In late September, ULI China Mainland held a CEO Forum in Shanghai. Nearly 50 leaders from renowned developers and institutional investors from China and overseas attended this closed-door meeting.
Qin Pang, Director and Head of the Shanghai Studio, was invited to attend the CEO Forum to participate in a round-table group discussion on two main topics with other guests:
1) How real estate developers and investors can navigate the current challenging market environment.
2) How the commercial real estate industry will evolve.
The round-table conference discussed and analysed the slowing growth rate of total investment in global real estate against the context of slowing global economic growth. The Asia-Pacific region is expected to recover its position as the centre of global economic growth in 2023. The average price of office buildings in most of the world’s first-tier cities is expected to peak, but investors can focus on key cities with low prices, such as Shanghai and Beijing.
The guests felt that despite the bleak macroeconomic outlook, the declining interest rates in China would help ease the cost of borrowing for developers. ESG and new energy will be areas of continued interest for most developers. Moreover, a majority of guests expressed their interest in life science properties. The Forum attendees expressed that in the face of business challenges brought about by the normalisation of epidemic prevention and control, commercial operators should take targeted, remedial actions. To help merchants reduce losses, they can also stimulate the consumer market with new content, products and capabilities. The attendees also expressed that online and offline commerce and accurate marketing are also critical for businesses.
The Forum guests include investors, renowned industry developers, and market analysts, such as Stuart Mercier (Managing Partner and Head of Asia of Brookfield Asset Management), Chen Zhichao (CEO and Senior Managing Director of Tishman Speyer China), Li Hong (Senior Vice President of GLP), Zheng Zhonggui (General Manager of Huafa Commercial, Shanghai), Li Zhaohui (COO of Jiangong Real Estate Group), Chen Yongming (Senior Executive Director of CapitaLand Investment, China), Cao Hailun (Deputy General Manager of Bailian Group), Hu Huiya (Associate Director of Hang Lung Properties for Mainland China) and Zheng Bingze (President and Managing Director of Chongbang Group).
After the productive discussions, the guests continued their in-depth conversations and brought the CEO Forum to a successful conclusion.
The ULI (Urban Land Institute) conducts CEO forums in different regions on a phased basis, inviting leading representatives from the real estate and related industries in the region to participate in closed-door discussions. The forums’ analysis and discussions have market influence and objective impact, with the aim of leveraging the expertise of industry leaders to contribute to the positive development of real estate and related markets in the region.
