OFFSHORE INVESTMENTS
Global Cities
Unexpected and Underrated
K
night Frank ’ s recently published Global Cities 2018 report offers a glimpse into what could be expected in the year to come . With the global landscape seemingly constantly dodging a crisis , and local prospects appearing uncertain at best , you ’ d be forgiven for being hesitant to invest . Below , we look at some cities highlighted by the report .
While these may not be the typical locations you ’ d think of when imagining up-and-coming cities , each offers a distinct opportunity . The key takeaway ? Look where the technology is heading , chances are people will follow .
Pittsburgh
“ Pittsburgh has seen more than 70 IT--focused firms headquartered in Silicon Valley and elsewhere open local offices over the past 10 years . Amazon , Apple , Facebook , Google and Uber are among the users that have caused rents and property values to surge . The city ’ s status as a growing technology hub , and hotbed for AI and autonomous vehicle development is triggering unprecedented revitalisation ” says Pamela Lowery , VP of Research Pittsburgh at Newmark Knight Frank .
Manila
Jan Paul D . Custodio , Senior Director for Research and Consultancy for Santos Knight Frank explains that Manila lies at the centre for growth in the Philippines ’ real estate market : “ Opportunities to invest in property development are amplified by the country ’ s attractive investment grade rating , high GDP growth rate , and strong macro-economic fundamentals .”
Amsterdam
An attractive alternative to pricier European markets , Amsterdam offers investors a real opportunity , states the report : “ Combined with the strong demand from the city ’ s vibrant and expanding technology sector , tight [ office ] supply will drive rental growth , and create opportunities for new development , particularly in central areas .”
Seattle
This one may not be so overrated after all . Amazon ’ s presence in the city has made it a beehive of activity for those looking gain access to some of the brightest minds in technology . The report also points out that other companies ’ presence is proving the city ’ s longevity : “ Thanks to Amazon and other titans including Microsoft , Costco , and Boeing , the region has supported and sustained growth through all economic cycles .”
NAMIBIAN RETAIL TAKES OFF
Over 30,000 excited shoppers welcomed the new 27,500m2 Dunes Mall in Walvis Bay , Namibia , on its opening day of 26 October 2017 .
Developed by leading South African property developer and investor Atterbury , and in partnership with local developers Collins Group , a wholly owned subsidiary of JSE listed Tradehold Limited , the new R600 million mall has become the very first regional shopping centre in the key Namibian port city of Walvis Bay .
Bengaluru
With a bustling IT sector and recent inclusion onto the Smart City list , Bengaluru offers investors an excellent opportunity : “ It ’ s transformed the city ’ s character , turning the pensioner ’ s paradise into a bustling cosmopolitan hub . This has stirred up its real estate market , which has become a major global office destination ,” explains Vivek Rathi , VP of Research at Knight Frank India .
SOURCES Newman Knight Frank , Knight Frank .
58 DECEMBER 2017 / JANUARY 2018 SA Real Estate Investor Magazine
OFFSHORE INVESTMENTS
Global Cities
Unexpected and Underrated
K
night Frank’s recently published Global Cities 2018
report offers a glimpse into what could be expected in
the year to come. With the global landscape seemingly
constantly dodging a crisis, and local prospects appearing un-
certain at best, you’d be forgiven for being hesitant to invest.
Below, we look at some cities highlighted by the report.
While these may not be the typical locations you’d think of
when imagining up-and-coming cities, each offers a distinct
opportunity. The key takeaway? Look where the technology is
heading, chances are people will follow.
Pittsburgh
“Pittsburgh has seen more than 70 IT--focused firms head-
quartered in Silicon Valley and elsewhere open local offices
over the past 10 years. Amazon, Apple, Facebook, Google and
Uber are among the users that have caused rents and property
values to surge. The city’s status as a growing technology hub,
and hotbed for AI and autonomous vehicle development is
triggering unprecedented revitalisation” says Pamela Lowery,
VP of Research Pittsburgh at Newmark Knight Frank.
Manila
Jan Paul D. Custodio, Senior Director for Research and Con-
sultancy for Santos Knight Frank explains that Manila lies at
the centre for growth in the Philippines’ real estate market:
“Opportunities to invest in property development are ampli-
fied by the country’s attractive investment grade rating, high
GDP growth rate, and strong macro-economic fundamentals.”
Amsterdam
An attractive alternative to pricier European markets, Am-
sterdam offers investors a real opportunity, states the report:
“Combined with the strong demand from the city’s vibrant
and expanding technology sector, tight [office] supply will
drive rental growth, and create opportunities for new develop-
ment, particularly in central areas.”
Seattle
This one may not be so overrated after all. Amazon’s presence
in the city has made it a beehive of activity for those look-
ing gain access to some of the brightest minds in technology.
The report also points out that other companies’ presence is
proving the city’s longevity: “ Thanks to Amazon and other
titans including Microsoft, Costco, and Boeing, the region has
supported and sustained growth through all economic cycles.”
58
DECEMBER 2017/JANUARY 2018 SA Real Estate Investor Magazine
NAMIBIAN RETAIL TAKES OFF
Over 30,000 excited shoppers welcomed th H�]��
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