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China’s 15th Five-Year Plan Signals Transformative Changes for Real Estate

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Cushman & Wakefield Report Highlights Five Key Market Impacts

HONG KONG SAR – Media OutReach Newswire – 24 November 2025 – Global real estate services firm Cushman & Wakefield has released its The 15th Five-Year Plan — Reshaping China’s Real Estate Market Landscape for the Next Five Years report. It provides an expert interpretation of the communique from the Fourth Plenary Session of the 20th CPC Central Committee, and explores how the new Five-Year Plan (FYP) will influence China’s real estate market from 2026 to 2030.

The 15th FYP marks a notable juncture in China’s pursuit of its “Two Centenary Goals.” It serves as the operational blueprint connecting to the 14th Five-Year Plan and laying the foundation for modernization by 2035, and will also reshape the future landscape of China’s commercial real estate market.

During the 14th FYP period, China faced unprecedented challenges: the COVID-19 pandemic, rising anti-globalization sentiment, and geopolitical volatility. These factors slowed global economic momentum and created complex pressures on China’s growth trajectory. Consequently, the nation faces mounting pressures on both domestic and international fronts, necessitating timely and coordinated policy solutions.

In response to these challenges, the government has adopted a strategic framework focused on “domestic circulation as the core, reinforced by international circulation.”

The 15th FYP serves as the operational blueprint for executing this strategy. It outlines a comprehensive set of priorities aimed at driving sustainable and inclusive growth over the next five years, including the building of a modern industrial system, technological self-reliance, domestic market cultivation, and high-level opening up.

Cushman & Wakefield identifies five major impacts on real estate:

New Productive Forces Driving Office and Industrial Demand

The FYP prioritizes a modern industrial system to optimize traditional industries, expand emerging industries, and position for the future. Strategic sectors such as new energy vehicles and biomedicine have already achieved large-scale growth. New energy vehicle production reached 12.8 million units at the end of 2024, with a compound annual growth rate of 72% and a global market share of 76.4%. In the first five months of 2025, China’s share of global large-scale pharmaceutical industry transactions surged to 42%. And in AI manufacturing technologies, China leads globally in industrial robot installations, with 276,300 units in 2023 — six times Japan’s total. Over the next five years, policy and capital support for industrial and technology enterprises will likely spur demand for office space and industrial parks, enabling a recovery and new growth phase.

Growth trend of China’s new energy vehicle industry

Growth trend of China’s new energy vehicle industry

Domestic Demand Expansion Boosting Retail Development

The 15th FYP highlights a model of “new demand leading new supply, and new supply creating new demand,” marking a shift from reliance on material investment and supply-side reforms to leveraging both supply and demand. Over the past few decades, China has achieved success in “investing in physical assets” such as infrastructure, real estate, and manufacturing equipment, but investment in human capital and public welfare has lagged behind.

The FYP signals a policy shift toward addressing public concerns such as education, social security and employment, healthcare, and housing. Policies such as childcare subsidies and free preschool education aim to unlock consumption potential. Consumer infrastructure REITs have become a market hotspot, with all 11 listed products posting strong gains. As at October 15, 2025, two REITS — Cathay Shih Mei and E Fund Huawei Farmers’ Market — recorded gains exceeding 70%. As the government continues to stimulate consumption and consumer-focused REITs expand, retail assets should attract growing investor interest, prompting brand repositioning and exploration of new demographics and demand sources.

High-Quality Opening-Up Attracting Global Capital

Despite global protectionism, China’s two-way opening-up has yielded significant results. As a core asset class for global capital allocation to the RMB, Panda bonds have surpassed RMB1 trillion in issuances, benefiting from financing cost advantages. The FYP’s policy certainty and defined targets, together with expectations for RMB appreciation, are also expected to attract global capital back into China’s capital markets. Over the medium to long term, China asset classes such as retail properties, industrial logistics facilities, data centers, and office buildings are likely to garner growing interest from international investors.

Number and scale of Panda bond issuances

Number and scale of Panda bond issuances
Number and scale of Panda bond issuances

Livelihood Improvements Supporting Real Estate Growth

The FYP highlights real estate sector development within the context of improving people’s livelihoods, reflecting a fundamental shift in the role of real estate in national economic development. Total real estate investment as a share of China’s GDP dropped to 7.4% in 2024 from nearly 15% in 2014, while remaining under the United States’ average of around 12%. Future market growth policies will focus on the construction of affordable housing, the development of the rental market, and urban renewal.

Trend of real estate development investment as a percentage of GDP

Trend of real estate development investment as a percentage of GDP
Trend of real estate development investment as a percentage of GDP

Accelerating Green Transformation

The FYP prioritizes sustainability in the real estate industry, with approximately 100 national-level zero-carbon industrial parks to be established by the end of the FYP period. A UN Environment Program report for 2024-2025 shows that the global construction industry accounts for 34% of carbon emissions, indicating a significant opportunity for emissions reduction in the real estate sector. ESG considerations are increasingly shaping the sector, with ESG principles becoming a key indicator for evaluating the value of commercial real estate projects.

Sabrina Wei, Chief Policy Analyst and Head of Research, North China, Cushman & Wakefield, said, “The 15th Five-Year Plan, as a blueprint for the ‘accelerated period’ of modernization, is driving China’s economy to shift from investment and export dependence to a new model underpinned by domestic demand and coordinated supply and demand.

The positive impacts of key FYP themes will see the commercial real estate industry usher in an upgrade period across four subsectors: industrial real estate, retail properties, cross-border asset allocation, and green real estate. In the next five years, the combined effects of policy dividends, capital inflows, and consumption upgrades will open up greater development space for China’s commercial real estate, helping the industry achieve high-quality transformation.”

Please click here to access the full report.

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VinFast Officially Enters Indonesia’s E-Scooter Market, Partners with Strategic Dealers

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HANOI, VIETNAM – Media OutReach Newswire – 10 February 2026 – VinFast today officially announced its entry into Indonesia’s e-scooter market through the signing of a Memorandum of Understanding (MoU) with strategic dealers in the country. The milestone marks a significant step in VinFast’s international expansion of its electric two-wheeler business and reaffirms the Company’s long-term commitment to one of Southeast Asia’s largest and most dynamic motorcycle markets.

VinFast signed strategic MoUs with its first e-scooter partners in Indonesia.

Accordingly, VinFast has signed strategic MoUs with its first partners in Indonesia, including K3, Citra Abadi Sedaya, PT Bevos Auto Mandiri, PT Sapta Jaya, MotorArt, PT Sinergies Dua Kawan, and PT HINU. These partners have long-standing experience in the distribution of automobiles and motorcycles, strong professional operational capabilities, deep market understanding, and the ability to rapidly deploy operations in line with VinFast’s standards.

VinFast will begin rolling out its distribution network in the Jabodetabek area — Indonesia’s largest economic and urban center — from the second quarter of 2026, with plans to expand to other regions nationwide.

In Indonesia, VinFast plans to introduce a portfolio of battery-swapping e-scooters, including VinFast Evo, VinFast Feliz II, VinFast Flazz and VinFast Viper, alongside additional new models to be launched in due course. The product lineup has been carefully engineered and calibrated to suit Indonesia’s tropical climate, dense urban traffic conditions, and everyday commuting patterns.

Throughout 2026, VinFast aims to further expand its footprint to hundreds of authorized dealerships and service workshops nationwide. The Company’s development strategy in Indonesia is designed as an integrated ecosystem, combining retail and after-sales networks, financing solutions, charging and battery-swapping infrastructure through cooperation with V-Green, and partnerships with leading financial institutions.

Prior to this announcement, VinFast had unveiled its strategy to internationalize its electric two-wheeler business and signed agreements with dealers in the Philippines. According to its roadmap, the Company will accelerate expansion across five priority markets in 2026, namely the Philippines, Indonesia, India, Thailand, and Malaysia. These countries represent high-growth economies with substantial urban mobility demand and a clear transition toward sustainable transportation solutions.

Ms. Vo Thi Cam Tu, Managing Director of VinFast E-Scooters Overseas Market, stated: “Indonesia is a strategic market in VinFast’s global e-scooter expansion journey. Partnering with leading local dealers underscores our partners’ confidence in VinFast’s product quality, service standards, flexible battery-swapping model, and long-term vision. We are committed to accompanying Indonesian consumers on their transition toward a greener, smarter, and more sustainable future of mobility.”

Indonesia stands among the world’s largest motorcycle markets, characterized by rapid urbanization, high population density in major cities, and increasing policy and consumer momentum toward environmentally friendly transportation. These structural factors create substantial headroom for the growth of the e-scooter segment. Indonesian dealers have expressed strong confidence in VinFast’s long-term potential in the country, citing its comprehensive green mobility ecosystem, large-scale manufacturing capabilities, and proven ability to execute swiftly across multiple international markets.

After two years of presence in Indonesia, VinFast has introduced a broad range of electric vehicles, from electric SUVs to models optimized for transportation services, and has commenced operations at its Subang facility. Concurrently, the Company has expanded its integrated ecosystem, including dealership and after-sales networks, charging infrastructure in collaboration with V-Green, and partnerships with leading banks and financial institutions. Through pioneering and customer-centric policies, VinFast continues to lower barriers to EV adoption and enable Indonesian consumers to participate in the global green mobility revolution.

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Voicecomm Technology Wins 300 million RMB Major “AI+ Elderly Care” Project Forging a New Engine for the Silver Economy

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HONG KONG SAR – Media OutReach Newswire – 9 February 2026 – Voicecomm Technology Co., Ltd. (“Voicecomm Technology” or the “Company”, Stock Code: 2495.HK), one of the leading enterprises in Conversational Artificial Intelligence (CoAI), is pleased to announce that it has successfully won the bid for the “South Sichuan Intelligent Valley AI Vertical Large Model Innovation Platform (川南智谷人工智能垂直大模型創新平台)- Silver Economy Construction and Operation Project” in Neijiang City, Sichuan Province. The total contract value is close to 300 million RMB, including approximately RMB 150 million for the initial platform construction costs; and approximately RMB 140 million for medium- to long-term project operation costs. This indicates that Voicecomm Technology has successfully established a full-stack service closed loop of “construction + operation”. This project marks a significant breakthrough for the Company in pioneering the new strategic track of “AI + healthcare” and represents its first replicable city-level smart elderly care benchmark project.

According to report from iResearch, as the end of 2024, China’s population aged 60 and above has exceeded 310 million, accounting for 22.0% of the total population. As the first city-level AI elderly care project, this not only affirms Voicecomm Technology’s position in the “AI + Elderly Care” sector but also signals a new trend in government investment towards smart elderly care—shifting from infrastructure construction to pursuing effective operational services.

Mr. Sun Qi, Founder and Executive Director of Voicecomm Technology Co., Ltd., said: “China is accelerating into a phase of deep aging, and the needs of hundreds of millions of elderly people constitute a vast blue ocean. Faced with the challenges of an aging society today, we aim to leverage artificial intelligence technology to explore a new, scientifically-driven path for elderly care. The Neijiang project is our first demonstration project in the healthcare sector. Its core lies not in stacking hardware but in using AI as the engine to make elderly care services truly intelligent and smooth, thereby enhancing the quality of life and dignity of the elderly. We hope to build this project into a replicable model for more cities to learn from.”

This project is expected to become a powerful engine for activating the silver economy in Neijiang City. Guided by national Smart Elderly Care policies, the project is anticipated to drive an annual output value exceeding 1 billion RMB in the local elderly care service industry and create a large number of job opportunities. By establishing a unified smart health and elderly care service platform, the project will strive to build a “15-minute elderly care service circle,” achieving deep integration between technology and people’s livelihoods.

Since its establishment in 2005, Voicecomm Technology has been committed to the research and application of Conversational Artificial Intelligence and unified communications technologies. Its solutions cover multiple scenarios in fields such as city management and administration, automotive and transportation, telecommunications, finance, healthcare, and energy management. This successful bid once again unveils Voicecomm Technology’s commitment to promoting technological progress and social development.

Hashtag: #Voicecomm

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Voicecomm Technology Co., Ltd.

Founded in 2005 and headquartered in Wuhan, Voicecomm Technology is one of the leading enterprises in the field of Conversational Artificial Intelligence (CoAI) listed on the Main Board of the Hong Kong Stock Exchange, and obtained the qualification as National-level “Little Giant” Enterprise and High-Tech Enterprise. Leveraging advanced unified communication technologies, core conversational AI technologies and self-developed product engines, we are capable of addressing diverse enterprise demand across “collaborative communication”, “intelligent decision-making”, and “efficient execution”, delivering a one-stop enterprise level intelligent interaction experience. Our solutions have been widely adopted in key industries including city management and administration, automotive and transportation, telecommunications, finance, healthcare, and energy management, empowering clients in digital transformation and business innovation.

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Pacific Century Premium Developments Limited announces annual results for the financial year ended December 31, 2025

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HONG KONG SAR – Media OutReach Newswire – 9 February 2026

2025 Annual Results – Financial Highlights

(Figures for the corresponding period in 2024 are shown in brackets)

  • Consolidated revenue: HK$1,046million (HK$695million)
  • Consolidated net loss attributable to equity holders of the Company:
    HK$69 million (HK$230million)
  • Basic loss per share: 3.38 HK cents (11.29 HK cents)
  • No final dividend (No final dividend)

Pacific Century Premium Developments Limited (“PCPD”, SEHK: 00432) has announced its annual results for the year ended December 31, 2025.

The consolidated revenue of PCPD and its subsidiaries (together, the “Group”) amounted to HK$ 1,046 million, representing an increase of 51% compared to the revenue of HK$ 695 million in 2024.

The consolidated net loss attributable to equity holders of the Company for the year of 2025 was HK$ 69 million, compared to the net loss of HK$ 230 million in 2024.

Basic loss per share for 2025 was 3.38 Hong Kong cents compared to the loss per share of 11.29 Hong Kong cents for the previous year.

The Board of Directors has not recommended the payment of a final dividend for the year ended December 31, 2025.

In 2025, PCPD achieved robust full-year results, driven by the sustained surge in international travel across our key Asian markets, our operational strengths, and the continued recognition of our high-quality portfolio. This performance was underpinned predominantly by contributions from two segments: Park Hyatt Niseko, Hanazono, our hospitality business in Hokkaido, which delivered a notable rise in occupancy and revenue, and our ski and recreation operations in Niseko, Hokkaido, which also saw a surge in demand and revenue.

Park Hyatt Niseko, Hanazono, our hotel operations in Hokkaido, delivered a robust performance in 2025, as the boom in Japans tourism sector continued throughout the year, again with record-breaking tourist arrivals. The average occupancy rate of Park Hyatt Niseko increased by 4 percentage points.

During the winter season of 2024/2025, total ski-lift and gondola rides increased 9% year-on-year. The travel surge continued to drive robust demand for our recreational business in Niseko well beyond the cold months.

In Phang Nga, Thailand, the Group has sold or reserved 40% of Phase 1A villas. The Group’s revenue from its property development in Thailand totalled HK$14 million for the year ended December 31, 2025, compared to no revenue in 2024.

We formed a strategic alliance with Hotel Properties Limited in Singapore to bring a Four Seasons Resort and Branded Residences to the prestigious integrated resort community of Aquella in Phang Nga. The move represents a significant milestone in PCPDs long-term vision of transforming Aquella into a visionary integrated resort destination that effortlessly blends luxury living, recreation and exceptional service.

In Jakarta, Indonesia, the occupancy of our premium commercial building, Pacific Century Place, Jakarta (PCP Jakarta”), was stable throughout the year, and the project remained a consistent revenue contributor to the Group. As of December 31, 2025, the office space committed occupancy was 87%, compared to 85% in the previous year.

Development of the superstructure of the Groups project at 3–6 Glenealy, Central, Hong Kong, has been progressing well. We have reached a key structural milestone, with the superstructural work now completed and installation of the curtain walls progressing at pace. The name of the development has also been unveiled as Central Residence by the Park”, and its completion is scheduled for the first half of 2026.

In the long run, we remain cautiously optimistic about the long-term outlook for property sectors in Hong Kong, Japan, Thailand and Indonesia. With PCPDs disciplined execution and proactive risk management, we have confidence in our ability to drive continued growth and deliver sustained value.

Mr. Benjamin Lam, PCPD’s Deputy Chairman and Group Managing Director, said: “We will maintain our prudent yet proactive approach, allocating resources carefully and pursuing value-enhancing initiatives. Our priority remains to drive sustainable growth, improve profitability, and deliver solid returns to shareholders and stakeholders.”

Hashtag: #PacificCenturyPremiumDevelopments

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About PCPD

Pacific Century Premium Developments Limited (“PCPD” or the “Group”, SEHK: 00432) is principally engaged in the development and management of premium-grade property and infrastructure projects as well as premium-grade property investments. PCCW Limited (“PCCW”, SEHK: 00008) is the single largest shareholder of the Group.

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