CCIM Feature
CCIM & AAREA Build Relationships
Trade mission to China opens up new opportunities.
By Lesley Burns |
Thirty-eight representatives of the CCIM Institute and the
Asian American Real Estate Association recently traveled to China to meet
with their local counterparts and
exchange real estate ideas and practices. During
the 12-day trade mission participants visited Beijing,
Shanghai, Shenzhen, and Hong
Kong. “It was an extremely successful trip that afforded everyone
the opportunity to network and cooperate with real estate practitioners and
fellow CCIM professionals in those cities,” says Pius K. Leung, CCIM, CIPS,
2005 CCIM Institute president.
Many experts say China has the potential to transform
the global marketplace. The liberalization of its economy along with its
entrance into the World Trade Organization have created numerous new
opportunities for investment, particularly in real estate. As the host of the 2008
Olympics, Beijing
has sustained rapid development and investment. Real estate, especially premium
quality residences in elite areas, will continue to increase dramatically.
While in Beijing,
trade mission participants toured some of the top local residential projects
and a business park, which provides headquarters and state-of-the-art support
facilities for enterprises integrating business, research, testing, and
industry. Trade mission participants gained first-hand knowledge of the industries
and exchanged ideas with managers from those projects. Additionally, the group
was able to get a taste of China’s
unique history by climbing the Great Wall, touring the Forbidden City, and
witnessing the national flag ceremony on Tiananmen Square.
The trade mission then made its way to Shanghai, a city that has transformed itself
from the industrial age into a futuristic city with skyscrapers, major
industrial zones, research centers, and a rapid-transit system. Shanghai’s successful bid
for the 2010 World Expo will further enhance the city’s opportunities for
development. CCIM members in Shanghai
discussed important local commercial projects and investment opportunities with
the group.
The next stop was the Suzhou
Industrial Park, the largest
cooperative project between China
and Singapore.
Located 80 kilometers from Shanghai, SIP now is
composed of an information
technology park, an international technology park, a life sciences park, a
national software park, and a small-to-medium business enterprise park. With
modern city feel and appearance, SIP soon will be a high-technology frontrunner
with modern industries and a favorable living environment for its residents
with quality schools.
After a short flight from Shanghai, the trade mission arrived in
Shenzhen. This one-time fishing village is one of the Special Economic Zones of
China that has provided competition
for Hong Kong in handling China’s
exports and soon is expected to replace Shanghai
as the mainland’s largest port. It also is host to one of the world’s most popular
golf clubs, Mission Hills. The group toured the facilities, which include 180
holes on 20 kilometers of land with 10 courses designed by golf pros such as
Greg Norman and Jack Nicklaus, as well as luxury residential housing, a five-star
hotel, and several dining venues.
Crossing the border in Shenzhen, the CCIM/AAREA trade mission
arrived in Hong Kong. A financial hub in Asia
and a flourishing international center, Hong Kong
has seen real estate become a mainstay of its economy. The trade mission had an
incredible opportunity to visit with representatives of the Society of Hong
Kong Real Estate Agents Ltd. and the Estate Agents Authority to discuss ways to
sell real estate in Hong Kong. The group also visited
the newly built International
Finance Center.
Most impressive was the Arch, a high-rise building consisting of connected
towers that feature luxury apartments with amazing views of Hong
Kong’s skyline.
In all, the trip was an enlightening and eye-opening
experience. Cultivating Chinese partners and relationships, understanding
China’s consumers and markets, and looking at new business models are crucial
steps to success in this emerging market. Future CCIM trade missions like this
one are already in the works for 2006 and are an excellent opportunity to gain
first-hand insights into the global real estate markets as well as provide an
unparalleled networking opportunity for institute members.
For more information about the CCIM Institute’s trade
mission to China, contact Pius K. Leung, CCIM, at pkleung@ccim.net.
