South Africa Real Estate Report

South Africa Real Estate Report

Published OnDec, 2013
Cement: 2014 Market Review and Forecast
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We believe that the real estate sector in South Africa will remain stable in 2014 because of a
lack of change in the supply demand dynamic and enough new projects in the pipeline to satisfy strong
demand. Net yields will remain consistent in all sectors, and we will see only a couple changes in rental
rates. The sector does face some headwinds in terms of faltering macroeconomic conditions, a volatile
currency, and inflation concerns, but it is still one of the brightest commercial real estate prospects in the
Commercial real estate is dependent on a healthy macroeconomic environment. South Africa's economic
prospects have deteriorated amid rapid currency depreciation and rising tensions in the critical mining
sector. We are forecasting real GDP growth of 3.3% in 2014, with risks weighted firmly to the downside.
Poor economic growth affects the sector as it dampens both property fundamentals and capital markets,
putting downwards pressure upon tenant retentions, rental growth, yields, development activity, financing
and asset values.

Industry View 7
Executive Summary 7
Political 11
Economic 12
Business Environment 13
Industry Forecast 14
Pharmaceutical Market Forecast 14
Table: Pharmaceutical sales (US$bn) 16
Healthcare Market Forecast 17
Table: South Korea Healthcare Expenditure Trends, Historical Data and Forecasts, 2010-2018 18
Table: South Korea Government Healthcare Expenditure Trends, Historical Data and Forecasts, 2010-2018 18
Table: South Korea Private Healthcare Expenditure Trends, Historical Data and Forecasts, 2010-2018 19
Prescription Drug Market Forecast 20
Table: South Korea Prescription Drug Market Indicators, Historical Data and Forecasts, 2010-2018 21
Patented Drug Market Forecast 22
Table: South Korea Patented Drug Market Indicators, Historical Data and Forecasts, 2010-2018 23
Generic Drug Market Forecast 24
Table: South Korea Generics Drug Market Indicators, Historical Data and Forecasts, 2010-2018 26
OTC Medicine Market Forecast 27
Table: South Korea Over-The-Counter (OTC) Medicine Market Indicators, Historical Data and Forecasts, 2010-2018 29
Pharmaceutical Trade Forecast 30
Table: South Korea Pharmaceutical Trade Data And Forecasts (US$mn), 2010-2017 31
Table: South Korea Pharmaceutical Trade Data And Forecasts (KRWmn), 2010-2018 31
Other Healthcare Data Forecasts 32
Key Risks To BMI's Forecast Scenario 32
Macroeconomic Forecasts 34
Economic Analysis 34
Strong Downside Pressures in 2014 35
Private Consumption 37
Government Consumption 37
Investment 37
Net Exports 37
Industry Risk Reward Ratings 38
Asia Pacific Risk/Reward Ratings 38
South Korea Risk Reward Ratings 44
Rewards 44
Risks 44
Market Overview 46
Industry Trends And Developments 48
Epidemiology 48
Healthcare System 48
Healthcare Financing 49
National Health Insurance Corporation 50
Medical Tourism 51
Research And Development 51
Biotechnology Sector 53
Table: South Korea's Bio-Industry Backbone 54
Clinical Trials 55
Regulatory Development 57
Regulatory Regime 57
Regulatory Developments 58
Controversial Trade Practices 59
Intellectual Property Regime 60
Pricing Regime 61
Price Cuts 63
Reimbursement Regime 65
Hospital Purchasing 66
Competitive Landscape 68
Pharmaceutical Industry 68
Domestic Pharmaceutical Industry 69
Table: Top-20 Pharmaceutical Firms By R&D Expenditure As % Of Total In South Korea (2011) 70
Table: Leading Pharmaceuticals Companies On Korea Exchange According To Market Capitalisation 71
Foreign Pharmaceuticals Sector 72
Recent Pharmaceutical Sector Developments 72
Pharmaceutical Wholesale 73
Pharmaceutical Retail 75
Table: Pharmaceutical Retailers, 2000-10 75
Table: Timeline Of OTC Slow Liberalisation 77
Company Profile 78
Dong-A 78
Chong Kun Dang Pharmaceutical 83
Hanmi Pharmaceutical Co 85
Yuhan Corporation 88
Daewoong Pharmaceutical 91
Bukwang Pharmaceutical Company 94
Kuhnil Pharmaceutical 96
Choongwae 98
GlaxoSmithKline 101
Pfizer 104
Sanofi-Aventis 108
Merck & Co 111
Novartis 114
Eli Lilly 117
Demographic Forecast 119
Demographic Outlook 119
Table: South Korea's Population By Age Group, 1990-2020 ('000) 120
Table: South Korea's Population By Age Group, 1990-2020 (% of total) 121
Table: South Korea's Key Population Ratios, 1990-2020 122
Table: South Korea's Rural And Urban Population, 1990-2020 122
Glossary 123
Methodology 125
Pharmaceutical Expenditure Forecast Model 125
Healthcare Expenditure Forecast Model 125
Notes On Methodology 126
Risk/Reward Ratings Methodology 127
Ratings Overview 128
Table: Pharmaceutical Risk/Reward Ratings Indicators 128
Indicator Weightings 129

Real Estate in South Africa
Real Estate in South Africa industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2011-15, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential reso

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