In addition to the humanitarian catastrophe in the Ukraine, the conflict has created significant short-term uncertainty in financial markets and could potentially have a significant medium-term impact on the European and global economies.
While our strategic outlook continues to consider the shape of the economic recovery for each market and industry, as well as local inflation pressures, the fundamental market environment remains supportive for investment in yield assets which can offer inflation hedging.
Specialty sectors continue to attract strong investor interest. Buyers are concentrating on areas which are influenced by long-term secular trends.
Overall, we believe real estate returns will continue to exhibit increasing asset-specific divergence within markets and sectors. We focus on those real estate sectors where demand is supported by long-term secular growth drivers.