报告显示，香港商业房地产投资金额在2025年第四季按季增长130%，达203亿港元，创3年来季度新 高，全年总额达445亿港元，按年微升3%。 世邦魏理仕香港资本市场部执行董事兼主管甄浚岷表示，2025年香港商业房地产投资市场展现审慎乐 观，尽管减息幅度有限及资金缺口持续，市场活动仍逐步改善。展望2026年，预期住宿资产及企业总部 将成为焦点，并预测2026年投资额将温和增长约5%。(完) 1月6日，全球性地产服务和投资公司世邦魏理仕在香港举行记者会，发布《2026年香港商业房地产市场 展望》。中新网记者 戴小橦 摄 报告称，香港零售租赁动能改善，令核心零售区的街铺空置率下降两个百分点至5.8%，创2019年第四 季度以来最低水平。空置率下降推动租金按季上升0.6%，全年增幅达2.9%。 世邦魏理仕香港商铺租赁部资深董事兼主管温运强表示，2025年香港零售租赁市场保持活跃，主要受旅 游反弹及餐饮需求强劲带动。展望2026年，体验式概念及业主与租户的合作，将成为吸引香港本地及旅 客消费的关键。部分核心街铺的低空置率，预料将推动2026年租金再录得5%至7%的升幅；而非主要核 心区的零售租金则预计维持低至中个位数 ...

去年香港零售租赁市场保持活跃，世邦魏理仕香港商铺租赁部资深董事兼主管温运强认为主要受旅游反 弹及餐饮需求强劲带动。核心街铺及主要商场租赁活跃，但小区零售仍面对电商及消费降级的挑战。展 望2026年，由于大量2023年签订的租约即将到期，租赁速度有望进一步提升。体验式概念及业主与租户 的合作，将成为吸引本地及旅客消费的关键。部分核心街铺的低空置率，预料将推动2026年租金再录得 5%至7%的升幅；而非主要核心区的零售租金则预计维持低至中个位数跌幅。 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 观点网 香港报道：1月6日，世邦魏理仕发布《2026年香港商业房地产市场展望》报告，展望2026年市 场情绪预料进一步改善，部分核心区零售及办公室板块将录得增长，随着融资成本回落，投资者意欲亦 有望提升。世邦魏理仕香港区研究部主管陈锦平预期，办公室租赁动能将进一步增强，随香港金融市场 势头延续至新一年，并带动租户选择"追求优质"的搬迁策略。此外，持续涌入的学生及专业人才，将为 住宅市场注入动力。 世邦魏理仕香港顾问服务首席营运官冯慧诗表示，过去数年，香港办公室市场面对大量新增供应压力， ...

美联储威廉姆斯：未发现商业房地产领域存在"压力"环境。 来源：滚动播报 ...

施罗德资本私募市场首席投资总监Nils Rode指，在目前这个充满不确定性的时代，"韧性"已成为投资者 的关键词。根据施罗德投资于6月发布的《2025年环球投资者研究》，"投资组合的韧性"被投资者选为 在2025年余下时间及2026年远超其他选项的最高优先考量。现时市况表面平静，公开股票市场表现强 劲，债券票息率温和，实则暗藏复杂形势。通胀依然顽固，财政压力与日俱增，地缘政治的触发点亦不 断考验全球稳定性。 尽管人工智能热潮所带来的科技革新令人瞩目，但亦可能导致估值再度失衡。这种形势考验投资者能否 跳出短期市场势头的框架，转而专注于回报的持久性及自下而上的价值创造。在此背景下，周期性与结 构性因素正汇聚创造机遇，私募市场(非公开市场)可被视为一个关键领域。 私募股权领域正在经历一个重新校准的时期。资金募集和交易活动仍低于2022年之前的水平，同时退出 渠道收窄，持有期则有所延长。这些周期性因素，加上融资环境收紧和持续的宏观经济环境波动，正在 重塑投资格局。然而，这并非疲弱的讯号，反而显示市场正在恢复平衡与纪律。简而言之，竞争减少、 部署更审慎、定价差异扩大，以上种种正为未来更好的投资年份铺路。 当前市况有利于 ...

Group 1 - Alexander & Baldwin (ALEX.US) experienced a pre-market surge of over 37% following the announcement of its acquisition by a joint venture of MW Group, Blackstone Real Estate, and DivcoWest at a cash price of $21.20 per share [1] - The acquisition values Alexander & Baldwin at approximately $2.3 billion, including debt, with the purchase price representing a 40% premium over the company's closing stock price on Monday [1] Group 2 - The pre-market price for Alexander & Baldwin reached $20.80, reflecting a significant increase of 37.38% [2] - The company's total market capitalization is reported at $1.102 billion, with a total share count of approximately 72.758 million [2] - The stock has a 52-week high of $19.218 and a low of $15.070, indicating volatility in its trading range [2]

智通财经APP获悉，美国商业房地产公司Alexander & Baldwin(ALEX.US)将被MW集团、黑石房地产和 DivcoWest的合资企业以每股21.20美元的现金收购，公司估值(含债务)约为23亿美元。该收购价较 Alexander & Baldwin周一美股收盘价溢价40%。受此消息提振，截至发稿，Alexander & Baldwin周一美 股盘后涨超37%。 交易完成后，Alexander & Baldwin将变为私有企业，其股票将从纽约证券交易所退市。此项合并已获得 该公司董事会一致批准，预计将于2026年第一季度完成。该公司将保留其名称、品牌及檀香山总部，并 继续由位于夏威夷的团队领导。投资财团计划向该公司的房地产组合投入逾1亿美元，以加强其服务于 社区的资产。 ...

美联储发布监管报告，称仍然关注银行与商业房地产贷款。 ...

Economic Concerns - Mohamed El-Erian expresses significant concerns regarding the financial health of low-income consumers and the potential refinancing of substantial debt in the coming years, indicating these as potential pressure points for the economy [1] Low-Income Consumer Spending - Low-income households are experiencing immense financial pressure, leading to reduced spending, which could have a cascading effect on the broader economy. This group has faced rising inflation and increasing debt burdens, with inflation growth outpacing post-tax wage increases since the beginning of the year [1][2] - The total household debt in the U.S. increased by $197 billion in Q3, reaching $18.5 trillion, further exacerbating the financial strain on consumers [1] Employment Market Concerns - There are signs of weakness in the labor market, with October witnessing the worst layoff wave in over two decades. Additionally, concerns about job displacement due to artificial intelligence are growing among the workforce [1] Debt Refinancing Pressures - Both public and private sectors in the U.S. have accumulated significant debt, much of which may need to be refinanced at higher interest rates, posing risks to borrowers. This issue is particularly pronounced in commercial real estate, where a substantial amount of loans obtained at lower rates during the pandemic are maturing [3] - By the end of 2026, over $210 billion in commercial mortgage-backed securities (CMBS) related to office loans will mature, indicating potential refinancing challenges [3] Signs of Borrower Distress - There are increasing signs of borrower distress, with delinquency rates on commercial bank loans steadily rising over the past two years. Additionally, corporate bankruptcies surged to a five-year high this summer [3] Systemic Risk Assessment - Despite these pressures, El-Erian does not foresee a financial or credit crisis akin to past events, suggesting that while there may be economic "accidents," systemic shocks are unlikely. He likens the situation to "cockroaches" that appear in clusters but do not undermine the entire system [4]

Core Viewpoint - The Hong Kong commercial real estate market is facing structural issues that cannot be resolved in the short term, and the government should allow market mechanisms to adjust while considering the establishment of an asset management company to buy time for recovery [1] Group 1: Market Conditions - The overall vacancy rate for office spaces in Hong Kong currently stands at 15% [1] - Recent transaction prices for Central district office buildings have dropped over 70% compared to their peak levels a few years ago [1] Group 2: Financial Implications - Many commercial real estate companies are in a state of insolvency, yet banks have refrained from significantly lowering property valuations to avoid impacting asset quality [1] - The current capitalization rate for office buildings is approximately 2% to 3%, which is lower than borrowing costs, indicating a challenging financial environment for potential buyers [1] Group 3: Government and Market Response - The government is adopting a temporary approach, hoping that interest rate cuts will stabilize the market, although this may not be effective without substantial reductions in property valuations [1] - There are two proposed strategies: allowing the market to self-correct as prices become attractive, or actively intervening by establishing a central asset management company to handle properties and provide banks and borrowers with time to wait for market recovery [1]

Group 1 - The first "Industrial Upgrading" project in Qianjiang Century City, the Qianjiang Century City Intelligent Comprehensive Science and Technology Park, has broken ground, marking a new practice in urban industrial exploration [1][4] - The Hangzhou Asia-Olympic Vientiane World, located in Qianjiang Century City, is set to open at the end of September, featuring a total area of nearly 150,000 square meters with a unique "Mall + Street" format [1][2] - The project aims to enhance the quality of life for residents in the Asian Games Village and surrounding areas, stimulating regional consumption vitality [2] Group 2 - The Qianjiang Century City Intelligent Comprehensive Science and Technology Park will have an industrial and research facility area of approximately 149,000 square meters, designed to meet the diverse needs of different enterprises [4] - The park will consist of 11 independent buildings, including 8 standard factories, 1 research factory, and 2 supporting buildings, focusing on smart, low-carbon, and personalized vertical industrial complexes [4] - The project is expected to be completed by June 2028, with a focus on low-altitude economy and artificial intelligence as leading industries, aiming to create a "Digital Economy + Advanced Industry Base" [5]