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Unlocking Redevelopment Opportunities in Asia Pacific Retail and Hotel Real Estate

As construction costs rise across Asia Pacific, adaptive re-use and redevelopment of underutilized retail and hotel real estate have become crucial strategies for investors. In Shanghai, revitalization efforts have transformed aging structures like the Hong Shou Fang complex into vibrant mixed-use developments. Similarly, in Japan, hotel conversions are growing in popularity, driven by increasing tourism and cost-efficient operational models. In Hong Kong, hotels are being re-purposed into student accommodations, capitalizing on the growing demand for student housing. These trends highlight the creative approaches investors are taking to maximize asset value in a high-cost environment.

Steve Carroll

Steve Carroll

Head of Hotels & Hospitality, Asia Pacific, CBRE

Steve leads the Asia Pacific Capital Markets Hotels & Hospitality team at CBRE, to deliver a fully integrated hotels service offering. He is a proven leader with more than 20 years of extensive hotels experience across investment, divestment, M&A, capital raising, debt, asset management and strategic advisory. Prior to CBRE, Steve was the Global Co-Head of M&A and Global Growth Office for luxury brands at IHG. He oversaw the development and execution of their investment strategies and has lived in Australia, Atlanta, London and Singapore. This exposure has led to strong global relationships and in-depth market knowledge in the hospitality sector.
Vivek Kaul

Vivek Kaul

Managing Director, Head of Retail, Advisory & Transaction Services, Asia, CBRE

With almost two decades of industry experience, Vivek is the Head of Retail for the Asia Advisory & Transactions business at CBRE. His role actively engages with leading Institutional Investors and Developers on mall design, trade and tenant mix planning as well as leasing strategies to increase asset value. Prior to leading the Asia Portfolio, he ran a team of 63 Retail professionals in India and was the single point of contact for real estate developers and investors. He advised global brands on their market entry or expansion plans within India, and handled marquee leasing transactions across all categories.
Gus Mcconnell

Gus Mcconnell

Associate Director, Research, Asia Pacific, CBRE

Gus is an Associate Director in the CBRE Asia Pacific business, working closely with the wider business lines in operating both the Global and Asia Pacific research platform, which includes fundamental research and enhancements to research outputs on hotels and capital markets sectors. Before joining the Asia Pacific Research team in 2022, Gus spent 2 years with the firm as an Analyst in the local Australian research team covering the Australian commercial real estate market across multiple property sectors, including office, retail and industrial.