelly.

Nevertheless, governments’ legislative efforts in mitigating COVID-led impacts have introduced uncertainty into lease relationships. Some landlords have opted to provide rental holidays for a fixed period. Others are looking to build in repayment schedules over the remainder of a lease, while some have forgiven lease obligations entirely, particularly for smaller tenants.

“These legal changes have necessitated negotiations on how rent obligations accrued during moratorium periods will be repaid,” says Kelly.

The negotiations are dependent on the circumstances of each landlord and tenant, with landlords attempting to strike a balance between maintaining earnings and supporting tenants through the crisis period to sustain occupancy levels and income over the longer term, he said.

Real estate as part of the broader economy

As many countries struggle to contain COVID-19, the scale and scope of the changes to leases are…

The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.

This is particularly true of freelancers, start-ups and SMEs.

Demand from corporate occupiers has been more mixed. Generally, flexible space with open plan and dense centre layouts is viewed as a higher risk. But in some markets, corporates have taken additional flexible space to satisfy business continuity and disaster recovery requirements.

As corporates return to the workplace, we expect to see them continue to leverage flexible space for these purposes, as well as for split teams and de-densification requirements. Thus, companies enable their employees to work remotely in better connected and more productive workspaces compared to home.

Landlords re-think flexible space strategy

Despite varied market conditions and end-user demand across the region, the Covid-19 outbreak has put some operators under financial strain, and we expect the consolidation of a heavily fragmented sector to accelerate as a result.

This is particularly true of operators on a straight lease, rent arbitrage model who are paying top of market rents.

In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.

But we do expect them to continue using flexible space as a tool to attract and retain traditional occupiers in their buildings. Greater China may offer some insight into how landlords will respond to centre closures as operators there were making strategic adjustments to their portfolios well before the outbreak.

Surrendered space can be re-purposed and leased as fully fitted-out, turnkey space to traditional tenants. However, given current market conditions, corporates’ wait-and-see attitude and desire to avoid capex, landlords may find it difficult to backfill vacancies with traditional occupiers.

Some landlords may attempt to operate centres themselves. But landlords should be aware of potential pitfalls – flexible space is a high-touch, high-service level business which most landlords are not set up to operate. However, a few have experienced some success although it has been difficult to compete with the professionalism and service levels of experienced operators.

A third option is to bring in a new operator. When choosing this path, landlords should be mindful of the operator’s reputation – even before the outbreak, corporate end users exhibited a clear preference for operators with a stable and profitable track record.

Long-term future of flexible space remains bright

The same fundamental demand drivers that brought about the recent structural shift in occupier markets remain intact, if not reinforced, and we believe the sector will resume growing. However, we do expect to see landlord-operator agreements evolve with…

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We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.

An unexpected start

Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns. Inevitably, increased reliance on e-commerce has brought about a surge in online sales and tectonic shift in consumer behaviour, with the logistics sector, consequently, playing a crucial role.

Against this backdrop, and in the context of a severe and ubiquitous threat to public health, it is critical to assess the efficacy of e-commerce logistics and the supply chain.

Developers, landlords and tenants may look to re-evaluate their operational models, focusing on how best to mitigate or at least minimise transmission in the event of another contagion scenario. Considering the extent of China’s supply chain disruption in February and March, such exercises could prove invaluable to future-proof operations.

Looking to Industry 4.0

Historically, e-commerce logistics has been labour-intensive. However, new technologies such as AI, machine learning, and the Internet of Things, collectively known as Industry 4.0, have allowed for greater automation of tasks, increased productivity, better utilisation of space, and as a by-product, reduced human physical interaction, which is a proxy for reducing viral transmission. This builds even greater impetus to embrace Industry 4.0 innovations.

Warehouse robotics

In recent times, the sector has been progressively using robots for routine or high-volume tasks, especially to sort, process, select and package items, independently and efficiently. In some cases, collaborative robots or ‘cobots’ are deployed to work alongside humans; some have goods-to-person functions that reduce human movement within facilities.

Collaborations can be more flexible and more productive, especially in cases of inventory unpredictability, where the objective is to optimise throughput whilst minimising avenues for transmission. Besides processual enhancements, robots can be utilised directly to screen for temperatures, sanitise areas and even monitor social distancing.

Beyond the warehouse

China has faced vast disruptions to its supply chains due to factory closures, which subsequently affected deliveries. Delivery automation through autonomous vehicles such as self-driving robots and drones can provide an effective end-to-end supply chain solution, with such benefits as increased parcel volume and expedited deliveries, whilst at a reduced cost; and automated vehicles would likely be exempt from transport and distribution restrictions. Furthermore, packages with built-in digital capabilities could control their own dispatch and book…

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A direct result of COVID-19 containment measures is that organisations are taking a real-time look at the effects of prolonged off-site work and its relation to productivity.

Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.

1. Flex will become more entrenched or share a larger pie of the portfolio – Many are citing the mass work-from-home initiative as a huge experiment. Still, it is more appropriate to look at it as an inflexion point, from whereon work from home will gain more acceptance from employers. More so, because it has the potential to become much more mainstream, especially for industries and roles where the staff need only a laptop and internet connection to do all or most of their duties. Will this influence the share of flex in office portfolios in future?

   Definitely! From here on, companies will become more willing to adopt flexible working and work-from-home policies, positively influencing the demand for flex space. Besides, organisations will look for smaller and network of multiple locations operating independent of each other.

2. Buildings with wellness features will be coveted – Research on the direct linkage between buildings and occupants’ health have made both landlords and occupants increasingly aware of having wellness features in offices. Designing workplaces that promote better health among employees will gain stronger impetus.

   Green buildings are better for the planet, but the future will see healthy workplaces that are good for people too. Features related to indoor air quality, ventilation systems and other environmental factors that improve employees’ wellbeing, as well as productivity, will become the new normal.

   Urban planners across Asia already include green and healthier spaces in build environments to promote physical, mental and emotional wellbeing of their inhabitants. This trend will enter the office space directly. As a result, we will see more newly constructed buildings adhering to LEED and WELL certifications.

3. Facility management will gain higher importance – Being an all-weather team will become second nature to the facilities management professionals. They will learn from a world where all are prepared to shut down buildings overnight while ensuring no or little business discontinuity. Greater responsibility towards cleanliness and sanitisation will make disinfecting a more regular activity at the office level, especially for shared amenities like washrooms, cafés, meeting rooms, phone booths etc.
   Designing and managing facilities to control disease spread will feature as a responsibility. Similarly, decisive decision-making and faster, thorough and consistent communication will become key at the strategic level.

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