King Faisal Specialist Hospital and Research Center Honors Two Decades of Heartfelt Employee Commitment


RIYADH, Saudi Arabia, Nov. 29, 2023 (GLOBE NEWSWIRE) — King Faisal Specialist Hospital and Research Center takes great pride in recognizing the exceptional dedication of its diverse workforce, with each member contributing two decades to the noble mission of patient care. His Excellency, CEO Dr. Majid Al-Fayad, personally paid tribute to these trailblazing individuals at the forty-fourth edition of the Pioneers Honoring Ceremony, held in both Jeddah and Riyadh on November 20th and 22nd, respectively.

In conveying appreciation for the unwavering commitment to healthcare, the hospital commemorated the meaningful moments dedicated to enhancing the overall patient experience. The culmination of these efforts has woven a rich tapestry of experience and skills, forming the foundation for the esteemed status King Faisal Specialist Hospital and Research Center holds today.

Central to this success is the unwavering commitment to employee development and the cultivation of a robust organizational culture. The hospital places special emphasis on its human capital, acknowledging their pivotal role in achieving its global prominence. This commitment is evident through the implementation of quality programs and services aimed at enhancing the work environment and employee productivity.


The success of these initiatives is reflected in an internal survey, where 78% of participants recommend the work environment, and 81% express satisfaction with the services provided by the hospital. King Faisal Specialist Hospital and Research Center’s dedication to its staff is further exemplified by the establishment of a social club for employees several years ago. This initiative fosters a positive work environment, promoting social interaction, personal growth, and community participation, ensuring that individuals feel valued, connected, and supported.

Highlighting the hospital’s commitment to continuous personal and professional development, KFSH&RC regularly organizes workshops, seminars, and dialogue sessions covering various topics such as leadership, time management, stress management, financial well-being, and career advancement. These educational opportunities aim to contribute to the potential growth of employees within the organization.

Through these initiatives, King Faisal Specialist Hospital and Research Center aspires to create an enticing work environment that attracts top-tier healthcare professionals worldwide. This commitment aligns with its strategic goals, supporting its nearly five-decade journey to be a global leader in providing specialized healthcare through research and innovation.

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GlobeNewswire Distribution ID 8986869

Research from Philips and Vanderbilt shows how decarbonizing healthcare also helps to reduce cost

Research from Philips and Vanderbilt shows how decarbonizing healthcare also helps to reduce cost

November 29, 2023

Amsterdam, the Netherlands and Chicago, USA – Royal Philips (NYSE: PHG, AEX: PHIA) a global leader in health technology, and Vanderbilt University Medical Center (VUMC), home to top-ranked adult and pediatric hospitals in the Southeastern U.S., today announced initial results of a research collaboration to decarbonize the health system’s radiology department. The project, which was initially announced in May 2023, shows that sustainable initiatives can be both environmentally friendly and cost-effective. The assessment indicated that circular business models, such as upgrades, can reduce total cost of ownership of an MR system by up to 23% and carbon emissions by 17%, and for CT, refurbished systems and equipment upgrades can contribute to reducing costs of ownership by up to 10% and 8% respectively, and reducing carbon emissions by 6% and 4% respectively.

Philips and Vanderbilt assessed 13 diagnostic imaging devices including MR, CT, ultrasound and X-ray, which account for an estimated 12,000 patient scans per month and found that, over a period of 10 years, they emit the CO₂ equivalent of approximately 1,000 gas cars driven for one year. In addition, the energy use of scanners accounted for more than half of the total emissions released from diagnostic radiology. Other generators of carbon emissions within the department included the use of medical disposables, PACS (picture archiving and communication system) and linen production and laundry.

The assessment showed that both technology and healthcare practitioners play a significant role in reducing overall greenhouse gas emissions. For example, 44-75% of energy is consumed outside of patient scanning time, therefore the research emphasized the importance of working with staff to improve patient scan efficiency and industry partners to develop techniques to reduce carbon emissions between scans. Improving scanning efficiency with technology including those that are AI-enabled may conserve energy and reduce unnecessary scan repetition.

“Human health is closely connected to the health of the environment, and we need to take care of both, which is why we feel a great sense of urgency to address our carbon emissions and develop a more sustainable and healthier path forward,” said Diana Carver, PhD, Assistant Professor of Radiology & Radiological Sciences, Vanderbilt University Medical Center. “Our collaboration is leveraging our team’s collective knowledge and expertise to reveal key learnings that will direct our efforts to cut emissions.”

Along with implementing a set of prioritized interventions defined by Philips and VUMC that will support the carbon footprint reduction of the radiology department, the two organizations intend to share their findings in a scientific publication, with the objective of facilitating knowledge sharing and enabling further improvement of environmental strategies throughout the healthcare industry.

“It is imperative that healthcare acts quickly, collectively, and globally to mitigate climate impact. This study challenges conventional thinking that sustainability increases costs when it, in fact, does just the opposite. Energy-efficient, circular, digital and cloud-based technologies can help address climate change and this research shows that individual behavioral changes can also play an important role in speeding up global efforts towards decarbonization,” said Jeff DiLullo, Chief Region Leader, Philips North America. “Our teams continue to work closely to define an approach and model that VUMC can leverage, anticipating results of this research will inspire others to take action.”

During #RSNA23Dr. Carver presented initial results of this research in the session “Exposing Sustainable Imaging Strategies: The Role of Practitioners in Reducing Carbon Footprint.” Today, Dr. Cassandra Thiel, a lead researcher on the project, will outline additional research insights in “Spinning Radiology Resources: Balancing environmental and economic considerations with circular business models” and “Shedding Light on Sustainability for Radiologists – A Comprehensive Life Cycle Assessment (LCA) of a Diagnostic Radiology Department.”

Philips also hosted a virtual Symposium session – Sustainable Radiology: From Aspiration to Action – moderated by Jeff DiLullo, featuring leading industry experts including John Scheel, MD, Professor of Radiology & Radiology Sciences and Vice Chair of Global Health and Sustainability at Vanderbilt University Medical Center, who presented best practices to help improve care for patients and the planet.

At RSNA, Philips is launching its new ‘care means the world’ brand campaign, highlighting that improving human health and environmental health go hand in hand. With sustainability embedded in everything the company does, Philips is leading the way in innovation to enable healthcare that is connected, inclusive, accessible and sustainable. Visit Philips at RSNA 2023 for more information.

For further information, please contact:

Avi Dines
Philips North America
Tel: + 1 781 690 3814

Mark Groves
Philips Global Press Office
Tel: +31 631 639 916

Vanderbilt Radiology Communications:
Derek Scancarelli, MA
Senior Communications Specialist

Jackson Hicks, MS
Associate Communications Specialist

About Royal Philips
Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2022 sales of EUR 17.8 billion and employs approximately 70,700 employees with sales and services in more than 100 countries. News about Philips can be found at

About Vanderbilt University Medical Center
Vanderbilt University Medical Center (VUMC) is the largest comprehensive research, teaching and patient care health system in the Mid-South region, with the highest ranked adult and children’s hospitals in the Southeast by U.S. News & World Report. Based in Nashville, Tennessee, VUMC sees more than 3.2 million patient visits per year in over 180 ambulatory locations, performs 91,000 surgical operations and discharges 79,000 inpatients from its main-campus adult, children’s, psychiatric and rehabilitation hospitals and three regional community hospitals. The Medical Center is the largest non-governmental employer of Middle Tennesseans, with nearly 40,000 staff, including more than 3,000 physicians, advanced practice nurses and scientists appointed to the Vanderbilt University faculty. For more information and the latest news follow VUMC on FacebookLinkedInTwitter and in the VUMC Reporter.


GlobeNewswire Distribution ID 1000901691

Mermec: Agreement with the Philippines to enhance railway infrastructure

Anneli Lontoc and Angelo Petrosillo

Anneli Lontoc, the Undersecretary of the Department of Transportation and Communications of the Philippines, left and Angelo Petrosillo, Vice President for International Affairs at Mermec.

ROME, Nov. 29, 2023 (GLOBE NEWSWIRE) — An agreement has been reached between the Government of the Philippines and the Mermec Group to enhance the country’s capabilities in the monitoring of railway infrastructure, safety, and maintenance procedures. The partnership was signed by the Group – which is Italy’s leading company specialising in technologies for the safety and maintenance of railway networks and is part of Angel Holding (headed by President Vito Pertosa) – during a ceremony in Manila.


The agreement, which shows a commitment to invest in the country’s future transport systems, includes highly specialised training programmes for Filipino technicians and engineers. The aim is to attract highly qualified professionals currently working abroad to return to their homeland, aligning with President Bongbong Marcos’s vision that emphasises the importance of improving people’s lives, promoting social inclusion, and preserving the environment through advancements in the transport sector.

“Investing in transportation means working towards a more sustainable future. The initiative not only addresses the training needs of local talents but also seeks to repatriate valuable skills to contribute to the growth of the Philippines,” commented Angelo Petrosillo, Vice President for International Affairs at Mermec.

The agreement marks the first step in establishing a National Diagnostic Centre, a crucial element in the broader strategy to enhance the Philippines’ railway infrastructure. This centre will complement the introduction of advanced trains and measurement systems, marking the beginning of Mermec’s activities in the country.

“Attention to training is a key element for the economic management of railway infrastructure. Collaboration with Mermec, recognised as a world leader in hi-tech excellence, is poised to bring unprecedented progress to the Philippines’ transport sector,” emphasised Anneli Lontoc, Undersecretary of the Department of Transportation and Communications of the Philippines, expressing appreciation for the agreement that will help enhance the country’s technology landscape.

The agreement is part of Mermec’s broader international strategy, with Manila as the third stop after Tokyo and Sydney. The tour, marked by the signing of significant commercial agreements, reaffirmed the centrality of the Asia-Pacific region in Mermec’s business consolidation and expansion.

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GlobeNewswire Distribution ID 8986816

New Benchmark Study Highlights Impacts of Nickel and Cobalt Mining on Critical Forested Carbon Sinks Amid Battery Metals Boom

  • Commissioned by TMC, Benchmark Mineral Intelligence assessed the impact of mining on terrestrial carbon sinks in top nickel and cobalt producing regions
  • In 2022, 75% of the world’s cobalt production came from the Democratic Republic of the Congo (DRC) and 50% of the world’s nickel production came from Indonesia. Both DRC and Indonesia are megadiverse countries and conservation hotspots
  • The carbon model developed by Benchmark quantifies the magnitude of carbon stocks and carbon sequestration services loss due to mining of cobalt in the region of Katanga, DRC and nickel in Sulawesi, Indonesia
  • The study finds that 1 kg of nickel mined from saprolite and limonite ore in Sulawesi removes forests containing carbon stock equivalent to 7.0 and 9.4 kg of CO2e, and 1 kg of cobalt mined in Katanga removes 3.6 kg of CO2e. Resulting vegetation change also causes carbon sequestration services loss of 4.8g and 6.5g of CO2e respectively for nickel, and 9.3g of CO2e for cobalt per year.

NEW YORK, Nov. 29, 2023 (GLOBE NEWSWIRE) — TMC the metals company Inc. (“TMC” or “The Metals Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced that leading lithium-ion battery supply chain research firm, Benchmark Mineral Intelligence (“Benchmark”), has completed an independent third-party study of how terrestrial cobalt mining in the woodland forests of the Democratic Republic of Congo (DRC) and nickel mining in the rainforests of Indonesia impact terrestrial carbon sinks. The full study can be downloaded here and a summary document here.

While awareness is growing of the direct carbon emissions from metals mining and processing, lifecycle assessments do not often assess the impacts of land-use change on carbon sinks in specific regions. The new Benchmark study complements their earlier independent third-party lifecycle assessment where the environmental impacts of TMC’s planned NORI-D Polymetallic Nodule Project are compared to the lifecycle impacts of key-land based production routes for nickel, cobalt and copper [see full report ; summary ]. Benchmark focused on DRC (75% of the world’s cobalt production in 2022) and Indonesia (50% of the world’s nickel production in 2022) and set out to quantify the loss of carbon stocks and sequestration services caused by the mining of cobalt in the region of Katanga, DRC and nickel in Sulawesi, Indonesia. Benchmark data was used to select five of the largest mines in each region as case studies, which then underwent Geographical Information System (GIS) mapping analysis to look at changes over a 14-year period. Habitat types were defined using the Land Cover Classification System to assess the changes and impact that mining had on regional carbon stocks during that same period.

“Forest ecosystems play a critical role in the carbon cycle, yet when it comes to sourcing energy transition metals from forested regions, the impacts on carbon stored in trees, plants and soils, and their ability to draw down carbon from the atmosphere unfortunately often go unaccounted for, along with the additional ecosystem services they provide and the loss of biodiversity they host” said Erica Ocampo, Chief Sustainability Officer for The Metals Company.

“This new study provides insights to help us understand the relative benefits of developing the nodule resource in a region devoid of trees or plants, and with orders of magnitude less life than would be found in biodiverse forest ecosystems being impacted by mining today.”

In both Indonesia and the DRC, the extraction of metal ores through open pit mines requires the complete removal of overlying ecosystems and contained carbon sinks, in turn eliminating the carbon sequestration services they provide. The study found that 1 kg of nickel mined from saprolite and limonite ore in Sulawesi removes forests containing carbon stock equivalent to 7.0 and 9.4 kg of CO2e, and 3.6 kg of CO2e in the case of cobalt mined in Katanga. Due to the resulting vegetation change, mining activities cause carbon sequestration services loss of 4.8 g and 6.5 g of CO2e respectively for nickel, and 9.3g of CO2e for cobalt per year.

Furthermore, Benchmark reported an average area of vegetation change of 2.6 million square meters and 1.4 million square meters per year respectively for each nickel and cobalt case study mine over the period assessed by GIS. This activity results in the loss of 443,000 tonnes CO2e and 57,000 tonnes CO2e of carbon sinks per year and the annual loss of 309 tonnes CO2e and 147 tonnes CO2e of carbon sequestration services, for nickel and cobalt respectively.

When combining the findings of this latest study on carbon stock loss with the GHG emissions (Global Warming Potential) quantified in Benchmark’s earlier study, the total carbon impacts of Indonesian nickel production from laterites via RKEF and HPAL routes increase by between 7-49% respectively, and by 35% in the case of cobalt production from mixed sulfides in the DRC.

In January 2022, TMC announced the publication of a peer-reviewed study in the Yale Journal of Industrial Ecology which found that seafloor polymetallic nodules could significantly reduce—and in some scenarios eliminate—the onshore solid waste streams typically generated by metal production from land ores. An earlier peer-reviewed study – published in the Journal of Cleaner Production – found that sourcing critical battery metals from seafloor nodules could drastically reduce the lifecycle climate change impacts when compared to land ores.

The Metals Company will convene a webinar on December 12 where Erica Ocampo will discuss the findings of this latest report as well as those of Benchmark’s earlier study. If you would like to register for the webinar, please use the following link.

About The Metals Company
The Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the global energy transition with the least possible negative impacts on planet and people and (2) trace, recover and recycle the metals we supply to help create a metals commons that can be used in perpetuity. The Company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga.

About Benchmark Mineral Intelligence
Benchmark is the world’s leading provider of actionable intelligence for the lithium-ion battery and electric vehicle supply chain. Benchmark’s expertise, together with unique and rigorous data collection processes, add real knowledge to opaque industries that are central to the lithium-ion economy. Their services guide the biggest investment decisions, government policy and industry collaboration around the world. Benchmark’s expertise is reinforced by its ESG division that offers a set of subscription and consultancy services providing robust metrics and Life Cycle Assessments measuring the sustainability of the EV supply chain build out. Benchmark ESG provides bespoke independent assessments of the material risks organizations face and investor-driven analysis, driving ESG through the heart of the EV supply chain’s companies. Benchmark ESG assessments assist in reducing future compensation associated with poor ESG risk identification in an industry where sustainability is being widely critiqued. From the mine to cathodes and anodes, through to the lithium-ion battery cell, Benchmark’s entire supply chain approach is unique and relied upon the world over. More information is available at

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Forward Looking Statements
Certain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The forward-looking statements contained in this press release include, without limitation, statements that waste streams could be reduced by using deep-sea nodules. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside TMC’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the outcomes of research conducted by third parties including the lifecycle assessments; regulatory uncertainties and the impact of government regulation and political instability on TMC’s resource activities; changes to any of the laws, rules, regulations or policies to which TMC is subject; the impact of extensive and costly environmental requirements on TMC’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the CCZ and recovery rates of impacted ecosystems; TMC’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that TMC may recover; risks associated with collection, development and processing operations; fluctuations in transportation costs; testing and manufacturing of equipment; risks associated with TMC’s limited operating history; the impact of the COVID-19 pandemic; risks associated with TMC’s intellectual property; and other risks and uncertainties, including those in the “Risk Factors” sections, included in the final prospectus and definitive proxy statement, dated and filed with the Securities and Exchange Commission (the “SEC”) on August 12, 2021 relating to the business combination, in TMC’s Annual Report on Form 10-K for the year ended December 31, 2022, filed by TMC with the SEC on March 27, 2023, as updated and/or supplemented by TMC’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, filed with the SEC on August 14, 2023, and in TMC’s other future filings with the SEC, including TMC’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, filed with the SEC on November 9, 2023. TMC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. TMC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based except as required by law.

GlobeNewswire Distribution ID 8986811

Nasdaq Launches New Technology to Scale Global Carbon Markets

Technology Securely Digitizes the Issuance, Settlement, and Custody of Carbon Credits

Service Uses Smart Contract Language, Deployed via Private Centralized Database or Private, Blockchain Technology for Enterprises to Register Carbon Removal Credits Using the Technology

NEW YORK, Nov. 29, 2023 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) today announced the launch of a pioneering new technology that securely digitizes the issuance, settlement, and custody of carbon credits. It will be provided to market infrastructures, registry platforms, and other service providers globally.

The service will ultimately support the development and institutionalization of global carbon markets. Despite being a relatively young market the carbon credit operating model is characterized by bilateral trading and a heavy reliance on manual interaction, providing limited ability to scale as the market develops. This inflexibility has also led to an absence of standardization – where credit data can be categorized and integrated into existing systems – which is a major barrier to attracting significant capital flows.

The technology will allow market operators and registries to create standardized digital credits and distribute them with full auditability throughout the transaction lifecycle. Nasdaq has also developed a carbon taxonomy framework that can readily incorporate new types of credit as the market evolves, along with a comprehensive set of APIs that will allow participants to seamlessly interact across the market. Together, this will help establish a standardized, trusted ecosystem capable of attracting high-quality liquidity from a variety of investors.

“Fragmented technology choices in the trading and settlement of carbon credits has prevented the carbon industry from growing and maturing as an asset class. A lack of system flexibility, standardization, and connectivity has made it challenging for critical infrastructure providers and institutional investors to access the market in a meaningful way,” said Roland Chai, Executive Vice President and Head of Marketplace Technology at Nasdaq. “Bringing institutional grade technology to underpin the market will drive ever-greater liquidity across carbon marketplaces and open the possibility of greater interoperability between registries in the future.”

The service will utilize smart contract technology, allowing customers to securely create and process rights, obligations, and other information relating to the underlying asset. By automating several asset servicing and settlement procedures, the technology has the power to enhance efficiency and transparency throughout the trade lifecycle and provide a complete audit trail of credit ownership and retirement. The technology can also be used to reimagine current multiparty workflows in industries where paper, manual processes, and risk are obstacles to growth.

The issuance, settlement, and custody capabilities can be readily integrated with existing technology architectures used across the financial system, or deployed as a standalone platform, while also offering flexibility to connect to existing payment networks and bilateral settlement options. This will allow infrastructure providers to continue serving traditional markets, whilst also capturing growth opportunities from carbon markets, without the cost associated with major change programs.

Additionally, Nasdaq offers infrastructure optionality that enables the technology to be deployed on either a centralized database or using private blockchain technology.

Nasdaq announces technology partnership with

Alongside the launch of the service, Nasdaq has today announced a new technology partnership with, a world-leading standards and registry platform for engineered carbon removal, to register CO2 Removal Certificates, or CORCs. The registry tracks the issuance, retirement, and the transfer of the assets, providing full traceability and transparency to avoid double counting carbon removal projects.

Gerard Smith, Vice President, Digital Assets & Carbon for Marketplace Technology at Nasdaq, commented: “This is a great example of how our technology can support the growth of the voluntary carbon removal market, which still places a heavy reliance on manual interactions and onerous data collection tools. By providing a comprehensive set of APIs, alongside standardized contracts, can seamlessly interact with a full range of market participants.”

Antti Vihavainen, CEO of, added: “Accurately managing the lifecycle of carbon credits is essential for trust. By leveraging Nasdaq’s technology, the core part of our carbon crediting infrastructure, the Puro Registry will be modernized. The system will become available for carbon marketplaces and exchanges through the Puro Connect API and will also have the preparedness for labeling CORCs compliant with Article 6 of the Paris Agreement.”

The company’s Puro Standard is the first carbon removal standard for engineered carbon removal methods in the voluntary carbon market. It consists of high-quality carbon removal methodologies, aligned with the Intergovernmental Panel on Climate Change definition for carbon removal.

Certified suppliers and their carbon removals are verified by an independent third-party and the CORCs can be bought by companies seeking to offset their carbon footprint directly from suppliers or through a third-party marketplace.

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at

Nasdaq Media Contact:
Andrew Hughes
+44 (0)7443 100896


GlobeNewswire Distribution ID 8985986

Challenging conditions to persist, but expectation of clearer rate outlook and tightening bid-ask spreads on the horizon

Industrial & logistics, multifamily, and office remain top picks for 2024 with investors deploying new strategies in each sector

Colliers 2024 Global Investor Outlook

A comprehensive, in-depth look at the trends set to dominate the commercial real estate investment market and where opportunities can be found in the year ahead.

LONDON and TORONTO, Nov. 28, 2023 (GLOBE NEWSWIRE) — The 2024 Global Investor Outlook released by Colliers (NASDAQ and TSX: CIGI) today reveals that challenging market conditions will persist into 2024, though expectations of a clearer rate outlook and tightening bid-ask spreads are on the horizon. Lower investment activity has constrained pricing discovery due to limited data points. As investors continue to seek stability in policy environments, industrial & logistics (I&L), multifamily and office sectors largely remain their top picks in the upcoming year.

Pockets of opportunity are continuing to emerge as distress forces companies to unlock capital via sale and leasebacks, and property funds face redemption pressures. Furthermore, a record proportion (25%) of investors surveyed have ESG-based disposal and acquisition strategies in place – up from 10% just two years ago. As a result, a wave of disposals and value-add opportunities are coming to market, with investors raising capital for brown-to-green conversions of these assets.

“We’ve heard from investors that stability is key. With anticipated ‘higher for longer’ interest rates to combat inflation, expectations for capital markets are tempered. If greater certainty emerges, along with the softening of underlying valuations, that will drive additional transaction volume next year. The best-positioned investors will be those who are ready to act on opportunity,” said Luke Dawson, Head of Global & EMEA Capital Markets at Colliers.

Sustained appetite for I&L leading to partnerships

Demand for all I&L segments is, and will remain, high. The limited supply of standard product is providing a solid backstop for values, leading more investors to explore specialized sub-sectors connected to the evolution of e-commerce and supply chains, including cold and dark storage, light industrial and manufacturing. Additional protectionist industrial policies and increasing cost of energy will encourage more onshoring and nearshoring of operations.

“Many investors feel I&L assets provide greater stability and growth potential, given its strong underlying fundamentals and structural drivers. Facing fewer lenders and higher borrowing costs, we’re seeing investors pool funds and form alliances and joint ventures with partners who have the expertise to navigate specialist or sub-sector markets,” said Damian Harrington, Head of Research, Global & EMEA Capital Markets at Colliers.

Demographic and economic drivers help multifamily retain appeal

Like I&L, the living sector has also shown more resilience, buoyed by a strong outlook. Investors anticipate that supply-and-demand imbalance caused by population growth and housing availability and affordability issues will support this sector for the foreseeable future. Many remain keen on deploying capital into alternative living classes such as purpose-built student accommodation and senior housing, both linked to fundamental demographic trends. The growth potential offered by build-to-rent (BTR) assets being developed is heightened too as overall high prices and mortgage rates keep households, students, and young professionals firmly in the rental pool.

Widening best vs. rest office performance

Relative to other markets, those in APAC have returned to the office in full force. Hubs such as Singapore, Tokyo and Seoul boast some of the world’s lowest office vacancy rates. While the fundamental need for office remains globally, investors are gravitating towards high-quality space and value-add opportunities to reposition assets to match the evolving needs of occupiers and employees. In fact, Colliers’ survey found that nearly 80% of investors expect sustainability-certified offices to command a premium, with 65% believing premiums will be upwards of 5% in EMEA and APAC.

“Availability of well-located, premium (net-zero / ESG) space will remain lean, while the value gap between the best and the rest continues to widen. This should contribute to spillover demand in retrofitted stock as investors generate value from brown-to-green conversions. The redevelopment and repurposing of assets to meet sustainability criteria or serve a new purpose is set to be a significant driver of activity next year and beyond,” continued Harrington.

“The path to market recovery will be uneven with divergence across multiple sectors around the world. Similar patterns are evident in hotel and retail, where budget segments are thriving as inflation-hit consumers look to control costs and luxury segments are being lifted by a wealthier customer base. It is the undistinguished middle market that is struggling to find traction with investors, unless heavily discounted. In a rapidly evolving environment, understanding markets and asset classes at a more granular level is critical to investors’ value-generating strategies,” concluded Dawson.

About the 2024 Global Investor Outlook

The fourth edition of our annual outlook for global property investors synthesizes the views of Colliers Capital Markets experts and the results of a survey of international investors. The findings and opinions featured in the report are shaped by their responses.

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 66 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 28 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.5 billion and $98 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at, X @Colliers or LinkedIn.

Media Contact
Andrea Cheung
Senior Manager, Global Integrated Communications

A photo accompanying this announcement is available at

GlobeNewswire Distribution ID 8986253