The key theme across all sectors in the first half of 2026 was “polarization.” As uncertainty increases, the value of prime and core assets becomes more evident. Tenants continue to favor large, high-quality assets, while capital and new supply are also increasingly shifting toward mega-scale core assets.

For the second half of the year, IGIS Asset Management’s Strategy & Research Division expects polarization to move beyond a temporary phenomenon and become a structural feature of the market. In this environment, opportunities are expected to concentrate among investors with the ability to preemptively secure high-quality assets and adopt flexible capital strategies in response to changing market conditions.

From a macro perspective, amid heightened uncertainty and growing concerns over rising interest rates, higher financing costs are expected to make funding conditions more challenging for market participants.

Against this backdrop, the intrinsic competitiveness of the asset itself and the capabilities of the asset manager will become key factors determining investment performance, further reinforcing market selectivity. Market participants will therefore need to establish strategies that enable them to respond proactively to these changes.

In the second half of the year, differentiated strategies that can generate stable returns beyond conventional investment approaches will become increasingly important. We believe the following strategies will remain effective: ① CRE debt funds, ② core office investments focused on prime-quality assets, and ③ hotel renovation and value-add strategies, as well as the acquisition of core hotels under global high-end brands.

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