This shopping complex is Australia’s hottest commercial property, and further updates

For PropertyGuru’s real estate news roundup, Australian commercial property investors are expected to hotly pursue this Hobart asset when it hits the market. In other news, Thailand’s electric vehicle industry will have implications for the country’s commercial real estate industry. Lastly, the Department of Human Settlements and Urban Development (DHSUD) of the Philippines said its national housing programme transforms communities into resilient and sustainable living spaces.

AUD50 million: Cutting-edge shopping complex to test Australian retail sector

Commercial property investors are expected to hotly pursue this Hobart asset when it hits the market.

Opened in August 2022, Glebe Hill Village will test investor demand in the retail sector, with what is described as “one of Australia’s finest neighbourhood shopping centre developments”. The Tipalea Partners development will be offered for sale exclusively by JLL directors, Stuart Taylor, Jacob Swan and Tom Noonan. It will be sold via an expression of Interest campaign.

The owners are seeking a price circa AUD50 million.

JLL’s Stuart Taylor said the centre represents an asset of unparalleled quality, a level of craftsmanship unseen in the neighbourhood sector. “We are expecting significant national and offshore interest in this campaign from a range of purchaser types, primarily due to the quality and performance of the asset, but also because there is a major undersupply of quality assets to the market,” he said in realcommercial.com.au.

Thailand’s electric vehicle industry to power commercial real estate – JLL

Thailand is well positioned to become Southeast Asia’s leading market for electric vehicle (EV) manufacturing and innovation which will have implications for the country’s commercial real estate industry. According to JLL, the potential for sustained growth in Thailand’s EV industry, backed by government policies and foreign investment, will create an addressable real estate market of least USD6.5 billion (THB220 billion) by 2030, to support the country’s emergence as a regional manufacturing and innovation leader in the space.

In a RETalk Asia report, JLL’s forecast for the size of the real estate market required to support Thailand’s EV industry is based on several key developments in this space. The implementation of the Government of Thailand’s ambitious 30@30 policy, which aims for 30 percent of all vehicles made in Thailand to be electric by 2030, will frame the real estate requirements of the sector from now onward. The 30@30 policy initiative includes substantial subsidies, tax cuts, and the EV 3.5 incentive package covering 2024-27.

“Thailand has made a clear statement through the implementation of the 30@30 policy and EV 3.5 package – we have the ambition and the drive to become the leading EV manufacturing hub in the region. The incentives are incredibly appealing to investors, manufacturers and suppliers operating in the EV industry, but for the potential of this industry to be fully realised at a national level, the role of commercial real estate to form the backbone of the longer-term sustainability of the market cannot be understated,” said Michael Glancy, Managing Director, Thailand and Indonesia, Jones Lang Lasalle (JLL).

Philippines: DHSUD features fair housing and urban renewal on National Shelter Month

The Department of Human Settlements and Urban Development (DHSUD) said the national housing programme transforms communities into resilient and sustainable living spaces.

A week-long fair is part of the celebration of National Shelter Month with the theme, “Matibay na Tahanan, Matatag na Komunidad Para sa Bagong Pilipinas”.

“Under these programmes, we will push for ‘New Communities for New Citizens’ who care for their fellowmen, surroundings, and the nation,” DHSUD Secretary Jose Rizalino Acuzar said in PNA.

Through the Pambansang Pabahay para sa Pilipino (4PH) Program, the PLANADO (Plan & Do) Program and the Pasig Bigyang Buhay Muli (PBBM) project, the DHSUD ensures collaboration between the public and private sectors to “further propel vibrancy in the housing and real estate industry.”

The Property Report editors wrote this article. For more information, email: [email protected].