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CBRE: AEC to drive the growth of office and retail markets

According to CBRE Vietnam, the foundation of ASEAN Economic Community will bring positive signal for the regional office and retail markets in general and in Vietnam in particular. In its report titled 'AEC – the driving force of Southeast Asia real estate market development', CBRE forecasts that the demand and supply on industrial and office space at almost every market in ASEAN countries will increase in short- and mid-term, when there are more and more small- and medium- businesses, as well as multinational corporations, established. However, Desmond Sim, Head of Research at CBRE Singapore and South East Asia, said that there will be many barriers that hinder the growth of AEC real estate market, including incompetent supply management, lacking of skilled labour force, large professional gap of labour force between countries, and lacking of property support policies.