戴德梁行《2025年第二季度大中华区物流地产市场回顾报告》，通过多维度数据与区域分析，呈现该季度市场供需、租金、空置率及行业动态，为市场参与 者提供参考。 从整体经济与行业景气度看，2025年第二季度中国内地物流业景气指数保持扩张态势，四月为51.1%、五月50.6%、六月50.8%，均高于50%荣枯线，显示物 流行业整体运行稳健，需求端具备支撑力。同期，制造业PMI（采购经理指数）于五月录得49.0，虽处于收缩区间，但物流地产市场受消费与电商需求带 动，仍保持相对活跃。外贸方面，五月集装箱吞吐量达560万TEU，同比微增0.6%，较2021年同期增长22%，反映跨境物流需求平稳，对港口周边物流地产 形成一定支撑。 供需层面，供应端呈现区域分化特征。2025年第二季度大中华区物流地产新增供应量达157,732平方米，部分区域如上海、广州等核心城市新增供应较为集 中，上海单季新增供应729万平方米（数据单位待进一步确认，推测为区域内重点板块贡献），而部分二三线城市新增供应相对有限。需求端，核心城市租 赁活动活跃，重点城市优质物流地产净吸纳量表现亮眼，其中3PL（第三方物流）企业为主要租赁群体，典型成交案例包括某 ...

Group 1 - The core point of the article highlights the significant stock price increase of Ocean Group, which rose by 10.17% to 0.13 CNY per share, with a trading volume of 13.25 million CNY on August 25 [1] - Ocean Group's main business includes residential development, real estate operation, property services, and full-chain construction services, with additional ventures in elder care, data real estate, logistics real estate, and real estate funds [1] - The company has developed and operated over 600 projects in more than 80 cities, and its property service subsidiary, Ocean Service, was listed on the Hong Kong Stock Exchange at the end of 2020, ranking among the top 20 property service companies in China [1] Group 2 - As of the 2024 annual report, Ocean Group reported total revenue of 23.641 billion CNY and a net loss of 18.624 billion CNY [2] - Ocean Group is set to disclose its mid-year report for the fiscal year 2025 on August 28 [3]

Group 1 - The commercial real estate investment in the Asia-Pacific region has achieved year-on-year growth for the sixth consecutive quarter, with Q1 2025 investment reaching $36.3 billion, a 20% increase compared to the previous year, marking the highest level since the US interest rate hike cycle began in 2022 [1] - Cross-border investment in the Asia-Pacific region reached $8.6 billion in Q1 2025, a significant increase of 152% year-on-year, with overseas investors favoring office buildings, logistics properties, and long-term rental apartments [2] - In mainland China, commercial real estate investment totaled $3.8 billion in Q1 2025, driven by corporate buyers and high-net-worth individuals, leading to an increase in small-scale transactions [2] Group 2 - Insurance companies are becoming a significant force in the mainland China's commercial real estate market, with direct investments reaching $9.3 billion from 2022 to 2024, comparable to mature markets like the UK and the US, and leading the Asia-Pacific region [2] - The investment in long-term rental apartments has seen a notable increase due to stable income performance, with both domestic and international institutional investors increasing their allocations in this sector [3] - The retail property market is expected to benefit from government consumption promotion policies, with stable operating income and strong operational performance in prime retail properties, making them attractive for investment [3]

Group 1: Commercial Real Estate Investment Trends - The Asia-Pacific commercial real estate investment in Q1 increased by 20% year-on-year to $36.3 billion, marking the highest first-quarter investment since the start of the 2022 interest rate hike cycle [1] - All real estate sectors, except for industrial and logistics properties, saw increased investment, indicating that investors are making rational decisions based on objective fundamentals [1] - In Hong Kong, commercial property transactions over HKD 50 million totaled $850 million, a decrease of 17.8% year-on-year, with the investment market remaining subdued due to high interest rates [1] Group 2: Cross-Border Investment and Market Outlook - The Asia-Pacific region recorded $8.6 billion in overseas capital inflow in Q1, a significant increase of 152% year-on-year, the highest for the same period since 2019 [2] - Japan remains a favored market for foreign investment, attracting $13.7 billion in foreign capital in Q1 2025, a 20% increase year-on-year, despite rising interest rates [2] - The investment sentiment is expected to remain subdued in the short term due to high borrowing costs exceeding investment returns, although potential U.S. interest rate cuts and economic stimulus measures in China could improve investor confidence [2] Group 3: Economic Impact of U.S. Tariff Policies - U.S. tariff policies are anticipated to impact the economies of several countries, particularly those heavily reliant on exports to the U.S., such as Vietnam, Malaysia, and South Korea [3] - The weakening economic growth outlook in the U.S. may lead to reduced leasing and investment activities in commercial real estate, affecting demand for office spaces and retail performance [3] - Despite challenges, structural trends such as rising e-commerce penetration and an expanding middle class are expected to support internal trade in the Asia-Pacific region [3]