Building & Investment July-August 2020 by Building & Investment

ASIA’S LEADING ARCHITECTURAL, BUILDING & CONSTRUCTION MAGAZINE

KDN: PP 7080/10/2012 (030780) ISSN: 0128 472X RM20.00 / USD10.00 JULY-AUGUST 2020 www.b-i.biz

SWISSMA SANKO SEAMLOCK® COLORBOND® DOUBLE SKIN ROOF SYSTEM

ATLASSIAN SYDNEY HEADQUARTERS RAIL BALTIC ÜLEMISTE TERMINAL THE DISCOVERY SLIDES @ SINGAPORE

NAM HENG GLASS GROUP

DĂůĂǇƐŝĂΖƐ ůĂƌŐĞƐƚ ŐůĂƐƐ ƉƌŽĚƵĐĞƌ ǁŝƚŚ ŐƵĂƌĂŶƚĞĞĚ ƋƵĂůŝƚǇ ĂŶĚ ƐĂĨĞƚǇ ince its establishment in 1996, Nam Heng Glass Group has a ƐƚƌŽŶŐ ƉŽƐŝƟŽŶ ŝŶ ƚŚĞ ŵĂƌŬĞƚ ĂƐ the largest glass producer in Malaysia, with manufacturing plants located in Selangor, Negeri Sembilan, Johor Bahru, Penang and Sabah, with plans to further expand its corporate empire overseas. The company is renowned for its extensive ĐŽůůĞĐƟŽŶ ŽĨ ĂƌĐŚŝƚĞĐƚƵƌĂů ĂŶĚ ƐĂĨĞƚǇ ŐůĂƐƐ products namely tempered glass, laminated ŐůĂƐƐ͕ ŝŶƐƵůĂƟŶŐ ŐůĂƐƐ ĂŶĚ ŇŽĂƚ ŐůĂƐƐ͘ /Ŷ ĂĚĚŝƟŽŶ ƚŽ ƚŚĞ ůŽĐĂů ŵĂƌŬĞƚ͕ EĂŵ ,ĞŶŐ 'ůĂƐƐ Group’s products are also exported to Cambodia and Bangladesh. GLASS THAT BEAUTIFULLY BALANCE PERFORMANCE AND AESTHETICS Nam Heng Glass Group is an advocate and arguably a leading producer of safety glass in Malaysia. The company has obtained ĐĞƌƟĮĐĂƟŽŶƐ ĨƌŽŵ ƚŚĞ DĂůĂǇƐŝĂŶ /ŶĚƵƐƚƌŝĂů ^ƚĂŶĚĂƌĚƐ ŐĞŶĐǇ ;^/Z/DͿ ĂŶĚ ƚŚĞ ŽŶƐƚƌƵĐƟŽŶ /ŶĚƵƐƚƌǇ ĞǀĞůŽƉŵĞŶƚ ŽĂƌĚ ; / DĂůĂǇƐŝĂͿ ĨŽƌ ƚŚĞ ƋƵĂůŝƚǇ ĂŶĚ performance of its safety glass products, in compliance with the country’s standard ƌĞƋƵŝƌĞŵĞŶƚƐ ŽĨ ŐůĂƐƐ ďƵŝůĚŝŶŐ ŵĂƚĞƌŝĂůƐ͘

WHY SAFETY GLASS? ^ĂĨĞƚǇ ŐůĂƐƐ ŝƐ ƐƉĞĐŝĮĐĂůůǇ ĚĞƐŝŐŶĞĚ ƚŽ ďĞ ůĞƐƐ ůŝŬĞůǇ ƚŽ ďƌĞĂŬ ŝŶ ƚŚĞ ĞǀĞŶƚ ŽĨ ƐĞǀĞƌĞ ǀŝďƌĂƟŽŶ Žƌ ŝŵƉĂĐƚ͕ ĂŶĚ ůĞƐƐ ƉƌŽŶĞ ƚŽ ŝŶŇŝĐƟŶŐ ŝŶũƵƌǇ ǁŚĞŶ ŝƚ ďƌĞĂŬƐ͘ ^ŝŶĐĞ ƚŚĞ early 20th century, safety glass has been ǁŝĚĞůǇ ƵƐĞĚ ŝŶ ĂƵƚŽŵŽďŝůĞƐ͕ ĂŝƌĐƌĂŌƐ ĂŶĚ high-rise buildings. EĂŵ ,ĞŶŐ 'ůĂƐƐ 'ƌŽƵƉ ĨŽƵŶĚĞƌ͕ ĂƚƵŬ Tan Lai Huan, pointed out that many ĐŽŶƐƵŵĞƌƐ͛ ƵŶĚĞƌƐƚĂŶĚŝŶŐ ŽĨ ŐůĂƐƐ ŝƐ ŽŌĞŶ ůŝŵŝƚĞĚ ƚŽ ĂĞƐƚŚĞƟĐƐ͖ ƚŚĞ ƵƐĞ ŽĨ ŐůĂƐƐ ǁŝƚŚ ƐĂĨĞƚǇ ĨĞĂƚƵƌĞƐ ŝƐ ĨƌĞƋƵĞŶƚůǇ ŶĞŐůĞĐƚĞĚ ĚƵĞ ƚŽ ůĂĐŬ ŽĨ ĂǁĂƌĞŶĞƐƐ ĂŶĚ ƵŶǁŝůůŝŶŐŶĞƐƐ ƚŽ bear the extra costs. For this reason, the company adheres to the concept “Quality First, Safety First” when producing a new range of products. Safety glass produced by EĂŵ ,ĞŶŐ 'ůĂƐƐ 'ƌŽƵƉ ŝƐ ƐƵďũĞĐƚĞĚ ƚŽ ŵƵůƟͲůĂǇĞƌĞĚ ƐƚƌŝĐƚ ĐŚĞĐŬƐ ŝĞ ƐĂĨĞƚǇ ƐƚƌĞŶŐƚŚ ƚĞƐƚƐ ƚŚĂƚ ĐŽŵƉůǇ ǁŝƚŚ ŝŶƚĞƌŶĂƟŽŶĂů ƐƚĂŶĚĂƌĚƐ ĂŶĚ ƐƉĞĐŝĮĐĂƟŽŶƐ͕ ĂŶĚ ĂƵĚŝƚ ǀĞƌŝĮĐĂƟŽŶ ďǇ ƚŚŝƌĚͲƉĂƌƚǇ ĂŐĞŶĐŝĞƐ ƚŽ ĞŶƐƵƌĞ ƚŚĞ ƉƌŽĚƵĐƟŽŶ ŽĨ ƉƌŽĚƵĐƚƐ ŽĨ ƚŚĞ ŚŝŐŚĞƐƚ ƋƵĂůŝƚǇ͘ /Ŷ ĂĚĚŝƟŽŶ ƚŽ ĂĞƐƚŚĞƟĐƐ͕ ƐƚƌĞŶŐƚŚ ĂŶĚ safety, Nam Heng Glass Group stays ahead ŽĨ ƚŚĞ ĐŽŵƉĞƟƟŽŶ ďǇ ŬĞĞƉŝŶŐ ƵƉͲƚŽͲĚĂƚĞ with the latest consumer trends for high ƋƵĂůŝƚǇ͕ ĞŶĞƌŐǇ ƐĂǀŝŶŐ ĂŶĚ ďĞĂƵƟĨƵů ŐůĂƐƐ͕ ĂŶĚ ƚŚĞ ĐŽŶƐƚƌƵĐƟŽŶ ŝŶĚƵƐƚƌǇ͛Ɛ ƌĞƋƵŝƌĞŵĞŶƚƐ ĨŽƌ ŐůĂƐƐ ďƵŝůĚŝŶŐ ŵĂƚĞƌŝĂůƐ ǁŝƚŚ ĂĚĚĞĚ ĨƵŶĐƟŽŶƐ ƐƵĐŚ ĂƐ ŚĞĂƚ ŝŶƐƵůĂƟŽŶ͕ ƐŽƵŶĚ ŝŶƐƵůĂƟŽŶ͕ ĚĞĐŽƌĂƟŽŶ ĂŶĚ etc. /Ŷ ŚŽƉĞƐ ŽĨ ƉƌŽĚƵĐŝŶŐ ƚŚĞ ŵŽƐƚ ĂĚǀĂŶĐĞĚ ĂŶĚ ŚŝŐŚĞƐƚ ƋƵĂůŝƚǇ ŽĨ ŐůĂƐƐ ĨŽƌ ƚŚĞ ŵĂƌŬĞƚ͕ EĂŵ ,ĞŶŐ 'ůĂƐƐ 'ƌŽƵƉ͛Ɛ manufacturing plants uses the latest glass ƉƌŽĐĞƐƐŝŶŐ ŵĂĐŚŝŶĞƐ͕ ǁŝƚŚ ĮƌƐƚͲƌĂƚĞ ƉƌŽĚƵĐƟŽŶ ĐĂƉĂĐŝƚǇ ĂŶĚ ƋƵĂůŝƚǇ͘ dŚĞ

ĐŽŵƉĂŶǇ ĂůƐŽ ƐƚƌŝǀĞƐ ƚŽ ĐŽŶƟŶƵŽƵƐ ŝƚƐĞůĨ͕ ďǇ introducing value-added products from around the world including Low-E Glass and ^ŽůĂƌͲZĞŇĞĐƟǀĞ ŐůĂƐƐ͘

NHG GLASS INDUSTRIES SDN. BHD.(1291407-K)

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PUBLISHER B & I Worldwide Sdn Bhd EDITOR Eric Tan DEPUTY EDITOR Selina Messner

EDITOR’SNOTE The World Bank noted in its ‘Global Economic Prospects’ report that the on-going COVID-19 pandemic has caused the broadest collapse of the global economy since 1870; the world economy is projected to contract by 5.2% this year, the worst recession in 80 years.

ADVERTISING Josephine Lim

EDITORIAL CONSULTANTS

people jobless. Based on the Department of Statistics Malaysia, the country’s

Pete Wong

gross domestic product (GDP) grew at just 0.7%, down from 3.6% in the fourth

Christopher Fernandez

quarter of 2019. This is the lowest growth recorded since the third quarter of

SENIOR DESIGNER Mohamad Azhar Kasim

2009 – negative 1.1%.

PHOTOGRAPHER Jacky Lum

continue to forecast various doomsday scenarios for the remainder of 2020, but

CIRCULATION Tan Wee Aik

According to recent reports, there will disruption and challenges for the

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acceleration of vital megatrends.

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Dato’ Dr Ken Yeang

and consequently facilitate your business growth. With “going digital”

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This magazine and its contents are provided “as is” and “as available”, without warranty of any kind, implied, express or statutory. The Publisher does not warrant the accuracy, adequacy or completeness of the contents and expressly disclaims liability for errors or omissions in the contents. The content available in the magazine and its website represents the opinions and judgments of the respective information provider.

CONTENTS J U LY- A U G U S T 2 0 2 0

NEWS & EVENTS

CONCEPTS & DESIGNS

42 44 46

A round up of events and happenings within the industry

PROJECTS 18 20 24

Atlassian Sydney Headquarters Shijiazhuang Zhao Hua Hospital The Milestone

OUTLOOK 26

COVID-19 Impact on asia pacific real estate investment in first half of 2020

Ryogoku Yuya Edoyu Kyiv Food Market Vikasa On 24

LANDSCAPE 48

The Discovery Slides @ Singapore

REGULARS 04 52 64 66

Editor’s Note B & I Project Report Malaysia Exhibitions & Conferences Advertisers’ Index

INFRASTRUCTURE 28

Rail Baltic Ülemiste Terminal

PRODUCTS & SERVICES 32 34 36 38 40

CSC Steel: realcolor® Primero Nippon Paint: Trend Beyond Colours 2020/21! Midea Airstill IBS-Impact Certification Pan United Contactless Technologies

48 Building & Investment | www.b-i.biz 5

NEWS & EVENTS

Nippon Paint, Malaysia’s no.1 coating solutions provider, officially launched its e-commerce platform.

Nippon Paint launches Malaysia’s first e-store for the coatings industry Malaysia’s No. 1 coating solutions provider, Nippon Paint Malaysia has officially launched its e-store, the first e-commerce platform for a one-stop online shop for painting needs within the coatings industry in Malaysia. The new e-store aims to provide consumers with a seamless experience journey, as close to what one would experience when buying paint at a physical store. From paint category selection, colour selection, as well as painting tools, the e-store provides a step-by-step guide for customers. Customers can expect deliveries to be fulfilled within three to seven working days. Nippon Paint’s e-store is accessible via: https://shoponline.nipponpaint.com.my “The roll-out of Nippon Paint’s e-store was timely in response to the COVID-19 pandemic and consumers shift to prioritise their health and safety while observing social distancing. This is one of the many ways that we look to innovate and pivot during this unprecedented time, as we respond to the shifting needs of our customers,” said Gladys Goh, Group General Manager of Nippon Paint Malaysia Group. Through Nippon Paint’s e-store, customers will be able to access paint solutions closest to their locations and also get in touch with the Customer Engagement Advisory team for guidance and recommendation via Online Chat. Further, customers will be able to utilise features such as Paint Calculator and Paint Estimator to help provide better gauge on the right amount of paint required for their homes. Nippon Paint Malaysia has also hosted a Business Retail Transformation Talk for more than 150 business partners to share interesting insights on the changing consumer landscape in the coatings industry, and how they can remain relevant in today’s digitised business world. The new e-store is part of Nippon Paint’s transformation journey, which aims to continuously inspire consumers to be creative in the comfort of their own homes amidst the pandemic. Being the market leader in the coatings industry with a database of over 10,000 paint formulations and a network of more than 3,000 6 Building & Investment | www.b-i.biz

Gladys Goh, Group General Manager of Nippon Paint Malaysia Group.

dealers nationwide, Nippon Paint will continue to push boundaries and pivot, implement innovative solutions, opportunities for its consumers and business partners during this time. Winning the hearts of Malaysians for the 15th year running, Nippon Paint was recently awarded the Platinum Award for the Paint Category in the prestigious Reader’s Digest Trusted Brand Award 2020. This year marks Nippon Paint’s 5th year consecutive year of receiving the Platinum Award. The Reader’s Digest Award recognises consumers’ most trusted brands and industry players amongst various industries across 5 countries including Malaysia, Singapore, Philippines, Taiwan and Hong Kong.

Star Residences’ biggest Mosaic Tiles Wall Mural Art.

Star Residences shines with Malaysia Book of Records entry for biggest mosaic tiles wall mural art

The RM3 billion Star Development located on Jalan Yap Kwan Seng in the KLCC Central Business District of Kuala Lumpur continues its award-winning, record-setting ways with an artful entry into the Malaysia Book of Records for the nation’s biggest mosaic tiles wall mural art, which is visible from up to two kilometers away. The three imposing 3-storey mural walls with a combined length of 58.77meters are installed on the highest floor of the three towers comprising Star Residences, a 57-storey tower and two 58-storey towers, including the Ascott Star KLCC Kuala Lumpur. The stunning glass tile works in a bold palette of platinum, gold, white and black hark back to opulent Roman murals but with a contemporary twist. Inspired by nature, myth and environmental conservations the abstract installation was envisioned and conceptualized by the Chief Executive Officer of Alpine Return Sdn Bhd, Mr Alan Koh. “Place making sets Star Residences apart making it aspirational icon of the KLCC area. We challenged ourselves to create a visual narrative that could capture the opulence, elevation and brightness of Star Residences. We believe that these majestic glass tile mosaic mural walls art, the longest and the tallest at an elevation of over 250 meters are a first in Malaysia, and possibly in the region. This is a gift to our residents and guests, and to visitors to Kuala Lumpur as it is visible from afar,” Mr Alan Koh says.

Alan Koh (CEO of Alpine Return Sdn Bhd) received the award certificate from Jwan Heah Yeow Hooi (Director, Business Development of Malaysia Book of Records).

The process of assembling the mega murals took three months, and a further two months to install by hand. Approximately 6.7 million Mozetti Classic mosaics were used to bring the three murals to life with detailed colour transitions for a seamless finish. Total costs for the project is estimated at RM1.5million. Alpine Return Sdn Bhd is a 50:50 joint venture company between established Malaysian property developers, Symphony Life Bhd and United Malayan Land Bhd (UM Land). Building & Investment | www.b-i.biz 7

NEWS & EVENTS

Grundfos proceeds to acquire Eurowater Grundfos has entered into an agreement to acquire Eurowater, adding to its value proposition within the water treatment business. “Eurowater brings a broad portfolio of solutions and a deep understanding of water treatment applications and endusers. This will enable us to strengthen our value proposition to customers. When complete, this acquisition will further advance us in our important work to address water challenges on a global scale,” says Ulrik Gernow, Group Executive Vice President, CMO, at Grundfos and continues: “Eurowater is an outstanding company and we are truly impressed by its organization and the people we have met”. The Eurowater and Grundfos businesses share many similarities, including a sharp focus on innovation and offering high-quality products and value-added services to customers. “A better buyer does not exist! It is with peace of mind that we leave ownership of our life’s work to Grundfos. We took over the company 17 years ago from the Scherfig family, who has owned the company since its foundation in 1936. With the global reach and presence of Grundfos and our extensive experience in producing first class products, we see great opportunities to boost the development of innovative and water efficient solutions to the benefit of our many customers,” says Torben Buhl, Managing Director for Eurowater. Headquartered in Denmark, Eurowater serves primarily the European markets with a range of water treatment offerings, with a focus on customers in the industrial and municipal sectors.

Grundfos’ new iSOLUTIONS lab is the first of its kind by the company in Asia-Pacific.

The transaction is subject to regulatory approvals and is expected to be closed during autumn 2020.

CIDB-SOCSO organise COVID-19 testing session, attracting 700 foreign construction workers More than 13,000 foreign workers in the construction sector have undergone COVID-19 testing under the SOCSO Prihatin Screening Programme (PSP) since it was launched on 27 April 2020. In line with the government’s directive to provide targeted testing, PSP has conducted COVID-19 testing for foreign workers working in the construction and security service sectors in Kuala Lumpur and Selangor. To date, 33,613 foreign workers across sectors have undergone the COVID-19 testing, of which 40% are from the construction sector. In an effort to encourage more contractors to send their foreign workers for COVID-19 testing, the Construction Industry Development Board Malaysia (CIDB) has collaborated with SOCSO to organise a group testing session at CIDB Convention Centre on 5 July 2020. The initiative has successfully attracted participation from 700 foreign workers from 59 construction companies from Kuala Lumpur, Putrajaya and Selangor. With effect from 1 June 2020, the scope of PSP has been expanded including the provision of a subsidy of up to RM150 per test to employers who had conducted the COVID-19 testing for their employees, who are SOCSO contributors, and the COVID-19 tests are conducted in any clinic or hospital approved by the Ministry of Health. 8 Building & Investment | www.b-i.biz

For employees who have not yet contributed to SOCSO, they can register as contributors prior to the testing. CIDB Malaysia also called on all contractors in the areas stated to send their foreign workers for COVID-19 testing through the PSP programme.

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Sin Chew Business The BrandLaureate 2015 - 2016 Excellence Awards 2016 – President’s Award – Product and Service Excellence

The BrandLaureate 2016 - 2017 – Most Sustainable Brand Award

The BrandLaureate 2017 - 2018 – Most Valuable Brand

Building & Investment | www.b-i.biz 9

NEWS & EVENTS

KITA Ria - affordable yet spacious serviced apartments to build lifetime memories with your families.

LBS successfully launched another project in KITA @ Cybersouth LBS Bina Group Berhad (LBS) sets off with an unprecedented take-up rate for KITA Ria serviced apartment, with its first block already fully booked. Due to the strong demand, LBS has subsequently open second block for sale. This overwhelming response is a testament that LBS projects meet consumer’s demand on affordable homes that comes with facilities and amenities. Sited on a Malay Reserved Land township KITA @ Cybersouth, KITA Ria is set to bring in an estimated Gross Development Value (GDV) of RM268 million. In a statement, LBS Group Managing Director Tan Sri Lim Hock San said, “This 22-storey serviced apartment, with a total of 812 residential units, offers practical built-up of 602 and 901 sq ft – with prices start from RM250,000 and RM343,800 respectively. This apartment is thoughtfully designed to provide practical spaces that are comfortable, while equipped with various facilities and communal area such as adult and kids swimming pools, outdoor gymnasium, multipurpose court, and takraw court.” Tan Sri Lim also stated that the reintroduction of HOC will reduce the burden of homebuyers significantly, and LBS #DudukRumah Deals Plus Campaign will further incentivise home ownership. 10 Building & Investment | www.b-i.biz

“LBS has established a solid foundation in crafting homes with conducive environment for people. Affordability, connectivity and community living - are the three core pillars that LBS embraces when we curate our products. KITA Ria is an affordably priced home with good connectivity as well as sustainable environment that promotes family bonding and community living. With such positive market response, we are really happy that many families and individuals found new homes in KITA Ria.” Tan Sri Lim elaborated, “Since its first launch in April 2019, KITA @ Cybersouth township has been and remains a focus for LBS. Almost all units KITA Bayu – comprised of double storey terrace house and townhouse were sold out. In addition to these, KITA Harmoni’s double storey terrace house has a takeup rate of 75%; meanwhile 964 units of KITA Impian’s serviced apartments were fully sold.” KITA @ Cybersouth is a 633 acres township development located within the growing Southern Klang Valley. It is easily accessible via major highways and within close proximity to various key public amenities such as commercial hubs, financial institutions, local and international higher education institutions, governmental administration centre, international airport, healthcare providers and many others.

Platinum Victory launches Vista Danau Kota, its latest affordable urban project In line with Malaysia’s national agenda and increasing market demand for affordable homes, Platinum Victory will be launching their latest Vista Essential Homes project, Vista Danau Kota, a development set within 3.721 acres of land area. The project is under the Affordable Housing Scheme (RUMAWIP) that sits comfortably in the prime locality of Setapak, Kuala Lumpur. Vista Danau Kota is a one-block development comprising 910 units priced at RM300,000. “As a seasoned property developer in the industry for over two decades, Platinum Victory understands the market needs, without compromising the fundamental elements that most consumers look for in a property: location, value for money, convenience and accessibility. In this regard, Vista Danau Kota checks these boxes and at the same time, makes the most of the space allotted for a practical living. This affordably-priced development means many Malaysians are eligible to apply and potentially own a house in this much-anticipated development,” said Gan Yee Hin, Executive Director of Platinum Victory. This affordable home is equipped with lifestyle facilities such as swimming pools for adults and kids, a multipurpose hall, laundry room, surau, community space, nursery, shop lots and 24-hour security - making for a comprehensive and comfortable living experience in an urban setting. This latest offering is also a short drive away to a network of public transportation and has direct access to major expressways with the likes of Middle Ring Road 2 (MRR2), Lebuhraya DutaUlu Kelang (DUKE) and Jalan Genting Klang. It is also within close

proximity to a number of commodities, educational institutions and healthcare amenities, as well as numerous recreational attractions and cultural hotspots. “In the pipeline, we have other upcoming projects that cater to homebuyers under Platinum Victory’s Vista Essential Homes segment. With the national agenda’s focus on affordable homes, understandably, this particular category of homebuyers would be one of Platinum Victory’s key target markets as well,” Gan concluded. Vista Danau Kota will be officially launched on 4th July 2020, with its sales gallery open for public enquiries and show unit for viewing. Building & Investment | www.b-i.biz 11

NEWS & EVENTS

From left: Mdm Nur Aiena (HS) receiving the PPE from Ar Mumtazah (PAM).

PAM donates 1,000 sets of PPE to Hospital Serdang Pertubuhan Akitek Malaysia (PAM), the professional body for architects in Malaysia, has handed over 1,000 sets of personal protective equipment (PPE) for medical frontliners in Hospital Serdang recently. PAM’s Architect members and staff donated the funds for the materials in this joint collaboration with the Malaysia Bumiputra Designer Association (MBDA), whose volunteers designed and sewed the PPE. PAM Community & Social Responsibility Chair, Ar Mumtazah Mustajab, who handed over the PPE at the hospital said, “We are grateful for the noble efforts of our medical frontliners who are working tirelessly to deal with the outbreak.” She said the donation of PPE is one of PAM’s initiatives during the MCO/CMCO period, which included rallying architect and engineer volunteers to assist the Government in identifying buildings to be converted into temporary quarantine centres. According to PAM President, Ar Lillian Tay, the public health crisis has compelled a revisit on how we design our buildings, homes, and workplaces as well as our 12 Building & Investment | www.b-i.biz

living environment, especially in big cities. She also called for city authorities to focus on creating healthier cities and towns in the post-COVID future, in setting out the Structure Plan and Local Plans for our cities. “We need our Government and local authorities to ensure there are more easily accessible urban parks and public squares in our increasingly high-rise, dense cities and to ensure that when we live and work in the city, we are always within walking distance of green open areas.” Ar Lillian Tay also said that PAM has called for the forthcoming COVID-19 Bill to provide temporary relief measures, such as short-term insurance coverage. This will help employers to protect their employees who may face additional health risks in their jobs as businesses start to operate and return to normal before the public health situation is over. “The pandemic crisis has also brought to light the conditions of construction workers’ housing. Our authorities through CIDB, Ministry of Works and Ministry of Human Resources have already in place regulations and standards on workers’ housing including the latest amendments

PAM President Ar. Lillian Tay.

passed last year to the Workers’ Minimum Standards of Housing & Amenities Act 1990 (Act 446),” said the PAM President. “However, the recent issues on outbreaks in workers’ housing show there is a need for increased enforcement to ensure that such regulations are adhered to by their employers. These include the contractors or labour sub-contractors who are responsible for ensuring that construction workers are always properly housed and not just in the present COVID-19 pandemic,” she added.

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TEL: +603 7666 7666 www.inovarfloor.com/my 20B & D, Jalan Penchala, 46050 Petaling Jaya, Selangor Building & Investmentâ&#x20AC;&#x201A; | www.b-i.biz 13

NEWS & EVENTS

Bentley Systems’ Acceleration Fund launches The Cohesive Companies, advancing infrastructure digital twins to improve asset performance Bentley Systems, Incorporated, a leading global provider of comprehensive software and digital twins services for advancing the design, construction, and operations of infrastructure, recently announced that its Acceleration Fund has launched The Cohesive Companies, a wholly owned subsidiary, anchored by the acquisition of Atlanta-based Cohesive Solutions. The new business venture will include the services team from Bentley’s AssetWise business and the offerings of Bentley, Cohesive, and IBM’s Maximo to support the digital transformation of infrastructure owner-operators. The Cohesive Companies will act as a digital integrator to help infrastructure asset owners upgrade their enterprise environments to leverage digital twins – digital representations and simulations of a physical asset, synchronizing digital context (current existing conditions), digital components (engineering content), and digital chronology (lifecycle change management). Infrastructure digital twins can empower asset operators with immersive visualization and analytics visibility to predict and optimize performance. Cohesive Solutions is the largest North American reseller of IBM’s Maximo enterprise asset management (EAM) software. With a successful track record of delivering integrated EAM solutions for owner-operators in utilities, energy, and facilities sectors, Cohesive Solutions’ domain expertise and consulting capabilities can now be extended to advance EAM to infrastructure digital twins. As digital integrators for infrastructure asset performance, The Cohesive Companies’ unique charter is the convergence, through digital twin cloud services, of digital engineering models (ET), with IT and OT, for infrastructure and facilities assets. Asset performance digital twins can provide continuous operational insights, enhanced through machine learning, for reliability, efficiency, compliance, safety, resilience and decision support to adaptively sustain and advance fitness for purpose.

Noah Eckhouse, SVP Bentley Systems, and CEO of The Cohesive Companies.

Noah Eckhouse, SVP Bentley Systems, and CEO, The Cohesive Companies, said, “Infrastructure asset owners know their success in going digital is based on both technology as well as experienced and dedicated resources for change management. I’m excited to fully meet the opportunity for asset performance digital twins with Bentley Acceleration Fund’s substantial commitment to this digital integrator venture.” George Lowry, President, Cohesive Solutions, said, “The Bentley Acceleration Fund’s digital integrator initiative for advancing infrastructure – by combining world-class software with best practices consulting, in going digital for asset performance – completes the reach of our mission, from the start, at Cohesive Solutions. Our founders are delighted to now extend our scope, as a long-standing IBM Business Partner, to include advancing Maximo with Bentley’s digital twin cloud services.”

AT Systemization acquires Pearl Glove Sdn Bhd for RM22 million AT Systemization Bhd (ATS) has announced that it has signed a Share Sale Agreement (SSA) to acquire 100% of Pearl Glove (Malaysia) Sdn Bhd (PGSB), for an amount of RM22 million. In a statement, it said the immediate outlook for Pearl Glove’s existing business, as a trusted and tested OEM/ODM manufacturer of safety gloves is extremely positive as the demand for the industrial safety gloves increases proportionately with improving workplace health and safety practices globally. With the proposed acquisition, ATS said it intends to turn PGSB into a full-fledged medical grade nitrile examination gloves manufacturer, capable for producing up to 3 billion pieces of gloves, within 36 months. 14 Building & Investment | www.b-i.biz

ATS also added that the current market conditions are extremely favourable for turnkey operators to begin new production lines to take advantage of spot prices of gloves. Excess demand provides new players with opportunities, with the top four producers’ supply lines booked solid into 2021. “With ATS’ existing engineering facilities already primed for industrial automation systems, the synergies of the acquisition are manifold,” it added. Increased health standards, workplace health and safety standards and a shift to more automated and precision style engineering for manufacturers will allow ATS to be fully exposed as a full-fledged participant.

SHARP Electronics (M) Sdn Bhd Managing Director (sixth from left) trying out Remote Fitness, one of SHARP’s Remote Life Solutions.

SHARP new remote life solutions, ecosystems to spur economic momentum Sharp Electronics (Malaysia) Sdn Bhd (SHARP) sees great opportunity for its technology and solutions to aid the nation’s recovery. Evolving with present day needs, SHARP is determined to help users, in businesses, classrooms, and households, to embrace the new normal through an ecosystem of solutions, debuted at the SHARP Virtual Dealer Convention recently. “Over the past few months, the whole world has been driven to adopt digital solutions faster than we’ve ever seen before. Given the current emphasis on seamless communication and safety of consumers as we embrace the ‘new normal’, the introduction of SHARP’s Remote Life concept this year is intentional and timely for smarter and connected environments in classrooms and offices,” explained Executive Managing Officer, Deputy Chief Executive Officer, ASEAN Business and Chairman, SHARP Electronics (M) Sdn Bhd, Robert Wu. The new Remote Life concept comprises three solutions for three key areas namely, Remote Meeting for businesses, SHARP Remote Education Systems for classrooms and Remote Lifestyle for the general user or household to operate effectively and safely in the new normal. To support the recovery of businesses within its dealer network, SHARP also took to opportunity to introduce its new e-commerce platform, eSHARP, at the virtual convention. Setting itself apart, SHARP developed eSHARP to drive revenue back to dealers. “Our eSHARP platform represents a ‘second floor’ retail business concept for our customers to shop at and extend our authorised dealers’ physical store presence and compliment their business. Customers are assured of a secure online shopping experience and peace of mind knowing the quality of genuine

From left: SHARP Electronics (M) Sdn Bhd Managing Director, Ting Yang Chung, and Deputy Managing Director (Sales Division), Tok Sang Man, introducing eSHARP, the new e-commerce platform, at the virtual convention.

SHARP products from authorised dealers. This new business strategy will help our dealers gain online revenue and enhance customer engagement,” explained Wu. The consumer electronics solutions giant also announced at the virtual convention its plans to debut a new product line-up including its signature BIG AQUOS TV range and home appliances this year. Determined to grow its market share, SHARP also highlighted its partnership with BACFREE® to introduce water products. The partnership will complement SHARP’s ‘Air of Confidence’ Solutions comprising of Air Purifiers, Air Conditioners and Air Cooler products fitted with Plasmacluster technology. SHARP aims to retain its position as the no.1 Japanese brand in Malaysia. Its growth strategy for the future is supported by a strong market presence and SHARP plans to leverage further on business partnerships or co-branding of new businesses or products. These will diversify and expand the SHARP brand presence and portfolio to better serve the evolving needs of customers. Building & Investment | www.b-i.biz 15

NEWS & EVENTS

Korea’s Dr Clo makes timely Malaysian debut After selling out over 1.5 million units to households across Asia in 2019, Dr Clo has made its debut in Malaysia and is now available on the shelves of selected pharmacies and via e-commerce platforms. An innovation from South Korea’s NON Corporation, these multi-purpose patented portable sterilisation devices are customised for use in various aspects of modern lifestyles. It is the only liquid-based Chlorine Dioxide product in the world certified by the US Food and Drug Agency (FDA). Chlorine Dioxide is a key agent to sterilise, sanitise and disinfect viruses and pathogens in a matter of seconds. The product has also been widely tested in both Korea and Japan and is registered as a safe product for use in the general living spaces. Its debut in Malaysia is timely, given the heightened health and safety concerns both locally and globally as the COVID-19 pandemic has generated much interest and awareness among consumers worldwide and in Malaysia on the importance of cleaner air and environment. Dr Clo’s range of sterilisation devices offers all-in-one solution that is carcinogen-free and contains non-toxic material, while acting as a potent formula and preventive measure against viruses, bacteria and pathogens. Yet, it is harmless to infants, the sick and the elderly alike. The easy-to-use Dr Clo sterilisation device just requires the user to hold both ends of the sterilisation device and bend it once to break the capsule inside. The indicator will turn yellow within 12-24 hours once activated. It is then mounted at the desired

Keep food fresh, Dr. Clo can! Suppresses the growth of moulds and extends food freshness. No carcinogens, safe to store with food.

Refrigerated for 10 days

Dr. Clo in use

not in use

Dr. Clo in use

not in use

Refrigerated for 45 days

(Source: drclohk.com)

16 Building & Investment | www.b-i.biz

Dr Clo sterilisation devices are available in four variants for home, bathroom, refrigerator and car.

location using the suction holder provided. The device can be used for up to 50 days and then can be replaced with a new one. Dr Clo sterilisation devices are available in four different variants – Home, Bathroom, Refrigerator and Car. The Home variant is ideal for living spaces or even office spaces since it sterilises space and eliminate odours generated from food waste, mould and smoking. It is also handy for use in shelves, closets and in shoe cabinets to secure an odour-free storage space. Meanwhile, the Bathroom variant has been specifically designed for use in humid and wet bathrooms and showers. The Refrigerator variant can be used both for refrigerators and chillers to seal in freshness of food and drinks stored there as well as ensure bacteria-free storage space for longer periods, while eliminating unpleasant odours. The Car variant, which can withstand heat, is available for vehicles as it sterilises the vehicle’s interior, while removing any odour generated through the air-conditioner. Malaysians can now certainly look forward to a revolution in personal sterilisation, disinfection and deodorisation that is safe and effective in protecting the family’s personal space and lifestyle.

Underwriters Laboratories Inc.

Building & Investmentâ&#x20AC;&#x201A; | www.b-i.biz 17

PROJECTS

PROJECT AT A GLANCE Classification: Commercial Location: Sydney, Australia Approx. Project Cost: $1 billion Approx. Commencement Date: 2020 Approx. Completion Date: 2025

ATLASSIAN SYDNEY HEADQUARTERS

ustralian tech giant Atlassian has announced plans to build the world’s tallest hybrid timber building in Sydney, which will serve as its new headquarters. The building will be around 40 storeys high and accommodate up to 4,000 of Atlassian employees when complete in 2025. It is part of the New South Wales Government’s plan develop a new tech precinct at Central station, expected to host 25,000 workers. Atlassian is the first anchor tenant to sign up to the plan, and has chosen New York-based architect SHoP, and Australian practice BVN as the design team of its new building. DEVELOPMENT COMPOSITION The new Atlassian headquarters features a ground-breaking design of timber, with a glass and steel façade that include a mix of outdoor and indoor spaces, and uses an energyefficient approach that features natural ventilation and large planted terraces giving access to nature. The existing Railway Square YHA at the site will be revitalized and incorporated into the lower levels of the new building. The existing heritage parcel shed will also be incorporated into the development. In line with Atlassian’s commitment to operate on 100%

18 Building & Investment | www.b-i.biz

CREDIT LIST CLIENT: ATLASSIAN CORPORATION PLC ARCHITECT: SHOP ARCHITECTS & BVN ARCHITECTURE C&S ENGINEER: ECKERSLEY O’CALLAGHAN & TTW

Artist impression: Atlassian’s new headquarters sets to become the tallest hybrid timber building in the world. (Source: SHoP Architects and BVN)

Artist impression.

(Source: SHoP Architects and BVN)

Artist impression.

(Source: SHoP Architects and BVN)

Artist impression.

(Source: SHoP Architects and BVN)

renewable energy and reach net zero emissions. The project will target: • 50% less embodied carbon in construction compared to a conventional building. • 50% less energy consumption compared with a new conventionally operated building and solar panels in the vertical facades, to generate green power on-site. • The building will operate on 100% renewable energy from day one and include solar panels built into the façade. “Our collective work around the world focuses on elevating the experience of the public realm in urban environments, so we really welcome this opportunity to work with such wonderful partners to create a high-performance landmark for Sydney's new tech district, at ground level and in the skyline,” said Bill Sharples, Founding Principal at SHoP. Coren Sharples, SHoP Founding Principal, said, “Atlassian brought

together an amazing team of global leaders in innovation to develop the criteria for this project, and we SHoP and BVN are thrilled to be able to play a part in contributing the iconic architecture that will complete that vision.” The building is leading edge in its application of Mass Timber Construction (MTC). MTC is one of the most hopeful technologies in moving the construction industry toward real solutions to the global climate crisis. The novel hybrid timber structure is significantly lower in embodied carbon and offers a substantial reduction in the building’s carbon footprint. This is assisting Atlassian’s goal of achieving net zero carbon emissions by 2050. In addition, the timber provides a warm and inviting environment for Atlassians and visitors. Measuring at approx. 180 metres / 590 feet high - this will be the tallest commercial hybrid timber building in the world. SHoP/BVN found an elegant way to tie a structural element of the building to one of the building’s most aesthetic attributes

Artist impression.

(Source: SHoP Architects and BVN)

– the façade. The tower includes a steel exoskeleton that supports the mega floors between neighbourhoods. The current design also incorporates an electricitygenerating façade system with self-shade capabilities to reduce direct heat gain internally. Combined with the use of mass timber, the innovative façade enables the project to leverage Sydney's temperate climate to help reduce carbon emissions and generate on-site energy. Park spaces have been integral in the design of this workplace, creating a staggered outdoor garden in a Sydney high rise tower. Level 1 communal activities are located at the first of the elevated parks of the tower, providing protected outdoor spaces that will be comfortable all year round. Combined with the novel use of mass timber, the innovative façade enables the project to leverage Sydney's temperate climate to reduce carbon emissions by 50% over a 10 years period. (Source: businessinsider.com.au and architectmagazine.com)

Building & Investment | www.b-i.biz 19

PROJECTS

PROJECT AT A GLANCE Classification: Medical Location: Shijiazhuang, China Approx. Project Cost: Undisclosed Approx. Commencement Date: Undisclosed Approx. Completion Date: Undisclosed

SHIJIAZHUANG ZHAO HUA HOSPITAL

ur planet’s population is now going through the biggest shared experience in decades due to COVID-19, and the way people think about life and illness today is incomparable with any time in history. Prolonged social distancing has cast a limelight on the importance of mental health as part of our wellbeing. People’s expectations for medical buildings have gone beyond equipment and technicalities and been more focused on their ability to encourage positivity. There have also been calls for a greener and more humanised environment. Philip Wong, LWK + PARTNERS Director who leads the practice’s Healthcare and Senior Living Team, shares the trends of healthcare spaces and the role of design in improving people’s experience in these complex facilities, using his latest project Shijiazhuang Zhao Hua Hospital Development in China as a prime example. DEVELOPMENT COMPOSITION As medical practitioners take increasingly holistic approaches to healing and rehabilitation, a green, welcoming vibe is now considered essential to the health and wellbeing of all users. “Contemporary architecture has taken up the mission to heal,” noted Philip, who has over 18 years of experience designing and

20 Building & Investment | www.b-i.biz

CREDIT LIST CLIENT: HEBEI ZHONGHONG RUIYUE REAL ESTATE DEVELOPMENT CO., LTD. ARCHITECT: LWK + PARTNERS

Artist impression. (Source: LWK + PARTNERS)

Artist impression: Shijiazhuang Zhao Hua Hospital. (Source: LWK + PARTNERS)

more advanced building technologies mean that landscaped spaces are now a positive element in less sensitive areas. All these lead to a more relaxed or less pressured feeling to the space and hence higher positivity being associated with the healing experience.”

Artist impression. (Source: LWK + PARTNERS)

managing healthcare and senior housing projects in Hong Kong and throughout Southeast Asia. Shijiazhuang Zhao Hua Hospital is more than just a place to see the doctor, it is also a dynamic community landmark with lush greenery where people come to restore their minds and souls. The complex has a Gross Floor Area of 206,460sqm; it has 10 levels including two levels underground, housing various facilities including a general hospital, a rehabilitation hospital, a children hospital, a postpartum care centre and a specialist clinic, as well as an array of facilities serving multiple community functions. Philip sees a global trend to have larger portions of civic, cultural and green

spaces in healthcare facilities. At Zhao Hua, the team takes a patient-oriented approach to create a space that promotes wellness from all dimensions. They bring in extensive open areas, terraced gardens, sunken plazas, retail spaces and even teaching facilities and event venues into the programme, making up a pleasant and inclusive environment not only for patients, their families and staff, but for overall community to enjoy. “In the past,” he said, “spaces like chapels, rest areas and activity rooms were tucked away in corners, whereas today they are made more exposed to the visitors. Plants used to be banned in the main areas of hospitals due to concerns of drainage and bacteria growth, but

Restoration For Body And Mind “The Zhao Hua project is designed to evoke life, energy and movement,” said Philip, “Its architecture takes inspiration from mountain landscape and diverges from the usual rectangular form, resulting in a distinctive design that blends with nature.” Buildings adopt a streamlined design, creating harmony with the community and reiterating a smooth internal circulation. Facades incorporate natural materials such as stone and terracotta, featuring vertical lattices that come in a series of light-hearted, dynamic colours. Lighting and ventilation are critical to creating a comfortable space. Depending on the types of patient intakes and the operator’s model of care, this may affect interior layouts as well as elevation design, corridor arrangements and more. “Rooms at Zhao Hua are all designed according to international standards,” said Philip, “They are south-facing to optimise natural lighting and ventilation, while natural light is also regulated through layered lattices on the facades before it comes through the windows.” Building & Investment | www.b-i.biz 21

PROJECTS

Artist impression: The project takes a patient-oriented approach to will upend the traditionally depressive atmosphere of hospitals.

(Source: LWK + PARTNERS)

Design For Efficiency Circulation planning is key to the operations of medical facilities as it ensures efficient delivery of patients, supplies and equipment. ‘Clean’ and ‘dirty’ items are to flow through separate routes without crossing, while the visitor traffic must be diverted and discharged to avoid disrupting the operations. At Zhao Hua, this is even more critical as a larger pool of people from the public is drawn into the complex due to its rich community functions. “We came up with a decentralised design,” Philip explained. “Each building has its own entry points. Healthcare users are quickly directed to their intended department, rather than waffling through crowds of people and numerous wards before arriving at their destination, which is normally the case in mainland China. Every building has its own theme colour and distinctive icons, further assisting way-finding.” Rehab Becomes Mainstream According to the World Health Organization, rehabilitation is ‘a set of interventions needed when a person is experiencing or is likely to experience limitations in everyday functioning due to ageing or a health condition’. Establishing a system of good rehab services can reduce both the length of hospitalisation and the risk of readmission. “Rehab is gaining traction in mainland China, where the public healthcare system is facing a lot of pressure,” said Philip. “In many parts of the world, especially where the population is ageing, it is also becoming a more accepted part of daily life and a vital component for integrated healthcare.” Architects are not only reserving larger areas in their projects for rehab, but rendering their built and landscaped areas friendly for chronic patients. 22 Building & Investment | www.b-i.biz

CMY

Artist impression. (Source: LWK + PARTNERS)

“In some developments, pavements are designed in loops to help those with dementia stay in focus,” shared Philip. “And the pavements are kept simple to allow exercise spaces for the injured.” These principles are also extending from healthcare spaces to residential and institutional planning to account for the needs of elderly people, chronic patients and people with disabilities. People recover best where services are efficient, facilities are friendly and care is at hand. Future healthcare spaces, therefore, are tasked with helping people support each other, activating the right energies and keeping them flowing. (Source: LWK + PARTNERS)

Penang Second Bridge

Conventional Fixed-Base System Seismic Isolation System

High Damping Rubber Bearing (Seismic Base Isolator) for Buildings & Bridges

Claudio Vicuna Hospital, Chile

MS ISO/IEC 17025 TESTING SAMM NO.372

Building & Investmentâ&#x20AC;&#x201A; | www.b-i.biz 23

PROJECTS

THE MILESTONE PROJECT AT A GLANCE Classification: Mixed Development Location: Stuttgart, Germany Approx. Project Cost: Undisclosed Approx. Commencement Date: 2018 Approx. Completion Date: To Be Announced

Artist impression: Dutch firm MVRDV has unveiled ‘crystal rock’ design for The Milestone, a 6,500sqm mixed use office building in Esslingen am Neckar, Stuttgart, Germany.

urope consists of thousands of small towns that compete for recognition. This include Esslingen am Neckar, located in the Stuttgart Region of BadenWürttemberg in southern Germany. Esslingen am Neckar is widely considered to be one of the most beautiful cities, where medieval half-timbered houses and innovative architecture meet in perfect harmony that has become a symbol for the diversity of its citizens and culture. Dutch firm MDRDV has recently announced plans for The Milestone, a new mixed-use office building in the “Neue Weststadt”, a former freight depot with a diverse industrial history. Featuring a distinct, part-reflective “crystal rock” facade and open geometric core, the building sets to become a new landmark for the city. The project was commissioned by RVI GmbH, a developer based in Saarbrücken, Germany, and the construction is scheduled to begin in 2020. DEVELOPMENT COMPOSITION Formally known as “Block E”, The Milestone building marks the center of this newly developed district, which will further accommodate a university, housing developments and retail stores. In total, The Milestone will contain 6,500 sqm of floor space across 12 storeys. MVRDV’s ambition is to generate a building that shows the

24 Building & Investment | www.b-i.biz

(Source: MVRDV)

CREDIT LIST CLIENT: RVI GMBH ARCHITECT: MVRDV

Artist impression. (Source: MVRDV)

city of Esslingen and at the same time, opens up to its surrounding and its users. The Milestone is the epitome of the phrase “We Are Here” as it will showcase Essligen’s pride, its history and its future. The façade traces the boundaries of Esslingen and the topography of its landscape, which is pushed in through a series of pixels that form an “Esslinger Room”. A series of stairs, terraces, and platforms emerge and leads to the other side, reaching a viewpoint in the shape of the city centre for public use, where visitors can enjoy the views of the vineyards and surrounding hills. The façade is designed as partially mirrored, with fritted glass containing PV cells that mirror the environment, the town, its hills and its people. It shows the pixelated map of the area of Esslingen and around. Each pixel carries different information, featuring the stories of the city and its inhabitants. Accompanied by a smartphone app one can discover its richness, creating the public library of the town. On the ground level, the crystal rock opens up to the public square located in front, connecting the city with the building and providing public amenities including a restaurant, café and meeting areas. On the upper levels, modern office spaces are created to encourage a healthy work-life balance. In contrast, at night, the building becomes a beacon for Esslingen, illuminated through its façade, creating an extraordinary atmosphere. This turns the public square in front into a new meeting point for its inhabitants and the city’s next milestone.

Artist impression. (Source: MVRDV)

(Source: mvrdv.nl and esslingen.de)

Building & Investment | www.b-i.biz 25

OUTLOOK

Source: blog.rentandreturns.com

COVID-19 IMPACT ON ASIA PACIFIC REAL ESTATE INVESTMENT IN FIRST HALF OF 2020

he full impact of the COVID-19 pandemic was felt deeper in Asia Pacific real estate markets in the second quarter of 2020 than the previous quarter, contributing to investment volumes and rental prices declining across most major commercial asset classes in the first half of the year. According to newly released data by JLL (NYSE: JLL), first half investment volumes in Asia Pacific declined by 32% year-on-year, with second quarter activity down by 39% year-on-year accelerating from a 26% drop in the first quarter. The decline in investment volumes continued as more economies introduced lockdowns and travel restrictions, further impacting investors’ short-term capital deployment plans. Singapore (-68%) and Hong Kong (-65%) registered the largest year-on-year investment declines in the second quarter, while drops in Australia (-58%), South Korea (-45%) and China (-15%) were offset by a resumption of activity in the latter parts of the second quarter. Investment activity in Japan (-20%) remained resilient due to transactions in the multi-family sector and strong domestic liquidity. “The sharp decline in deal activity in the second quarter is reflective of the lack of willing sellers and the general uncertainty that exists around market recovery. Liquidity remains very high, and we expect transaction activity is poised to rebound in the second half as economies further reopen and pricing expectations are adjusted in certain markets,” said 26 Building & Investment | www.b-i.biz

• Investment volumes in 1H decline 32% year-onyear, but healthy yield spreads mean appetite for assets remains high • Leasing markets subdued with some bright spots emerging

Source: iproperty.com.my

Source: newshubasia.com

Stuart Crow, CEO of Asia Pacific Capital Markets at JLL, in a statement. Asia Pacific’s office sector continues to report the highest investment volume, supported by strong institutional investor appetite for core markets. Defensive and operation-critical assets - logistics, education and data centres – are also gaining attention from investors, leading to a flurry of fund raisings and new joint ventures. Deal activity for retail and hotels remained stagnant in the first half. With interest rates declining in most major markets, JLL data show a healthy spread between prime yields and bond yields in most sectors in Asia Pacific, providing an attractive environment for global investors looking to deploy approximately $40 billion1 in dry powder into the region. MUTED LEASING ACTIVITY Across Asia Pacific, office leasing was generally subdued during the first half, with only select markets posting quarter-on-quarter price increases. Office rentals in Hong Kong’s Central district observed the most substantial decline (-9.3%) with the backdrop of rising vacancies and weaker leasing demand. Beijing (-4.1%), Melbourne (-3.9%), Sydney (-3.5%) and Singapore (-3.3%) also reported sizable declines in the office rental prices. Osaka and Seoul’s CBD office markets bucked the trend and outperformed in the second quarter, with rents rising 1% to 2%. “Office leasing activity was relatively muted during the second quarter across Asia Pacific’s major markets, as heightened economic uncertainty influenced decision-making and lockdowns created inspection challenges,” said Jeremy Sheldon, Head of Markets, Asia Pacific, JLL. “While there were some relative bright spots in select areas, the market does remain unpredictable and all sides will be watching closely as the second half unfolds.” Retail was the most severely impacted by lockdowns, travel restrictions and social distancing, curtailing demand throughout the second quarter. Hong Kong’s (-13.3%) retail leasing market 1

JLL Capital Markets estimates.

Source: todayonline.com

posted the biggest decline across major Asia Pacific markets. Rents also declined across most of Southeast Asia, with Singapore (-8.5%) recording a significant moderation in prices. The logistics and industrial sector proved the region’s most resilient in the second quarter. Rental growth remained positive in Shanghai (+1.2%) and Sydney (+1.0%) and was largely stable in Singapore, Beijing, Sydney and Melbourne. “There is still significant uncertainty about growth and the shape of recovery amid the COVID -19 pandemic. Supply and demand remain the drivers of leasing performance and, inevitably, as markets continue to experience periods of lockdown, there is a direct impact on demand,” said Roddy Allan, Chief Research Officer, Asia Pacific, JLL. “The impact of COVID-19 will remain, but our research indicates investors will approach the market in the second half with measured optimism, which we believe will accelerate further in early 2021.” (Source: Jones Lang LaSalle Incorporated, JLL)

Building & Investment | www.b-i.biz 27

INFRASTRUCTURE

RAIL BALTIC ÜLEMISTE TERMINAL

Tallinn’s new multi-modal traffic hub that serves both the network and the local community for the future Rail Baltic Line

he British architecture firm, Zaha Hadid Architects, working together with Estonia’s Esplan, have been awarded the first place in the design competition for the new terminal of the Rail Baltic railway at Ülemiste, Tallinn. Rail Baltic is a planned 870 km electrified railway from Tallinn in Estonia to the LithuanianPolish border. The Ülemiste terminal will be the starting point of the Rail Baltic line connecting Tallinn, Riga and Vilnius with the European high-speed rail network.

28 Building & Investment | www.b-i.biz

The Rail Baltic Ülemiste terminal is scheduled to be completed by 2026 and the total construction of the project will cost €40 million (approx. US$45.6 million). Upon completion, Rail Baltic will enable passengers to travel from Tallinn to Parnu in 40 minutes and from Tallinn to Riga in two hours. A MULTI-MODAL TRAFFIC HUB THAT DOUBLES AS A PUBLIC BRIDGE Zaha Hadid’s winning design, titled “Light Stream”, imagines the station as a giant sinuous bridge, snaking perpendicularly

Artist impression.