theSun Property September 2016

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relates to real estate due to the
nature of the real estate industry’s
valuation and business models,”
says Akagi. Because the tangible
side of real estate is physically
rooted in the land, any sort of
additional value attached (i.e.
proximity to train stations,
aesthetics of the building, adequate
utilities, etc) is inherently part of its
overall property valuation, he
explains.
THE IMPACT ON LAND
VALUES
“While it remains far-fetched to
consider that placing Pokestops
and Gyms will add any asset
value, the increased footfall and
traffic allow property owners
and developers a chance to cash
in,” says Akagi. Not only will it
further attract people to these
checkpoints, the popularity of the
game could influence land values
by making them hot-spot
landmarks for gamers. Business
establishments surrounding these
destinations will also become
exposed to the increased traffic of
gamers to reap its potential
benefits, he adds.
SINCE mid year, Malaysians
along with many other cities
around the globe have been
busy playing Pokemon Go.
ome three months on and one
can’t help but notice the many new-
found hotspots, from parks to
malls, cemeteries, places of
worship, as well as housing estates.
We’ve heard of parents having to
drive their kids around as families
look high and low for specific
Pokemon species in the aim of
capturing and evolving all 151
Pokemon. While the number of
hospots i.e. “Pokestops and gyms”
have flourished, it was interesting
to find out how Pokemon Go has
affected the property industry. This
article from Jones Lang LaSalle
(JLL) highlights the game’s impact
in Japan.
POKEMON GO IN JAPAN
The popularity of Pokemon Go has
plateaued somewhat after the
mobile game’s shattering launch in
July in Asia Pacific. Still, thousands
stampeded through the streets in
Taiwan in search of “Snorlax”. As
this augmented reality (AR) game
with animated monsters led many
to venture afar in the real world,
does this footfall bring any value to
real estate?
According to Article 86 of the
Civil Code in Japan, Pokemon’s
birthplace and Asia’s biggest real
estate market by sales volume, real
estate refers specifically to “the
land and the fixture” of the area
under scrutiny, indicating that it is
up to the landlord, in the context of
profitability, to appropriately
“dress” a property to attract as
many people as possible, according
to JLL head of research in Japan
Virtual
>Does PokemonGo addvalue to real estate assets?
PHOTO:
HINTS AND HAUNTS TO
CHECKOUT
Places to catch ‘emall, along
with Poke Stops, Poke Gyms,
Poke Balls andmore.
1) KLCC Park –map area
2) Taragon Puteri YKSmini
water fountain
3)Megan Avenue 2
4) Horizontal pillars fountain,
Ambank Jalan Ampang
5) Ambank golden horse
6)Menara Ambank
7) TheWaves sculpture, Jalan
Ampang
8)Wisma Selangor Dredging
9) Rocky fountain of koi, Menara
BSN
10) Suria KLCC – F1 car, Modest
David, Black horse lamp
head
11) KLCCTwin Towers
12) Lake Symphony and KLCC
Park entrance
13)MandarinOriental –Mosaic
cafe water feature
[Information retrieved from
PropertyGuru online article.
Do note that it is an offence to
cross private property. People are
not allowed to roam the KLCC
Park aftermidnight.]
impacts reality
TURN TO PAGE 26 X
Takeshi Akagi.
By collaborating with Google
Maps, Nianti’s use of AR has drawn
attention to its utilisation of GPS
and locational services technology
as a key driver of the game’s real-
time features. Niantic has a major
stake in Pokemon Go. Specifically,
the technology is used for
“Pokestops” and “Gyms” that
appear in the app’s internal map,
which are essential for users to
train their Pokemon, as well as
progressing through various
levels by beating Gym leaders.
“The details of the gameplay
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theSun ON FRIDAY | SEPTEMBER 9, 2016