For HSBC’s Transition Pathways survey, HSBC has worked with Kantar, a data, insights and consulting company. The survey is not wholly-representative of HSBC’s customer base and covers respondents across 321 key financial decision makers from businesses operating in the Real Estate sector, comprising Developers (163) and Investors (158) and operated across Residential and Office, Retail and Hospitality and Logistics and Data Centres. Businesses were located in Europe (61, of which 35 were in the UK), Asia (97, of which 43 were in Hong Kong), the Middle East (31) and North/Central America (132). Overall 146 (45%) had a gross asset value below $1.5bn, 67 (21%) had a gross asset value between $1.5bn and $4.9bn and 108 (34%) had a gross asset value in excess of $5bn. 99 (31%) had been established for less than 10 years and 222 (69%) for more than 10 years. Data was collected through an online questionnaire and the survey ran from 5 to 17 July 2023.

In preparing this survey, HSBC has relied upon available data, information and responses given at the time of writing. This report should not form the basis of any third party’s decision to undertake, or otherwise engage in, any activity and third parties do not have any right to rely on it. Neither HSBC nor Kantar accept any duty of care, responsibility or liability in relation to this research or its application or interpretation, including as to the accuracy, completeness or sufficiency of it or any outcomes arising from the same.