随着商业地产竞争愈发激烈，对运营管理能力提出了更高要求。戴德梁行研究院副院长、华南及华中区 研究部主管张晓端认为，专业的资产管理人显得尤其重要。资产管理人的职责是将资产增值的全面规划 落实到整个项目周期中，对资产进行全生命周期的统筹运营，对接各阶段关键指标的实现。 在供求关系深刻变化的背景下，房地产正告别规模扩张与高速周转的传统路径，转向运营优化、品质升 级与品牌深耕的方向。尤其面对持续扩张的商业存量规模、愈发激烈的市场竞争局面，"房地产资产管 理"正受到更多关注。 根据中国房地产指数系统写字楼租金指数对全国重点城市主要商圈写字楼租赁样本的调查数据，2025年 三季度全国重点城市主要商圈写字楼平均租金为4.55元/平方米/天，环比下跌0.33%，前三季度累计下跌 1.39%。与此同时，城市更新、保租房建设等政策密集落地，要求行业从"建房子"向"管资产"转型，存 量资产盘活的紧迫性与日俱增。 她还表示，系统化的租务管理包括租户行业结构分析、租约稳定性管理、租户质量把控、租金收入贡献 比重分析等，为优化租户成分、租约组合等综合管理提供基础数据；同时把控租约长短组合，主动把握 客户合约到期时间，提前备案措施以缓释风 ...

Core Insights - The report emphasizes the transformation of the real estate industry from a development-driven model to an asset management-focused approach, highlighting the need for value preservation and enhancement in a changing market environment [4][10][26] - It identifies significant shifts in supply and demand dynamics within the real estate market, indicating a transition from rapid urbanization and expansion to a focus on optimizing existing assets and improving quality [11][14][23] - The report outlines the importance of adopting a comprehensive asset management strategy that spans the entire lifecycle of real estate assets, from acquisition to operation and eventual exit [39][41][67] Market Dynamics - The real estate market in China has experienced profound changes, with a notable decline in new housing sales and development investments since 2022, leading to an oversupply situation [10][11][14] - Major cities have seen a significant increase in the stock of Grade A office buildings, with total stock growing by 85.9% from 2016 to 2024, resulting in rising vacancy rates and downward pressure on rental prices [17][18] - The retail property market has also expanded, with high-quality shopping center stock increasing by 158.3% from 2016 to 2024, intensifying competition among commercial properties [21][22] Demand Evolution - The report highlights a shift in consumer preferences, with an increasing focus on quality and experience in housing and commercial spaces, driven by demographic changes and economic conditions [23][24] - The demand for rental housing is expanding, alongside a growing emphasis on sustainable and smart living environments, reflecting changing societal values [24][26] Asset Management Strategies - The report advocates for a strategic shift towards asset management that prioritizes long-term value creation through operational enhancements and financial optimization [32][34] - It emphasizes the necessity of a structured approach to managing existing assets, including categorizing and evaluating properties to maximize their operational efficiency and value [72][78] - The importance of dynamic adjustments in management strategies to respond to market fluctuations and tenant needs is underscored, ensuring that assets remain competitive and profitable [81] Value Tracking and Exit Strategies - Continuous tracking of asset values and market feedback is essential for understanding the factors influencing property valuations [51][52] - The report outlines various exit strategies, including asset securitization and equity transfers, as critical for realizing the value of real estate investments [59][60][64] - It stresses the significance of identifying optimal exit timing and methods to maximize asset value realization [59][60]

Core Insights - The company, JLL, has achieved significant recognition at the "2025 Asia Pacific International Real Estate Awards," winning three championships and one excellence award in the Greater China region, showcasing its strong market influence and comprehensive industry strength [1][3][4] Group 1: Awards and Recognition - JLL was awarded the title of Outstanding Real Estate Agency/Consultancy in China, Outstanding Real Estate Marketing Consultancy in Hong Kong, and Outstanding Real Estate Innovative Marketing Company in China [1][3] - The awards reflect JLL's commitment to excellence and its leading position in the real estate market in Greater China [3][4] Group 2: Business Operations and Achievements - JLL operates 23 offices in Greater China, providing a wide range of services including valuation and consultancy, strategic development consultancy, project management, capital markets, and commercial real estate [3][4] - The Capital Markets team facilitated a significant transaction for Li Ning Group, assisting in the acquisition of the Hong Kong project for HKD 2.2 billion, which highlights JLL's capability to bridge opportunities between mainland China and Hong Kong [3][4] - Over the past five years, JLL's Capital Markets team has facilitated transactions totaling nearly HKD 40 billion, establishing a leading position in the Greater China real estate investment market [4] Group 3: Project Highlights - The Shanghai Century Commercial Plaza project has been a landmark in the Hengfu style area, known for its prime location and high-quality construction, making it a preferred choice for major consulting firms and multinational corporations [4] - JLL's project and corporate services team has taken on significant asset management responsibilities for the Shanghai Century Commercial Plaza, revitalizing the project through innovative marketing strategies [4][5] Group 4: Regional Achievements - JLL's India team also received two awards at the 2025 Asia Pacific International Real Estate Awards, further emphasizing the company's strong presence in the Asia Pacific region [5]