Source: Media Outreach
Headline: International property summit in Hong Kong draws 900 real estate executives, corporate leaders from across the globe
HONG KONG, CHINA – Media OutReach – 4 December 2017 – Asia’s premierproperty leaders’ summit, the annual MIPIM Asia, concluded last week afterwelcoming more than 900 of the world’s top-level real estate professionals andindustry experts.
The annual event hosts influential corporateexecutives, academic experts and government officials to lead high-level presentationsand discussion panels on emerging trends and developments across all sectors of the international propertyindustry. The summit took place 28-29 Nov at the Grand Hyatt Hong Kong.
TheHonourable Mrs Carrie Lam, Chief Executive of the Government of the Hong KongSAR, presented MIPIM Asia’s welcome address, highlighting the administration’sfocus on new growth areas linked to innovation and technology. In her speech,Chief Executive Mrs Carrie Lam emphasised a number of her administration’sinitiatives, including plans to deliver more research and development fundingto universities and to nurture local talent, to develop the Hong Kong-ShenzhenInnovation and Technology Park — a science park that will be jointly developedwith Shenzhen — and large-scale infrastructure projects in the Greater Bay Areathat will further strengthen Hong Kong’s position as a super-connector.
Mr Louis Kuijs, Head of AsiaEconomics at Oxford Economics, presented the keynote “The economic outlookfor Asia in a changing world”. Commenting on themacroeconomic situation in Asia and geopolitical concerns, Mr Kuijs said, “Property remains a popular theme globallygiven the low interest rate environment that we are still faced with. Naturally,investors will keep a keen eye on US monetary and fiscal policies and closely monitorChina’s deleveraging efforts and proposed tightening measures on credit,coupled with the tensions on the Korean peninsula.”
Distinguished industry veterans Mr Vincent Lo,Chairman of the Hong Kong Trade Development Council (HKTDC) and Founder andChairman of the Shui On Group, and Mr Ronnie C Chan, Chairman, Hang LungProperties Ltd, shared their views on both the investment landscape and large-scaleprojects that are expected to have a major impact on the real estate market inChina and across the APAC region.
“The roadmap forthe One Belt One Road is very ambitious, and it will be a challenging task forall stakeholders involved, from both the public and private sector,” said Mr Vincent Lo. “I believe that Hong Kong can play an essential role in this processthanks to the city’s expertise in construction and property development, and HongKong can definitely serve as a gateway cityand commercial platform in the One Belt One Road initiative. I am delighted to see thatdelegates at MIPIM Asia are keen to explore how they can be involved.”
Mr Ronnie C Chan hosted a retail session on the theme“Excelling in Strengthening Partnerships with Retail Tenants” whichstressed the view that retailers need to create anelevated in-store experience to attract consumers. “The conventionalrelationship model between landlords and tenants is changing,” Mr Ronnie CChan said. “It’s becoming more importantfor landlords to develop a direct relationship with consumers, and add a B2Ccomponent to the equation.”
In a lively session on urban development,titled “Mayors’ Think Tank: The Attractiveness of Cities,” representatives fromParis, Brisbane and Manchester discussed what makes cities more liveable andviable for both residents and investors, and highlighted the need to strike abalance between community interests and incentive-based regulation schemes. Thepanel analysed a number of topics revolving around brand-building for cities, softpower strategies and assets, the concerns of offering real estate assets as aform of financing, and smart city development from tech solutions versusstrategic long-term planning and growth.
In terms of marketing a city, Mr Eamonn Boylan, ChiefExecutive, Greater Manchester Combined Authority, said “You have to be your own harshest critic” and be very clear with potentialbusiness partners and investors “about acity’s strengths and weaknesses” when marketing a city and developing itsbrand. “In Manchester, we commissioned anindependent economic review. It told us hard truths; we needed to addresssignificant cultural gaps. That drove us to spur cultural activity; it was animportant lesson.” Mr Boylan was part of a panel organised by the UK Departmentof International Trade that showcased UK investment strengths in the midst of ashifting global economic context.
The global property andreal estate industry is also embracing new technology, asevidenced by the companies featured atthe MIPIM Startup Competition. Nine companies from around the world were selectedas finalists for the Hong Kong competition and pitched their ideas and businessmodels to a jury panel.
The three winners from Hong Kong were Snapflat, anapp for landlordsand tenants, WeMaintain, a marketplace connecting maintenance mechanics andproperty and facilities managers, and Workwell, a mobile intranet app for largecompanies. They will compete in the MIPIM Startup Competition finals in Cannes,France at MIPIM 2018,the world’sleading property market conference.
Concluding MIPIM Asia 2017,Mr Ronan Vaspart, MIPIM Markets Director said, “MIPIM Asia brought hundreds of business executives and industry experts together in a time wherethe industry is facing unprecedented transformational change. While we haveobserved that capital outflow from China has driven down yields globally andshored up quality deals, we also see the rise of SE Asia, with several emerging economies attracting a great deal of capital.”
TheMIPIM Asia Summit closed with the MIPIM Asia Awards Gala Dinner, where 33 of thebest architectural projects in Asia from 2017 were recognised for excellenceacross 11 categories.
Notes for editors
About MIPIMAsia Summit:
MIPIM Asia Summit is the annual property leaders’ summit in Asia Pacificorganised by Reed MIDEM, is widely seen as a “must-attend” event for leadingindustry professionals. It features expert-led conference sessions, premiumnetworking accelerators and an exclusive awards gala dinner over a two-dayperiod. Distinguished speakers, senior executives, high-level businessprofessionals and industry experts from around the world will discuss thelatest developments and prevailing trends in the property and retail industry.MIPIM — the world’s property market is the leading and largest global propertyevent. The four day event takes place annually in Cannes every March. 24,200delegates attended in 2017 with 5,000 investors, and 100 different countriesbeing represented.
Founded in 1963, Reed MIDEM is an organiser of professional,international markets that are essential business platforms for key players inthe sectors concerned. These sectors are MIPTV, MIPDOC, MIPCOM, MIPJUNIOR inCannes, MIP China in Hangzhou and MIP Cancun in Mexico for the television anddigital content industries; MIDEM in Cannes for music professionals; EsportsBAR in Cannes and in Miami for the esports business; MIPIM in Cannes, MIPIM UKin London, MIPIM Asia Summit in Hong Kong and MIPIM PropTech Summit in New Yorkand MIPIM ProTech Europe in Paris for the real estate industry; MAPIC inCannes, MAPIC Russia in Moscow, MAPIC Italy in Milan, MAPIC China Summit inShanghai and IRF brought by MAPIC in Mumbai for the retail real estate sector.
Reed Exhibitions is the world’s leading event’s organiser, with over 500events in over 30 countries. In 2016 Reed brought together over seven millionevent participants from around the world generating billions of dollars inbusiness. Today Reed events are held throughout the Americas, Europe, theMiddle East, Asia Pacific and Africa and organised by 38 fully staffed offices.Reed Exhibitions serves 43 industry sectors with trade and consumer events. Itis part of RELX Group, a global provider of information and analytics forprofessional and business customers across industries. www.reedexpo.com
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