{"id":352156,"date":"2023-05-18T22:45:52","date_gmt":"2023-05-18T14:45:52","guid":{"rendered":"https:\/\/www.mingtiandi.com\/?p=352156"},"modified":"2023-05-18T23:05:44","modified_gmt":"2023-05-18T15:05:44","slug":"esr-gaw-ivanhoe-and-ppi-on-japan-logistics","status":"publish","type":"post","link":"https:\/\/www.mingtiandi.com\/real-estate\/events\/consumption-shift-drives-demand-rising-rents-for-japan-logistics-mtd-tv\/","title":{"rendered":"Consumption Shift Drives Demand, Higher Rents for Japan Logistics \u2013 MTD TV"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/player.vimeo.com\/video\/827876401?h=d665ed28fb\" width=\"780\" height=\"439\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe> Japan\u2019s logistics industry is enjoying steady growth after a long period of stagnation as a shift in consumption patterns bolsters demand for warehouse space and boosts rents, according to a panel of experts from ESR, Ivanhoe Cambridge, Gaw Capital Partners and Phoenix Property Investors speaking at an industry forum on Thursday.<\/p>\n<p>Known for its stable economy, Japan is undergoing a radical transition involving adoption of e-commerce, omnichannel distribution and cloud based services, with that change creating long-term demand for warehouse space,\u201d Pierre-Alexandre Humblot, managing director and head of private capital at ESR, said in an appearance at the Mingtiandi Asia Logistics Forum.<\/p>\n<div style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/ad.doubleclick.net\/ddm\/trackclk\/N6563.3378992MINGTIANDI\/B30546704.375324595;dc_trk_aid=566156183;dc_trk_cid=192150727;dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;ltd=;dc_tdv=1\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"Copy of APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real Estate\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/Copy-of-APAC_EN_Capabilities_Static_StandoutAPAC_780x250_Real-Estate-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><script language='JavaScript1.1' src=\"https:\/\/ad.doubleclick.net\/ddm\/trackimpj\/N6563.3378992MINGTIANDI\/B30546704.375324595;dc_trk_aid=566156183;dc_trk_cid=192150727;ord=+ Date.now();dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;gdpr=${GDPR};gdpr_consent=${GDPR_CONSENT_755};ltd=;dc_tdv=1?\" attributionsrc ><\/script><\/div>\n<p>\u201cJapan&#8217;s market is really at a turning point \u2013 for the longest time, it&#8217;s a market where there was no rental growth rate,\u201d Humblot said. Speaking of current conditions he said, \u201cWe have found that there were some markets where rental growth was topping 2 percent and that rental growth was positive across the board. Asset managers are seeing positive and possibly accelerating rental growth, which is a big deal in Japan.\u201d<\/p>\n<p>While agency data shows average warehouse rents having dipped slightly during the first quarter, Humblot said that despite any slowdown in the broader market, investment grade facilities are experiencing strong tenant demand.<\/p>\n<h3>Safe Haven<\/h3>\n<p>Speaking at the same industry forum, which was sponsored by Yardi, Laurent Fischler, head of investment for Asia Pacific at Ivanho\u00e9 Cambridge, noted that there is still a long runway ahead for Japan&#8217;s logistics market, as e-commerce penetration remains low compared to other developed markets, and there is still limited stock of modern warehouse facilities.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 25%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div data-carousel-extra='{\"blog_id\":1,\"permalink\":\"https:\\\/\\\/www.mingtiandi.com\\\/real-estate\\\/events\\\/consumption-shift-drives-demand-rising-rents-for-japan-logistics-mtd-tv\\\/\"}' id='gallery-1' class='gallery galleryid-352156 gallery-columns-4 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/real-estate\/logistics\/ping-an-real-estate-to-invest-over-300m-into-e-shang-redwoods-japan-projects\/attachment\/humblot1\/'><img decoding=\"async\" data-attachment-id=\"19542\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2016\/07\/humblot1-e1682668515904.jpg\" data-orig-size=\"250,237\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"humblot1\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2016\/07\/humblot1-e1682668515904.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2016\/07\/humblot1-e1682668515904.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2016\/07\/humblot1-e1682668515904-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Pierre-Alexandre Humblot\" aria-describedby=\"gallery-1-19542\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2016\/07\/humblot1-e1682668515904-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2016\/07\/humblot1-e1682668515904-90x90.jpg 90w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-19542'>\n\t\t\t\tPierre-Alexandre Humblot, Managing Director, Fund Management &#038; Capital, ESR\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/kwang-joon-kim-phoenix-property-investors\/'><img decoding=\"async\" data-attachment-id=\"350573\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Kwang-Joon-Kim-Phoenix-Property-Investors-e1683530005687.jpg\" data-orig-size=\"909,609\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Kwang Joon Kim &#8211; Phoenix Property Investors\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Kwang-Joon-Kim-Phoenix-Property-Investors-e1683530005687-400x268.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Kwang-Joon-Kim-Phoenix-Property-Investors-e1683530005687.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Kwang-Joon-Kim-Phoenix-Property-Investors-e1683530005687-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Kwang Joon Kim, Phoenix Property Investors\" aria-describedby=\"gallery-1-350573\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Kwang-Joon-Kim-Phoenix-Property-Investors-e1683530005687-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Kwang-Joon-Kim-Phoenix-Property-Investors-e1683530005687-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Kwang-Joon-Kim-Phoenix-Property-Investors-e1683530005687-260x260.jpg 260w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-350573'>\n\t\t\t\tKwang Joon Kim, Executive Director, Japan Investments, Phoenix Property Investors\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/panel-logistics-investment-in-japan-2023\/attachment\/laurent-fischler-ivanhoe-cambridge-250px\/'><img decoding=\"async\" data-attachment-id=\"349499\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/04\/Laurent-Fischler-Ivanhoe-Cambridge-250px.jpg\" data-orig-size=\"250,237\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Laurent Fischler &#8211; Ivanhoe Cambridge 250px\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/04\/Laurent-Fischler-Ivanhoe-Cambridge-250px.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/04\/Laurent-Fischler-Ivanhoe-Cambridge-250px.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/04\/Laurent-Fischler-Ivanhoe-Cambridge-250px-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"Laurent Fischler, Head of Investments, Asia Pacific, Ivanho\u00e9 Cambridge\" aria-describedby=\"gallery-1-349499\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/04\/Laurent-Fischler-Ivanhoe-Cambridge-250px-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/04\/Laurent-Fischler-Ivanhoe-Cambridge-250px-90x90.jpg 90w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-349499'>\n\t\t\t\tLaurent Fischler, Head of Investments, Asia Pacific, Ivanho\u00e9 Cambridge\n\t\t\t\t<\/dd><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.mingtiandi.com\/attachment\/joseph-chan-gaw-capital-2\/'><img decoding=\"async\" data-attachment-id=\"349629\" data-orig-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Joseph-Chan-Gaw-Capital-e1682992555616.jpg\" data-orig-size=\"731,436\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;,&quot;keywords&quot;:&quot;Array&quot;}\" data-image-title=\"Joseph Chan &#8211; Gaw Capital\" data-image-description=\"\" data-medium-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Joseph-Chan-Gaw-Capital-e1682992555616-400x239.jpg\" data-large-file=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Joseph-Chan-Gaw-Capital-e1682992555616.jpg\" width=\"150\" height=\"150\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Joseph-Chan-Gaw-Capital-e1682992555616-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" aria-describedby=\"gallery-1-349629\" srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Joseph-Chan-Gaw-Capital-e1682992555616-150x150.jpg 150w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Joseph-Chan-Gaw-Capital-e1682992555616-90x90.jpg 90w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/05\/Joseph-Chan-Gaw-Capital-e1682992555616-260x260.jpg 260w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/dt>\n\t\t\t\t<dd class='wp-caption-text gallery-caption' id='gallery-1-349629'>\n\t\t\t\tJoseph Chan, Managing Director, Principal \u2013 Investments, Gaw Capital\n\t\t\t\t<\/dd><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>Fischler said the real estate investment division of Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec aims to ramp up its exposure to Japan in general, especially in the residential and logistics sectors, due to the strong macro fundamentals supporting their growth.<\/p>\n<p>Ivanho\u00e9 Cambridge set up a <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/logistics\/ivanhoe-cambridge-pag-launch-400m-japan-logistics-jv\/\">$400 million logistics joint venture with PAG<\/a> two years ago, and Fischler said Japan\u2019s financial conditions offer attractive opportunities for fund investors looking for steady returns.<\/p>\n<p>\u201cIn a global environment with rising rates and inflation, obviously Japan has been a major outlier because you&#8217;re still looking at low interest rates, positive spreads between your cost of debt and your yields,\u201d he said, adding that it is one of the few markets with steady or falling investment yields.<\/p>\n<p>\u201cOccupancies remain reliably high, rent collections are always good. It&#8217;s very safe. Except for earthquake risk, it&#8217;s probably one of the least risky markets to invest in,\u201d he added.<\/p>\n<p>After entering Japan\u2019s logistics market late last year with the acquisition of a seven-asset portfolio from Blackstone, Joseph Chan, managing director and principal for investments at Hong Kong-based Gaw Capital said his firm is finding tenants ready to pay more to lease its space.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/oxford-ivanhoe-kic-savills-on-singapore-india-markets\/\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"14 NOVEMBER 2023 conrad centennial Singapore\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/11\/14-NOVEMBER-2023-conrad-centennial-Singapore-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>\u201cWhen we renew the tenancies, we&#8217;re still getting very decent rental growth,\u201d Chan said. \u201c(This) is very different from China, in Japan, at least in Tokyo, where most of our assets are based, we have got real rental growth today.\u201d<\/p>\n<p>Chan also pointed to the potential for exchange rate gains in Japan, which is drawing in investors as it continues to offer positive gearing, where financing costs are well below rental yields, as well as a stable economic environment.<\/p>\n<p>\u201cJapan is mature, it&#8217;s very steady. A lot of the tenants are also very loyal, they look at leases for a longer term and the rent does not fluctuate as much\u2026 The other mentality in Japan is it&#8217;s also very cost based.. they understand (inflation) so they are willing to adjust the rent upward based on the cost increases,\u201d he added.<\/p>\n<h3>Location is Key<\/h3>\n<p>Also testifying to the growth in tenant demand for well-positioned projects was Kwang Joon Kim, executive director for Japan investments at Phoenix Property Investors.<\/p>\n<p>Having acquired a logistics facility north of Tokyo in Ishikawa prefecture\u2019s Kanazawa City with 35 percent occupancy, Kim said his team was able to boost tenancy levels while still in due diligence for the acquisition. Having completely let out the facility within six months of closing, his team was able to sell the property on to a new owner just a half year after picking up the keys.<\/p>\n<p>Kim added that many of Phoenix\u2019 development and forward purchase logistics projects in Japan are also getting pre-leased well ahead of completion.<\/p>\n<p>\u201cThat&#8217;s a strong testament to the demand, but also we&#8217;re picking our locations very, very carefully. It&#8217;s really within key gateway cities where you have a population in excess of one to two million,\u201d he said.<\/p>\n<h3>Quiet Dealmaking<\/h3>\n<p>While Japan\u2019s mature market is supporting investment activity, transactions will likely be concentrated in smaller assets in the near term as there is still a big gap in price expectations between buyers and sellers, according to Gaw\u2019s Chan.<\/p>\n<p>\u201cFor larger portfolios, the pricing has to be right, but for smaller opportunities I see a lot of off market opportunities, so just from that perspective, I expect the transaction volume to be quite steady,\u201d he said.<\/p>\n<p style=\"text-align: center;\"><a data-no-instant=\"1\" href=\"https:\/\/www.mipim-asia.com\/?utm_source=mingtiandi&#038;utm_medium=barter_website&#038;utm_campaign=mipimasia2023\" rel=\"noopener\" class=\"adv-link\" target=\"_blank\" aria-label=\"AR-607487_Mipim Asia_23_Banner Resize 780&#215;250\"><img decoding=\"async\" src=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg\" alt=\"\"  srcset=\"https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1.jpg 780w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-400x128.jpg 400w, https:\/\/www.mingtiandi.com\/wp-content\/uploads\/2023\/10\/AR-607487_Mipim-Asia_23_Banner-Resize-780x250-1-640x205.jpg 640w\" sizes=\"(max-width: 780px) 100vw, 780px\" width=\"780\" height=\"250\"   \/><\/a><\/p>\n<p>Trades of logistics assets in Japan fell 10 percent to $4.52 billion in 2022 from $5.01 billion the year prior, according to data from MSCI. Last year\u2019s total was also nearly a third less than Japan\u2019s $6.4 billion average yearly transaction volume from 2015 to 2020.<\/p>\n<p>*Land prices have gone up. So it&#8217;s really getting more difficult to find the more attractive deals but if you look closely enough and source hard enough, those attractive opportunities still do present themselves,\u201d Kim said.<\/p>\n<h3>Sheds in Korea, Emerging Markets<\/h3>\n<p>Mingtiandi\u2019s Asia Logistics Forum will be back next week with a pair of panels, looking first at opportunities in South Korea, followed by a session on investment in Asia\u2019s emerging logistics markets.<\/p>\n<p>On Tuesday, 23 May, Sanghwoi Bae, chief executive officer of ESR Kendall Square REIT will join a panel discussion dedicated to Korea\u2019s logistics sector together with Harry Lee, managing director and Korean country head for Hines.<\/p>\n<p>Also adding their insights in the session will be Brad Gladu, a manager with JLL\u2019s capital markets team in Korea, as well as Leo Kwon, who heads the global platform investment team of IGIS Asset Management.<\/p>\n<p>In <a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/panel-logistics-investment-in-asias-emerging-markets-2023\/\">the emerging market session on 25 May<\/a>, Mingtiandi will welcome Fion Ng, chief operating officer of Vietnam\u2019s BW Industrial; Hari Krishna V, managing director for real estate with CPP Investments, who also is part of the Canadian pension fund manager\u2019s global leadership team; and Chong Chee Keong, general manager for industrial with Frasers Property Vietnam.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> Japan\u2019s logistics industry is enjoying steady growth after a long period of stagnation as a shift in consumption patterns bolsters demand for warehouse space and boosts rents, according to a panel of experts from ESR, Ivanhoe Cambridge, Gaw Capital&#8230;&nbsp;<a href=\"https:\/\/www.mingtiandi.com\/real-estate\/events\/consumption-shift-drives-demand-rising-rents-for-japan-logistics-mtd-tv\/\">Read&nbsp;More>><\/a><\/p>\n","protected":false},"author":12201,"featured_media":352158,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[3456],"tags":[5382,5167,1770,505,2716,8380,8400,5570],"ppma_author":[8848],"authors":[{"term_id":8848,"user_id":12201,"is_guest":0,"slug":"beatrice-laforga","display_name":"Beatrice Laforga","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/d4be689d8f5a82939d685df6ef171fcb?s=96&d=mm&r=g","user_url":"","last_name":"Laforga","first_name":"Beatrice","description":""}],"_links":{"self":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/352156"}],"collection":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/users\/12201"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/comments?post=352156"}],"version-history":[{"count":0,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/posts\/352156\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media\/352158"}],"wp:attachment":[{"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/media?parent=352156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/categories?post=352156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/tags?post=352156"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.mingtiandi.com\/wp-json\/wp\/v2\/ppma_author?post=352156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}