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Recognize the highest potential of your retail asset or portfolio with our full range of real estate services.

​​​​​​​​​​The JLL retail business line is the most experienced international retail consulting, leasing and management service provider to operate in Greater China. We offer a specialised and focused service geared towards delivering results through market knowledge and experience.

We deliver value to our clients through the application of international retail best practices tailored to suit local markets. This ensures maximum returns for retail developers and landlords as well as prime locations for retailers.

A retail-focused approach is essential to maximise the value that you receive not only in the short term, but importantly, over the long term.

Our clients receive the highest levels of expertise, processes, systems and sophistication in operating their retail ventures and expanding into new and emerging markets across Greater China.

Our management expertise covers all aspects of the retail lifecycle, including concept, planning, design, property management, shopping centre management and leasing services.

Our scope of services includes:

  • consultancy

  • development management

  • leasing

  • shopping centre management​​

 

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JLL: Changing real estate landscape with a series of government measures/macau/en-gb/news/315/macau-mid-year-review-1h18JLL: Changing real estate landscape with a series of government measures<p> <strong>Macau and Hong Kong, 18</strong><strong><sup>th</sup></strong><strong> July 2018</strong> – Macau's economy and gaming sector remained stable in 1H18.  The implementation of regulatory measures on the residential market in February significantly curbed property speculations and the market was dominated by first-time home buyers, according to <strong>JLL</strong> in its <strong> <em>Macau Mid-year Property Review 2018</em></strong><strong><em>.</em></strong></p><p> </p><p>According to the statistics released by the DICJ, Macau's gaming revenue recorded at MOP 150.22 billion in 1H18, up 18.9% y-o-y, continuing its uptrend that seen in 2017.  In fact, the city's gaming revenue have recorded monthly y-o-y growth for 23 consecutive months since August 2016.  The VIP and mass markets saw y-o-y growth of 21.0% and 19.9% respectively in their revenues in the first quarter this year, with VIP market accounting for 56.1% of the total gaming revenue, a similar ratio as in 2017.</p><p> </p><p>Macau's GDP recorded at MOP 103.06 billion in the first quarter of 2018, representing a y-o-y growth of 9.2%.  The expenditure-based GDP showed that the growth was mainly driven by the gaming-related export of services that grew by 15.9% y-o-y and made up 86.1% of Macau's total GDP.  During the quarter, the performance of other components of the city's GDP varied.  Private consumption expenditure and government consumption expenditure rose by 4.8% and 2.2% y-o-y respectively, while fixed capital formation fell 1.9% y-o-y.</p><p> </p><p>During the first five months of 2018, Macau's total visitor arrivals reached 14,211,000, up 7.8% y-o-y.  The growth was mainly driven by the increase in Mainland visitors, which rose by 13.2% y-o-y. Visitors from Mainland China were still the majority of Macau's visitor arrivals, making up 70.0% of the total, and out of which 50.0% visited Macau under the Individual Traveller Scheme (ITS).  The supply of hotel rooms in Macau totalled 37,900, of which 23,700 were five-star hotel rooms.  As of May 2018, the cumulative occupancy rate of hotel rooms in Macau recorded at 89.3%, while the average length of stay of guests remained unchanged at 1.5 nights.</p><p> </p><p>The labour market in Macau remained broadly stable in 1H18.  According to the DSEC statistics, the unemployment rate maintained at 1.9% while the overall median monthly income rose to MOP 16,000 as of the end of the first quarter.  The number of imported labour in Macau increased slightly to 181,723 as of end May, up 1.3% from end 2017. The total resident deposit in Macau rose to MOP 588.32 billion as of end May 2018, up 2.0% comparing with end 2017. </p><p> </p><p>"Macau's overall economy performed well in 1H18, with all real estate sectors registering positive growth or showing improvement.  However, with the Monetary Authority of Macao raising the base rate in June, the investment market is expected to become cautious though mortgage rate has not been increased right after. Under the global economic uncertainty and with the potential interest rate hikes, we expect the growth of property prices in Macau will slow down a bit in 2H18," says <strong>Mark Wong, Senior Manager, Valuation Advisory Services at JLL Macau</strong>.<br></p><p> <br> </p><p> <span lang="EN-US" style="text-decoration:underline;"> <strong>Residential</strong></span></p><p>The total residential sales transaction volume in Macau continued to grow in 1H18, as potential buyers tried to enter the market before the implementation of the residential regulatory measures that the government announced in February.  According to the DSF statistics, a total of 6,790 residential sales transactions were registered in 1H18, up 16.0% y-o-y.  It's worth to note that the number of transactions in the single month of January reached 1,986, equivalent to a surge of 207.9% y-o-y.</p><p> </p><p>Many developers launched their projects for sale before the implementation of the new regulatory measures.  During 1H18, a total of 2,513 pre-sale transactions were recorded, accounting for more than 37.0% of the total residential transaction volume.  The ratio is far higher than the yearly average of about 20% in the past few years.  In 1H18, more than eight pre-sale projects and new completions were launched.</p><p> </p><p>With the launch of several new residential developments, the capital values for high-end and mass-to-medium residential properties rose by 3.5% and 7.8% respectively in 1H18 when comparing with end 2017, while yields were recorded at 1.5% and 1.7% respectively.</p><p> </p><p>In the leasing market, supported by the increase in the number of imported labour in 1H18 and the improved performance of the gaming sector's VIP market, as well as the rising rentals in NAPE and Taipa areas, the rental values for high-end and mass-to-medium residential properties grew by 9.9% and 8.6% respectively comparing with end 2017.</p><p> </p><p>"The residential market in Macau has long been facing the problem of undersupply.  During the past five years, on average about 3,946 cases of marriage registration were recorded each year while only about 2,576 residential units were completed.  From the perspective of demand from the newly married couples, supply is inadequate.  In fact, the government has been trying to curb investment demand in the residential market by implementing a series of regulatory policies, e.g. the spicy measure that was announced in February this year has already led to a contraction in the ratio of speculative transactions (applicable to those buyers who are already holding at least one residential unit) from about 30% in 2017 to currently not more than 4%.  The transactions recorded in the residential market was dominated by first-time home buyers. The policy has effectively curbed the speculative trend in the market, however, it's hard to lead to a fall in property prices due to the significant demand-supply imbalance," comments <strong>Jeff Wong, Head of Residential at JLL Macau</strong>.</p><p> </p><p> <span lang="EN-US" style="text-decoration:underline;"> <strong>Office</strong></span></p><p>The office market in Macau remained broadly stable in 1H18.  During the first five months of 2018, the total number of new incorporations registered in Macau was 2,582, up 14.5% y-o-y.  Growth was seen in most of the industries.</p><p> </p><p>The leasing market recovered a bit in 1H18 with the improved economic conditions and business sentiment.  According to JLL Macau Office Index, the rental values for the overall office market and Grade A office market grew by 5.4% and 5.3% y-o-y respectively in 1H18.</p><p> </p><p>For the sales market, a total of 169 office transactions were registered in the first five months of 2018 as shown by the DSEC statistics, up 17.4% y-o-y.  The capital values for the overall office market and Grade A offices rose by 5.9% and 7.3% y-o-y respectively, underpinned by the active investment sentiment.  Office supply remained low, with the overall office vacancy rate maintained at 8% throughout 1H18.  The yields for the overall office market and Grade A office market recorded at 2.7% and 2.6% respectively.</p><p> <br> </p><p>"Macau's economy performed well in 1H18.  As supply of office properties continued to be limited, while some landlords decided to take back their premises for self-use upon expiry of the existing tenancies, we expect to see an increasing number of office relocation activities.  It will be particularly the case for those Grade A offices located on the periphery of Nam Van District," says <strong>Oliver Tong</strong><strong>, Head of Retail and Markets at JLL Macau</strong>.</p><p> </p><p> <span lang="EN-US" style="text-decoration:underline;"> <strong>Retail</strong></span></p><p>According to the DSEC statistics, the total retail sales grew by 25.7% y-o-y in the first quarter of 2018 to MOP 20.74 billion.  All of the retail categories in general registered growth.  The retail sales of communication equipment soared by 119.2% while other trades mostly recorded y-o-y growth of over 30%.</p><p> </p><p>In the sales market, the number of retail units transacted in the first five months of 2018 totalled 334, up 20.6% y-o-y.  A few notable real estate transactions were recorded in 1H18 and mostly were from the retail market.  For example, a retail centre redevelopment in Rua da Sé and the shops in the commercial podium of The Carat were sold for about HK$800 million and HK$1.4 billion respectively.  According to JLL Macau Retail Index, the overall retail capital values remained stable when comparing with end 2017 while overall retail rental values fell slightly by 2.7%.  The yields for the overall retail market stood at 1.8% as of June 2018.</p><p> </p><p>"The outlook of the overall retail market is positive. Some of the shop units in Centro which were vacant in 2017 have been occupied by tenants from different trades including sportswear and accessories, shoes and cosmetics.  The number of enquiries about high street shops and retail space in shopping centres in prime locations have increased significantly.  In the past most of the enquiries were from the active retailers operating within the same areas.  However, recently we received an increasing number of enquiries from new entrants from different countries like Malaysia, Singapore and Korea, mainly from the F&B and experiential entertainment sectors," says <strong>Oliver Tong</strong>.</p><p> </p><p>"The market is expected to see new retail supply, as a major shopping centre in Taipa will be launched for lease shortly while some of the retail malls in Cotai will be repositioned.  The completion of Grand Lisboa Palace, Galaxy Entertainment Group's Phases 3&4 and Phase 2 of Studio City in the future will also add new supply to the city.  We expect retail rentals in Macau will remain stable in the short term," adds Oliver.</p><p> </p><p> <span lang="EN-US" style="text-decoration:underline;"> <strong>Conclusion</strong></span></p><p>"The government implemented a series of real estate regulatory measures in 1H18, including the introduction of a new stamp duty rule on acquisitions of second properties and above, relaxation of mortgage lending ratio for young Macau residents who are first-time buyers, and cancellation of the exemption status of leased housing with reference to vacant residential property tax.  At the same time, the ordinance on real estate leasing has also become effective.  The government is now actively working on its urban planning process, and the tender for the urban renewal research consultancy project is also in progress.  All of these measures will help promote a healthy long-term development of the real estate market in Macau," comments <strong>Gregory Ku, Managing Director at JLL Macau</strong>.</p><p> </p><p>"In the latest JLL Global Real Estate Transparency Index report that published this year, Macau was among the top 10 movers and appeared in the Semi-Transparent tier for the first time. The progress in Macau's ranking is mainly attributable to the government's crackdown on money laundering as well as efforts in releasing detailed residential transaction statistics on a monthly basis, and enforcement of new leasing regulations.  We look forward to increased availability of real estate information to the public in the future," adds Gregory Ku.<br></p><p> <br></p><p> <br> </p><p> <img src="/macau/en-gb/PublishingImages/Lists/News/AllItems/AP-HK-CM-News-Mid-Year-Review-2018-0710-Image.jpg" alt="AP-HK-CM-News-Mid-Year-Review-2018-0710-Image.jpg" style="margin:5px;" /> <br> </p><p>From left to right:</p><p>Jeff Wong, Head of Residential Macau; Oliver Tong, Head of Retail and Markets Macau; Gregory Ku, Managing Director, Macau; and Mark Wong, Senior Manager, Valuation Advisory Services Macau<br></p><p> <br> </p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88
China12: A New Era for Chinese Cities/china/en-gb/news/650/china12-china-cities-go-globalChina12: A New Era for Chinese Cities<p><span style="font-size:18px;">​</span><em style="font-size:18px;"><strong>Latest in JLL series of reports on Chinese cities highlights an elite group's rise on the international stage</strong></em><br></p><p style="text-align:justify;"><strong>BEIJING, 18 April 2018</strong> – This week sees the release of the latest research report on Chinese cities by JLL (NYSE:JLL). The study<em>, </em><a href="http://www.joneslanglasalle.com.cn/china/en-gb/china12-china-cities-report?utm_source=china-site&utm_medium=organic&utm_campaign=ccgg&utm_content=news" target="_blank"><em>China12: China's Cities Go Global</em></a>, examines a dozen mainland cities and their transformation into major hubs of innovation and global interaction. The report is the fifth instalment of the Chinese Cities series, in which JLL has charted the rise and development of China's key urban centres in research publications spanning over a decade. <br></p><p style="text-align:justify;">"For our latest report in this series we chose to focus on what we see as China's future global cities" says <strong>KK Fung, Managing Director of JLL Greater China</strong>. "The China12 are at the forefront of the transition to an innovation economy and are home to a growing breed of energetic tech-savvy businesses that will spearhead the next wave of China's globalisation. By combining international experience with in-depth knowledge of local markets, JLL is able to give a unique perspective on China's twelve leading cities and their competitive position in the global marketplace." </p><p style="text-align:justify;"><strong>Future Proofing</strong></p><p style="text-align:justify;">The report centres around how the twelve cities compare against each other, before proceeding to look at where they fit in to the global picture. <strong>JLL </strong>carried out this comparison using not only traditional metrics such as size, wealth, growth, and connectivity, but also what are outlined as 'future proofing' metrics. These represent the factors which will be important for Chinese cities in the next stage of their development, and fall into nine categories such as Talent, Innovation, Livability, and Real Estate Transparency. </p><p style="text-align:justify;">As <strong>Joe Zhou, Head of Research, JLL China </strong>points out, "China's economic landscape is changing fast. The innovation economy has taken hold, and a new wave of domestic corporates are reshaping China's business ecosystem. For China's cities and real estate markets, <strong>JLL </strong>sees the focus shifting toward 'future-proofing', which measures a city's readiness to embrace change and develop in line with newly emerging trends."<br></p><h4><img src="/china/en-gb/PublishingImages/Lists/News/AllItems/ccgg-website-en-1.jpg" alt="china12: a new evolution curve" style="margin:5px;" /><br></h4><p style="text-align:justify;"><strong>Global Contenders</strong></p><p style="text-align:justify;">Perhaps unsurprisingly, Beijing and Shanghai stand out from the pack when both traditional and future-proofing factors are considered. Their sheer size allows them to dominate many of the rankings, further aided by their high concentration of wealth. While Beijing leads the way in areas such as innovation, education and 'next generation' corporations, Shanghai boasts high scores in liveability, environment, and integration within the surrounding region. </p><p style="text-align:justify;">Beijing and Shanghai's diversified strengths and developed economies set them on course to join the elite group of most powerful and globally-connected 'Big Seven' cities within the next five years. Matched only by Los Angeles in this ambition, <strong>JLL</strong>'s report points out that this transition can be accelerated through improvements in environment, market transparency and talent pool depth. </p><p style="text-align:justify;"><strong>Enterprisers</strong></p><p style="text-align:justify;">Shenzhen and Guangzhou are classified as 'Enterprisers', similar in many aspects to dynamic global cities like Taipei, Kuala Lumpur, and Bangalore, where innovation now thrives. These two Chinese cities are strong in areas such as quality of life, connectivity, and their talent pools, but while Guangzhou boasts good scores in traditional metrics, Shenzhen's development of successful and innovative corporates has now pulled the city ahead on several 'future-proofing' metrics. </p><p style="text-align:justify;">The report highlights Shenzhen, often referred to as 'China's Silicon Valley', as a key city to watch within the China12. "Shenzhen is carving out its own position as a magnet for China's top talent, with dynamic entrepreneurial workplaces and concentrations of innovative domestic corporates", says <strong>Jeremy Kelly, Director in Global Research, JLL</strong>. "On many 'future-proofing' metrics, it is catching up with Shanghai and Beijing." </p><p style="text-align:justify;"><strong>Powerhouses </strong></p><p style="text-align:justify;">The remaining eight cities are what can be considered China's powerhouses, with their strong connections to global manufacturing and industry. Hangzhou, Nanjing, Suzhou and Wuhan's future-proofing stands out in this group. Their enhanced connectivity and rapidly developing business ecosystems are creating a truly global mega-cluster of innovation which links up with Shanghai along the Yangtze River corridor. </p><p style="text-align:justify;">As <strong>Joe Zhou</strong> points out, "Hangzhou is particularly strong judged on both traditional metrics such as its growth rate and wealth, as well as 'future proofing' metrics such as market transparency and capacity for innovation. Its role as host of the 2016 G20 summit and home to tech firms such as Alibaba also give it relatively high global visibility among the 'Powerhouse' group." <br></p><p style="text-align:justify;">Completing the twelve, Tianjin, Chengdu, Chongqing and Xi'an are highly dynamic economies and impressive engines of growth. While they score well on traditional metrics, <strong>JLL</strong>'s research emphasises that they must adapt as China moves up the value-chain, by cultivating and retaining talent, battling pollution and supporting 'next generation' companies. </p><p style="text-align:justify;">No matter where they rank within this elite group, the China12 represent a major urban force in the 21st century. As <strong>Jeremy Kelly</strong> sums up, "The China12 are home to a growing group of highly dynamic and ambitious 'next generation' firms that will drive the next wave of globalisation, and these cities are at the cutting edge of new technologies that will change the way we live and work in cities, not just within China but across the globe." </p><p>For more information, please download '<strong>China12: China's Cities Go Global'</strong> <a href="http://www.joneslanglasalle.com.cn/china/en-gb/china12-china-cities-report?utm_source=china-site&utm_medium=organic&utm_campaign=ccgg&utm_content=news" target="_blank">here.</a><br></p><p style="text-align:center;">– ends –​​<br></p><p>​​​<br></p><div><div aria-labelledby="ctl00_PlaceHolderMain_DeviceChannelAuthoringControl_ctl00_PageContentField_label" style="display:inline;"><div><p style="color:#454545 !important;"><strong><em>Find out more about China 12 via our WeChat Mini-Program</em></strong></p></div><h4><img src="http://www.joneslanglasalle.com.cn/china/zh-cn/PublishingImages/Pages/china12-trailer/website-ccgg-qr-code.jpg" alt="website-ccgg-qr-code.jpg" style="border-width:0px;border-style:initial;margin:5px;width:250px;" /><br></h4><p><br></p></div></div><p><span style="line-height:20.8px;"></span><em style="line-height:1.6;">>>>Read more about <a href="http://www.joneslanglasalle.com.cn/china/en-gb/services" target="_blank" rel="nofollow">JLL ​Services​</a></em><br>​<em style="line-height:1.6;">>>>Read more about </em><em style="line-height:1.6;"></em><em style="line-height:1.6;"><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb/news" style="line-height:1.6;">JLL News</a>​</em><br>​<em style="line-height:1.6;">>>>Read more a​bout​ </em><a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb/research" style="line-height:1.6;"><em>JLL Research​​​</em></a><br></p><p><br></p><span class="ms-rteFontSize-1 ms-rteThemeForeColor-5-0"><strong><em></em></strong></span><span class="ms-rteFontSize-1 ms-rteThemeForeColor-5-0"><strong><em>About JLL</em></strong></span><p>JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion and fee revenue of $6.7 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000.  As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit<br>, <a target="_blank" href="http://www.joneslanglasalle.com.cn/" rel="nofollow">www.jll.com</a>. </p><p>JJLL has over 50 years of experience in Asia Pacific, with over 37,000 employees operating in 96 offices in 16 countries across the region. The firm won the ‘World’s Best’ and ‘Best in Asia Pacific’ International Property Consultancy at the International Property Awards in 2016 and was named number one real estate investment advisory firm in Asia Pacific for the sixth consecutive year by Real Capital Analytics.  <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/asiapacific">www.jll.com/asiapacific</a>  </p><p>In Greater China, the firm was named ‘Best Property Consultancy in China’ at the International Property Awards Asia Pacific 2016, and has more than 2,200 professionals and 14,000 on-site staff providing quality real estate advice and services in over 80 cities across the country​.  <a target="_blank" rel="nofollow" href="http://www.joneslanglasalle.com.cn/china/en-gb">www.joneslanglasalle.com.cn</a>​​​​​​​​​​​​​​​​​<br></p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88

 

 

Asia Pacific Property Digest - 2Q 2018/asia-pacific/en-gb/research/966/asia-pacific-property-digest-2018-2qAsia Pacific Property Digest - 2Q 2018Markets remain resilient0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045
The Retail Index 2Q 2018/asia-pacific/en-gb/research/964/the-retail-index-2q-2018The Retail Index 2Q 2018Landlords looking for new ways to set their malls apart0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045