Event Recap | Mid-Year China Property Update
On Thursday 6th August, AustChamShanghai’s Built Environment Committee alongside the British Chamber ofCommerce co-hosted the Mid-year property update to dive into how the Chinesereal estate sector has reacted to the crisis and the opportunities andchallenges that lie ahead. The panellists from JLL, Savills and EY each offereda unique perspective on the market, providing insights into the influence ofCOVID-19 on the areas of design, leasing, and investment.
Tong Sun, managing director at JLL provided an update on how COVID-19 has influenced the design sector by delving into new flexible work arrangements and the changes in the workplace as a result. He explored the importance of people, culture, and a sense of belonging and their importance to the workplace alongside the rise of de-centralised hubs and the Working from anywhere (WFA) model.
James Macdonald, head of research at Savills China delivered an update on how the property leasing market has fared. James touched upon how China’s lack of transparency and high levels of counterparty risk amongst other factors would lead to firms feeling the financial stress associated with COVID-19 in the coming few months.
Gary Liu, a Partner at EY’s Transaction Advisory Services team provided a talk on movements in the real estate area. Gary provided a comprehensive analysis on the conditions and requirements for a successful real estate investment trust.
