Core Insights - The event hosted by CBRE focused on the latest trends in the real estate market, featuring discussions on office buildings, commercial trends, large transactions, REITs, and asset management, aiming to provide insights into market dynamics and pathways for breakthroughs [1] - The expansion of public REITs to include office and hotel assets marks a new phase in the financialization of real estate in China, providing standardized exit channels for existing assets and enhancing investment options for institutional investors [1] - The future growth of the real estate sector will increasingly rely on the optimization of existing assets, quality upgrades in property services, and the regulated development of the rental market, rather than solely on new developments [1] Market Trends - The Chief Policy Analyst at CBRE highlighted that expanding domestic demand and boosting consumption will be key drivers of economic growth in the complex international environment leading up to 2026 [2] - The performance of Beijing's office market in 2025 was reviewed, identifying core opportunities for market breakthroughs through industrial upgrades and operational strategy optimization, despite facing multiple challenges [2] - The retail market in Beijing is expected to see the opening of 13 quality projects in 2025, adding over 1.1 million square meters of retail space, alongside the renovation of older commercial projects to enhance market quality [2] REITs and Capitalization Rates - CBRE released the sixth edition of the "China REITs Index Real Estate Capitalization Rate Survey Report," indicating that capitalization rates serve as a core pricing anchor for real estate, reflecting industry confidence and investment logic [3] - The report aims to guide the development direction of the industry and assist in the value extraction of commercial real estate as public REITs expand into office and hotel sectors [3] Asset Management Strategies - The asset management strategy emphasizes "long-term resilience" as a core logic, with REITs serving as a key practical vehicle for this approach, evolving from single asset products to sustainable value operation platforms [4] - The investment logic is shifting from "profit from price differences" to "long-term holding and self-use adaptation," providing stable liquidity and operational certainty for core assets [4]
戴德梁行：房地产转型提质大有可为 以资产管理激活行业发展新动能
Zheng Quan Ri Bao Wang·2026-01-12 13:50