"Thailand welcomed 7.2 million visitors in Q3, and this was reflected in the performance of Thai hotel operators and the broader economy."

"Beijing retail market experienced a positive recovery trend and consumption boom in 2023, boosted by sufficient supply and demand after the three-year pandemic."

"The expanding supply in the Chongqing retail property market in recent years has further intensified market competition. In addition to continuing to optimize the brand and format mix, future business projects need to pay more attention to how to innovate the operation model and enhance competitiveness with higher quality services."

"Chennai’s remarkable ascent to the third place in India’s office leasing markets is owing to a dynamic real estate landscape which has played a pivotal role in the country’s commercial office sector growth."

"Despite ongoing challenges, Ho Chi Minh City’s office market remains resilient, poised for a robust rebound to its pre-COVID prowess. The emergence of increased green, Grade A space highlights a promising trajectory for the city’s commercial real estate."

"An increase in the number of visitors to Jakarta has been driven by the growing MICE activity, which has lead to an improvement in occupancy rates in the hotel market. Even though the hotel market performance is still in a recovery phase, nightly room rates have returned to pre-pandemic levels."

"Despite strong ongoing macroeconomic headwinds, Lahore’s residential market has grown steadily on the back of strong population growth, rural to urban migration, and interest from both owner occupiers and investors, resulting in steady demand for centrally located developments with high quality finishing and amenities."

"The new generation of Grade A strata office buildings is set to establish elevated standards which prioritise sustainability and wellbeing, thereby enhancing asset value. This trend is encouraging property developers to include more ESG-compliant features, state-ofthe-art green technology and health and wellness amenities."

"With robust growth in online retail sales and the expansion of quickcommerce in the open-market sector, the imbalance between supply and demand is expected to be gradually addressed after 2025. "

"Logistics demand held up well during the COVID period due to operators refocusing on regional supply chain. Nevertheless, the sector faces many uncertainties in 2023 despite border reopening, with declining merchandise trades, slower-thanexpected retail recovery as well as the prolonged closure of borders diverting supply chains away from Hong Kong among the key issues facing the local logistics sector."