Opportunities for landlords as Asia turns to EVs
The growth of electric vehicles (EVs) in Asia Pacific is an opportunity for asset owners, says CBRE.
EV sales in the region have been growing and last year APAC accounted for two-thirds of global EV sales. CBRE’s latest report suggests the number of EV chargers around the region will grow to 10 million by 2030, from 2 million and that landlords have the opportunity to enhance their assets with EV charging installations.
Chargers are becoming more common in shopping malls, as customers charge their vehicles while shopping. For industrial and logistics facilities, there is strong demand for direct current fast chargers as occupiers want more charging points for electrified fleets. Meanwhile Australia, India, Japan, and Singapore plan regulations which will require installation of charging points in new office buildings.
Landlords could partner with or invest in charging point operators as well as building their own infrastructure, CBRE suggested.
“From retail malls and office complexes to industrial warehouses, EV charging infrastructure is fast becoming the norm across Asia Pacific as landlords and occupiers gear up for the electric mobility era,” said Sidharth Dhawan, regional head of alternatives - automotive & flex, Asia Pacific for CBRE.
“Planning for EV charging is a complex process. Property owners and investors need to consider potential challenges when installing EV chargers, such as the long payback periods, and short lifecycle of the charging systems,” said Dr Henry Chin, global head of investor thought leadership & head of research, Asia Pacific for CBRE.