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Asia Pacific Industrial & Logistics Trends Q1 2025
April 16, 2025 5 Minute Read
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- Although leasing activity in Korea has yet to fully recover amid ongoing economic and political instability, demand improved in March after a slow February. Landlords of several prime grade assets started to cut incentives packages amid solid demand from 3PL firms and e-commerce platforms, as well as the tightening supply pipeline.
- Market conditions in the Vietnam logistics & warehousing market have improved in recent quarters. There has been a strong increase in enquiries for modern warehouse facilities, particularly from manufacturers, e-commerce platforms and 3PL providers. International occupiers are displaying stronger interest for large logistics spaces of over 100,000 sq. m.
- Hong Kong SAR has shifted toward a tenant's market, with a gradual increase in space availability. However, occupiers are cautious, particularly those in the F&B and retail segments, due to sluggish consumption demand. New leases signed in Q1 2025 involved tenants across the e-commerce, 3PL and consumer products sectors. Other activity included expansion by mainland Chinese supermarkets and furniture chain stores.
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Luke Moffat
Head of Advisory & Transaction Services, Asia Pacific
Michael Bowens
Managing Director, Head of Industrial & Logistics, Advisory & Transactions Services, Asia Pacific
Samuel Lai
Executive Director, Advisory & Transaction Services – Industrial & Logistics Services, Hong Kong
Jihyun Lee
Senior Director, Capital Markets | Industrial & Logistics, Korea
Hieu Le
Senior Director, Head of Advisory & Transaction Services, Vietnam
