Tag Archives: Qi Ji

How China succeeded with SEZs

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Chinese Real Estate Markets, Chinese realty, Qi Ji, Deputy Housing Minister of China, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyTrack2Realty Exclusive: In China, SEZs were developed along its southern coast in the areas of Shenzhen, Shantou, Zhuhai, Hainan and Xiamen which were backward small villages lacking in basic infrastructure and industrial resources. These zones were developed as manufacturing hubs and the open access to international trade sea lanes led to their success.

These SEZs attracted huge amounts of foreign capital and optimised the use of management, advanced technology and equipment. In India, apart from a few port locations, most of the existing and proposed SEZs are located inland.

Moreover, the Indian policy makers could only see half the picture in assuming that the foreign investors who were not comfortable with the limitations on repatriation of investments from China would flock to India.

Unlike the totalitarian regime of China where the State established the SEZs, in India it was left to the private sector without adequate support mechanism where the Centre and State Government policies often were put at cross purposes.

As a result, many foreign companies, especially from Japan, France, Germany and Italy are clueless whether to invest in a country where the change of regime at political level can result in change of policies overnight.

Facts speak for themselves. About 80,000 Japanese companies have factories in China, especially in its SEZs. In Thailand too, over 17,000 Japanese companies have factories in notified zones. In comparison, India has only 840 Japanese companies.

China, unlike India with focus on IT/ITeS, concentrated on manufacture and today China’s exports are 30 per cent of its GDP, lion’s share coming from SEZs. Also, China gave fiscal benefits to coastal SEZ factories for a long period of 20 years, before extending the same incentives inland to motivate manufacturing. In contrast, fiscal benefits to Indian SEZs did not even lat beyond four years. So, while it demotivated the existing SEZs, companies which were planning to create factories in the Indian SEZs decided not to.

Next: Over reliance on IT/ITeS proved to be nemesis of SEZs

Cushman & Wakefield appoints Randall Hall as Executive Managing Director, Greater China

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Chinese Real Estate Markets, Chinese realty, Qi Ji, Deputy Housing Minister of China, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyCushman & Wakefield has appointed Randall Hall as Executive Managing Director, Greater China. Based in Hong Kong, Randall will be responsible for providing executive leadership for Cushman & Wakefield in the Greater China region, which includes China, Hong Kong & Taiwan.

He will be responsible for assessing expansion opportunities, increasing the company’s market share and enhancing service delivery capabilities. He will further identify opportunities of accelerated growth opportunities for us and will work closely with our country managers in these markets to strengthen the Cushman & Wakefield brand and implement transformational growth strategies.

Randall will also join Cushman & Wakefield’s regional Executive Leadership Council (ELC). ELC is the firm’s apex executive body and think tank for strategy formulation and executive oversight of the business across Asia Pacific.

Sanjay Verma, CEO said, “Randall is an established and proven market leader in Asia and given his track record, he will bring tremendous depth to our leadership team in Asia. He will significantly help us grow our client and talent base in the Greater China region.”

“This appointment is part of our overall growth strategy to create a dominant position for C&W in all our key markets. In the last two years, we have significantly augmented our talent pool across Asia and this is another step forward for us as we continue to build and invest in our business and our talent in the region,” he added.

Randall Hall said, “I am proud to be joining Cushman & Wakefield. The company has been growing rapidly in recent years and has been adding significant talent to its team across the region. I’m looking forward to leading the Greater China region during this next stage of growth and am excited about developing our platform and further enhancing our services to clients in China, Hong Kong & Taiwan”

Randall has 23 years’ experience in the real estate market in Asia and has lived in China for 10 years. His most recent position was CEO of Greater China for Savills. Before moving to China, Randall worked in the Hong Kong market for 8 years as the Executive Director for agency business and head of Savills Kowloon office. Randall also set up Savills Taipei in 2007 and negotiated the purchase of an Asset management business and team in Japan which led to the opening of the Savills Tokyo office. Before Savills, Randall has also worked with Jones Lang Wooten, DTZ and Chesterton in Australia and Hong Kong.

Randall recently completed the Advanced Management Program at Harvard Business School.

China no longer region’s sole real estate growth driver

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Chinese Real Estate Markets, Chinese realty, Qi Ji, Deputy Housing Minister of China, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyGrowth in the property business in Asia Pacific this year will be driven by many countries and not just China as in the recent past, according to DTZ survey. The region’s solid performance will be supported by strong growth in the use of equity for investment as opposed to debt, intra-regional investment, and increasing willingness of banks to lend, the company says in its research report Money into Property 2012.

Asia Pacific has now surpassed North America to become the world’s second largest region with invested stock of US$3.9 trillion in 2011, said Hans Vrensen, Global Head of Research with DTZ.

The growth rate in real estate invested stock in Asia Pacific last year was 13% from 2010, making the region the best performer in the world.

Invested stock in Europe, the largest region, in 2011 stood at $4.5 trillion, a gain of 8% from the previous year. North America ranked third at $3.7 trillion with flat growth. Average growth worldwide was 7% to $12.1 trillion from $11.3 trillion in 2010.

Vrensen said China led the expansion in Asia Pacific in the past years but now the growth is more even across the entire region. “Other countries are growing more rapidly than China,” he said.

Stock growth in China slowed in 2011, whereas markets such as Taiwan and Southeast Asia performed better. Taiwan was the best performer with 21% growth in invested stock, followed by Malaysia at 20% and Singapore at 17%. Asean overall grew by 16%, compared with 8% in 2010 and flat growth in 2009.

Vrensen said the strong growth in Asia Pacific had also been supported by deleveraging, with greater use of equity for investment. Looking at total debt as a percentage of invested stock, the figure in Asia Pacific last year was 55%, better than the global average of 60%. North America was the highest with 67% and in Europe the figure was 58%.

Europe’s protracted debt crisis has also meant much tighter lending conditions, in contrast to Asia Pacific where lenders are more willing to fund property investment.

According to a DTZ global survey, 64% of participants expect tighter lending conditions this year, compared with just 10% giving the same response last year. Thirty percent of those surveyed this year believe the conditions will be the same, while 6% foresee relaxed conditions.

Unlike the global view, only 11% of participants in Asia Pacific expect tighter lending conditions this year. Fifty-six percent foresee the same conditions, and 33% hope for easing. Thirty percent of the participants expect credit to be tighter in Europe, the Middle East and Africa.

Banks may have problems with lending in Europe, but this is a concern for investment in Asia Pacific, added Vrensen.

Also supporting property investment growth in Asia Pacific is intra-regional investment. Sixteen percent of cross-border investment in Asia Pacific, excluding land deals, last year came from intra-regional sources, up from 9% in 2010. The share of inter-regional investment fell to 4% from 8% a year earlier, and domestic investment to 80% from 83%.

Vrensen said DTZ forecast invested stock in this region to grow by 7% this year and 10% in 2013 on a base case. He figures could be 4% and 6% respectively in the downside case, he added.

Global housing market downturn gathering pace

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Chinese Real Estate Markets, Chinese realty, Qi Ji, Deputy Housing Minister of China, Delhi NCR real estate, Bangalore Real Estate, JLLM, Jones Lang LaSalle Meghraj, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.comIndiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India Property, Track2Media, Track2Realty, ravi sinha, india realty news, india real estate news, real estate news india, realty news india, india property news, property news india, KP Singh, DLF, Unitech, Emaar MGF, ndtv.com, ndtv, aajtak, zee news, india news, property news, real estate news, 99acres.com, 99 acres, indianrealtynews.com, indianrealestateforum.com, Indiabulls real estate, BSE, Bombay Stock Exchange, Mumbai Real Estate, India PropertyThe world’s housing downturn is gathering momentum, according to the latest world-wide survey of house price indices prepared by the Global Property Guide.

During 2011, house prices fell in 22 countries, of the 35 countries for which Q4 house price statistics are available, and rose in only 13 countries.

Similarly, 21 housing markets performed worse during 2011 than last year, while only 14 countries performed better.

The figures for the 4th quarter of 2011 are somewhat worrying, with quarterly price rises in only 10 countries, but price falls in 25 countries.  On the other hand, the apparent trend towards recovery in the US is positive.

The slow pace of the global economic recovery, strengthening sovereign debt concerns, weak consumer confidence and high unemployment all continue to weigh on residential property markets.

The Global Property Guide’s statistical presentation uses price-changes after inflation, giving a more realistic picture than the more upbeat nominal figures usually preferred by real estate agents.

India and Brazil: world’s strongest housing markets

India and Brazil seem unstoppable, and remain the best performing housing markets in the world.

In 2011, house prices in Delhi soared 25.26%, with a rise of 6.62% during the latest quarter. Yet demand is still expected to pick up, because the Reserve Bank of India (RBI), in its Q3 review of Macroeconomic and Monetary Developments, signalled a pause in monetary policy tightening, in order to fuel economic growth.

The world’s second strongest house price rise occurred in Sao Paulo, Brazil, where house prices surged by 19.79% in 2011. Good weather, relatively inexpensive cost of living and strong capital appreciation are some of the reasons why Brazil is seen as a good choice for property investment. During the 4th quarter, house prices rose by 3.93%.

European housing markets still heading down

Most countries whose housing markets experienced accelerated downturns in 2011 are located in Europe, including Finland (-2.22% down in 2011), United Kingdom (-3.39%), Sweden (-5.29%), Netherlands (-5.77%), Slovak Republic (-6.88%), Portugal (-7.78%), Spain (-9.27%), Athens, Greece (-10.43%), and Warsaw, Poland (-10.55%).

Unhappy Ireland still holds the title of ‘world’s weakest housing market’, with house prices plummeting by 18.08% in 2011. With low transactions, constrained mortgage lending, and an uncertain economic environment, Irish house prices are likely to continue falling in 2012.

European countries which saw smaller house price falls this year than the previous year include Turkey (-1.73%), Croatia (-3.26%), Lithuania (-4.21%) and Bulgaria (-8.99%).

However, several European countries actually enjoyed house price rises in 2011. The highest house price climb in Europe was in Tallinn, Estonia, whose property market has been recovering since the second half of 2010. Over the past twelve months, house prices in Tallinn rose 8.36%.

Other strong European housing markets in 2011 included Norway (+7.01%) and Switzerland (+4.90%).

Housing markets in the Ukraine and Iceland finally bounced back in the final quarter of 2011. In Kiev, apartment prices climbed by 5.29% (in nominal terms) from a year earlier, after falling 9.47% the previous year. Likewise, house prices in Iceland rose 1.84% year-on-year, after falling 4.18% the previous year.

In Germany and Latvia (Riga), housing markets had modest increases in 2011, with 1.53% and 0.53% rises, respectively.

House price boom in Asia now over

Almost all Asian housing markets in the survey performed more poorly in 2011, than during the previous year.

House prices in Hong Kong were up 5.32% on the year, after rising 18.87% the previous year. House prices in Singapore rose a mere 0.28%, after a rise of 13.06% the previous year. In both Hong Kong and Singapore there were price-falls in the final quarter of 2011, as a result of cooling measures, coupled with the uncertainties in the global economy. Hong Kong house prices fell 5.24% during the quarter, and Singapore house prices fell 0.67%.

During 2011, house prices in Taiwan fell 8.74%, after rising 9.70% the previous year. China (Shanghai) and Japan (Tokyo) had lesser declines at 3.23% and 3.69%, respectively. House prices may continue to fall in the coming months, for at least as long as the tightening policies remain in place.

However, housing markets in South Korea and Indonesia (14 cities) improved from a year earlier with price rises of 2.94% and 0.89%, respectively.

US housing market showing signs of life

During 2011, house prices in the United States fell 5.54% year-on-year, according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted purchase-only house price index (note that our figures are inflation-adjusted, so they do not mirror the headline figures released by the FHFA). In the final quarter, house prices rose 0.06%, the first quarterly rise over the past two years.

However, the house price index rose in the last quarter in 27 states and the District of Columbia. When coupled with the fact that about half of all U.S. states saw price increases in the latest quarter, this growth adds to mounting evidence that real estate markets are seeing at least some signs of life, says FHFA Principal Economist Andrew Leventis.

The housing market has been one of the weakest parts of the U.S. economy, but there are signs that it is starting to recover after a price collapse that began 5½ years ago. In 2011, about 4.26 million homes were sold, up 1.7% from 4.19 million in 2010.

Cooling in the Middle East

House prices in Israel have continued to fall in the final quarter of 2011, with a 3.60% year-on-year decline.

The wave of social protest that arose last summer, along with global economic uncertainty, and the steps taken and statements made by the government and the Bank of Israel have been the most influential factors that led to the current slowdown in residential real estate, according to Ministry of Justice head government assessor Tal Alderoti.

Patchy progress for Pacific housing markets

In New Zealand, median house prices were down 0.01% during 2011, the modest house price fall since the second half of 2010.  Yet during the 4th quarter, house prices rose 3.36%. December has been a strong month for real estate sales, with the strongest transaction figures since 2007. Auckland had its strongest December since 2006, says REINZ Chief Executive Helen O’Sullivan.

In 2011, house prices in Australia were weak, slumping by 7.70%. However, the decline in the housing market is nothing like as severe as that in the United States or United Kingdom.