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JLL's Partnership with CTBUH

JLL joins founding sponsor group for CTBUH Asia headquarters

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​The Council on Tall Buildings and Urban Habitat (CTBUH) announced six of the seven founding sponsors for its Asia headquarters. JLL is one of the seven founding sponsors, who hail from a diverse range of disciplines, and is the only  real estate consultancy in the group.

JLL's Partnership with CTBUH

​​As part of the partnership, JLL will utilize its strong capabilities and in-depth knowledge of tall buildings globally to support CTBUH in its mission to promote the tall building industry in China, as well as Asia, and to work hand in hand to secure a better, more sustainable future for the region’s rapidly growing cities. ​​​​

Click here to download "Property and Asset Management: Tall Buildings - our high rise expertise" capability statement

News and Case Studies

 

 

JLL to partner with China Plaza to deliver superior property management services/china/en-gb/case-studies/56/our-trusted-partnership-with-china-plaza-developed-through-superior-delivery-of-servicesJLL to partner with China Plaza to deliver superior property management services<p>​​Located in Dongshan District, China Plaza is a renowned shopping centre in Guangzhou and across China. The development is connected to the prime subway in Guangzhou and comprises 170,000 sqm of retail space, 120,000 sqm of office space and over 1,000 car parking spaces. </p> <p>China Plaza’s owner sought the expertise of JLL to effectively manage the property since 2000. Our firm has consistently delivered superior property management services for the shopping centre and China Plaza property management services have never been entrusted to any other service providers.</p>0x0100F03D47272AC15342926F7D713E448F1B00EB1C487C9E90A2419F545A2750B08453
Providing Property Management Service to World-class Stadium Bird's Nest/china/en-gb/case-studies/88/providing_property_management_services_to_world-class_stadium_bird-s_nestProviding Property Management Service to World-class Stadium Bird's Nest<p><span class="ms-rteThemeFontFace-1">​In 2008, the Beijing Property and Asset Management team was appointed to manage the Bird’s Nest, National Stadium. This world-class, bowl-shaped structure is a landmark development located at the heart of the Olympic city. The stadium has a total land area of 258,000 sqm and a seating capacity of 91,000. It hosted the opening and closing ceremonies as well as all track and field events for the Olympic and Paralympic Games. </span></p><p><span class="ms-rteThemeFontFace-1">During the “Good Luck Beijing” pre-Olympic preparations, the BJPM team was appointed to manage three Olympic stadiums. Aside from the Bird’s Nest, we were also the property manager of Wukesong Baseball Field and Olympic Green Tennis Centre.</span></p>0x0100F03D47272AC15342926F7D713E448F1B00EB1C487C9E90A2419F545A2750B08453

 

 

Supertalls gaining ground in Asia/thailand/en-gb/news/617/supertalls-gaining-ground-in-asiaSupertalls gaining ground in Asia<p>Of the world's supertalls – a nickname for skyscrapers rising over 300 meters – around 60 percent are  in Asia, according to the Council on Tall Buildings and Urban Habitat (CTBUH). Out of the world's 48 completed commercial supertalls, 29 are in the region. Most are these are in Hong Kong and mainland China.</p><p> </p><p>Asia's rising urbanization means supertalls are being built faster than ever before. Last year, for the ninth year in a row, China had the most 200-meter-plus completions, says CTBUH.</p><p> </p><p>The lure of building skyscrapers is rising as developers and governments see the benefits they bring to businesses, citizens, tenants and a city's profile. This is putting supertalls and megatalls (over 600 metres) high on the development agenda, propelled by rapid economic expansion, competition between cities to put themselves on the map and a desire to maximise land value.</p><p> </p><p>In Southeast Asia, newly constructed supertall buildings and planned structures include Thailand's MahaNakhon Tower and Observation Tower, Vietnam's Vincom 81, Jakarta's Signature Tower and Malaysia's Merdeka Tower.</p><p> </p><p>"In Asian cities, density and rising population mean there will be more supertall buildings to come," says Eric Lee, JLL's Head of Operations, Property & Asset Management, Greater China.</p><p> </p><p><strong>Investor appeal</strong></p><p> </p><p>These stand-out structures are increasingly commanding a rental and valuation premium, Lee adds.</p><p> </p><p>"Supertalls are iconic buildings, and they add value such as prestige and branding, which help to lure top-class tenants, businesses, tourism and talent," he says.</p><p> </p><p>For instance, Kuala Lumpur's Petronas Twin Towers, once the tallest building in the world, has been a tourist magnet and a major commercial centre since their completion two decades ago. In Shanghai, as the number of tall buildings rises, the city's ranking has also improved. It has closed the gap with neighbouring Seoul and Tokyo, based on JLL's Decoding City Performance report.</p><p> </p><p>Generally located in the heart of central business districts or prime locations, these assets have easy access to transportation networks and modern infrastructure. They also contribute to local city developments and symbolise success and optimism for the future of any city, says Lee.</p><p> </p><p>Asian governments have been supporting the construction of supertalls because skyscrapers are perceived as an effective way to boost the competitiveness of a city's business environment. According to JLL's <a href="/cities-research/Documents/benchmarking-future-world-of-cities/JLL-Decoding-City-Performance-2017.pdf">Decoding City Performance report</a>, reputation is key in attracting businesses, talent and visitors, and cities are using innovative real estate and impressive skylines to project their brands and identities.</p><p> </p><p><strong>Super tall pay-off</strong></p><p> </p><p>While construction costs of supertalls can be high due to issues such as overcoming wind forces and ensuring energy efficiency, the gain can be worth it. These "vertical villages" not only generate investment opportunities, but also create value for the surrounding areas, helping lure crowds, drive sales and rental prices, says Lee. Additional gains for owners and developers include the ability to display prominent signage and the right to use the name of a significant building.</p><p> </p><p>Supertall buildings are built primarily for commercial purposes, but many also feature mixed-use spaces including retail stores, observation decks, food and beverage shops, and community areas.</p><p> </p><p>There has also been an increased focus on place-making to promote social interactions among users of a supertall. In light of this, elements such as co-working, as well as green spaces, are incorporated at various levels of the supertall building, says Lee, which help boost the popularity and attractiveness of supertalls to a new generation of workers inhabiting the building.</p><p> </p><p>This article is published on <a href="http://www.theinvestor.jll/">http://www.theinvestor.jll</a></p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88
The investment case for retrofitting old buildings/vietnam/en-gb/news/372/investment-case-retrofitting-old-buildingsThe investment case for retrofitting old buildings“Not only is the retrofitting method a relatively easy and cost-effective way to upgrade an existing building compared to redevelopment, it reaps a significant benefit for the bottom-line in terms of operational savings by being more energy efficient and 0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88
The investment case for retrofitting old buildings/thailand/en-gb/news/589/the-investment-case-for-retrofitting-old-buildingsThe investment case for retrofitting old buildings<p>​​<span style="color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;">Cities across Asia are seeing an increasing number of new office blocks: From Marina One in Singapore to the Z15 Tower in Beijing, occupiers have more choices than before. Many companies have also moved to new developments; Line moved its headquarters to Miraina Tower in Shinjuku, Tokyo while JLL Shanghai has relocated to the HKRI Taikoo Hui complex.</span></p><p style="box-sizing:inherit;margin-bottom:1.5em;color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;">Meanwhile, other cities like Hong Kong and Melbourne have <a href="http://www.theinvestor.jll/news/apac/00/technology-drastically-changing-workplace-investors-angle/" style="box-sizing:inherit;background-color:transparent;color:#bc141a;">ageing buildings in their core prime areas</a>, with many more than 20 years old. “Owners of older buildings can improve asset attractiveness and profile by retrofitting,” says Craig Mason, from JLL’s Project and Development Services. “With occupants increasingly embracing an agile and wider range of <a href="http://www.theinvestor.jll/news/melbourne/01/melbourne-co-working-capital/" style="box-sizing:inherit;background-color:transparent;color:#bc141a;">workplace strategies</a>, buildings that already have these facilities in place will be in-demand with tenants willing to pay a premium for the space.”</p><p style="box-sizing:inherit;margin-bottom:1.5em;color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;">Mason adds that many of today’s tenants are asking for services – such as better indoor air quality, concierge-style facilities and free wireless access – in and around the building to create a networked precinct. Hence retrofitting is about future-proofing – it improves the value of a property as it anticipates tenant demand and improving occupier comfort.</p><blockquote style="box-sizing:inherit;padding:10px 20px;margin:0px 0px 1.5em;font-size:18px;border-left-width:5px;border-left-style:solid;font-family:"times new roman", times, serif;word-wrap:break-word;font-style:italic;color:#373737;border-color:#bc141a !important;"><p style="box-sizing:inherit;margin-bottom:1.5em;">“Not only is the retrofitting method a relatively easy and cost-effective way to upgrade an existing building compared to redevelopment, it reaps a significant benefit for the bottom-line in terms of operational savings by being more energy efficient and reducing water wastage,” he says.</p><a href="http://www.theinvestor.jll/news/apac/01/investment-case-retrofitting-old-buildings/#" class="popupsharer" style="box-sizing:inherit;background-color:transparent;color:#bc141a;float:right;margin-top:-10px;font-size:14px;"><em style="box-sizing:inherit;">Click to Share</em></a></blockquote><p style="box-sizing:inherit;margin-bottom:1.5em;color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;">Moreover, retrofitting a building can help change the way people use the building. More open and natural spaces help with employee productivity while traditional office building lobbies can also be transformed to hold third spaces like cafes, stores and lounges.</p><p style="box-sizing:inherit;margin-bottom:1.5em;color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;"><strong style="box-sizing:inherit;">Retrofitting Success</strong><br style="box-sizing:inherit;">In the Asia Pacific region, Australia has undertaken several significant retrofitting projects to resounding success. In Melbourne, Rialto Towers’ upgrade has seen 5,000 square meters of new office space as well as large retail spaces for brands like Mercedes Benz to a St Ali coffee house. The new tower is also the centerpiece of a new regeneration project in the city’s King Street district.</p><p style="box-sizing:inherit;margin-bottom:1.5em;color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;">Up the coast, Sydney’s Chifley Tower has been recognised with the World’s Best Performance accolade in the Council on Tall Buildings and Urban Habitat (CTBUH) Awards in 2015 after a four-year green retrofitting and upgrading project that was completed in 2012.</p><p style="box-sizing:inherit;margin-bottom:1.5em;color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;">“There are many ways a building can be retrofitted and upgraded. You can expand floor plate size, <a href="http://www.theinvestor.jll/news/apac/00/real-estate-impact-esg/" style="box-sizing:inherit;background-color:transparent;color:#bc141a;">increase green features,</a> upgrade mechanical and electrical specifications, boost facilities such as co-working space and cafeteria areas,” explains Dennis Lim, from PDM International, a JLL design firm. Other works to undertake include investment in acoustics, security, the Internet of Things and lift upgrades.</p><p style="box-sizing:inherit;margin-bottom:1.5em;color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;">Lim argues that retrofitting brings out the potential of the building to investors; more importantly it offers the opportunity to maximize plot ratios to increase returns. “For the former DBS Building in Singapore’s Shenton Way, we did extensive research and worked with the owners to enhance the building by creating café spaces on the lobby floor, having indoor landscaping and even upgrades done to the washrooms,” he says.</p><p style="box-sizing:inherit;margin-bottom:1.5em;color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;">The building was eventually sold to OUE for S$870.5 million in 2010 and Downtown OUE opened to much fanfare earlier this year. It boasts a retail and F&B component which also houses a co-working space as well as serviced residences.</p><p style="box-sizing:inherit;margin-bottom:1.5em;color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;">“When done well, retrofitting showcases buildings at their best. These buildings not only bring greater value to their owners, they make economic and environmental sense,” says Mason. “In this age of climate change, that could be the greatest reward of all.”​</p><p style="box-sizing:inherit;margin-bottom:1.5em;color:#373737;font-family:arial, helvetica, sans-serif;font-size:14px;">For more insights, visit  <a href="http://www.theinvestor.jll/">www.theinvestor.jll​</a><br></p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88