HONG KONG, CHINA – Media OutReach – 4 December 2017 – Asia’s premier property leaders’ summit, the annual MIPIM Asia, concluded last week after welcoming more than 900 of the world’s top-level real estate professionals and industry experts.
The annual event hosts influential corporate executives, academic experts and government officials to lead high-level presentations and discussion panels on emerging trends and developments across all sectors of the international property industry. The summit took place 28-29 Nov at the Grand Hyatt Hong Kong.
The Honourable Mrs Carrie Lam, Chief Executive of the Government of the Hong Kong SAR, presented MIPIM Asia’s welcome address, highlighting the administration’s focus on new growth areas linked to innovation and technology. In her speech, Chief Executive Mrs Carrie Lam emphasised a number of her administration’s initiatives, including plans to deliver more research and development funding to universities and to nurture local talent, to develop the Hong Kong-Shenzhen Innovation and Technology Park — a science park that will be jointly developed with Shenzhen — and large-scale infrastructure projects in the Greater Bay Area that will further strengthen Hong Kong’s position as a super-connector.
Mr Louis Kuijs, Head of Asia Economics at Oxford Economics, presented the keynote “The economic outlook for Asia in a changing world”. Commenting on the macroeconomic situation in Asia and geopolitical concerns, Mr Kuijs said, “Property remains a popular theme globally given 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 monitor China’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 and Chairman of the Shui On Group, and Mr Ronnie C Chan, Chairman, Hang Lung Properties Ltd, shared their views on both the investment landscape and large-scale projects that are expected to have a major impact on the real estate market in China and across the APAC region.
“The roadmap for the One Belt One Road is very ambitious, and it will be a challenging task for all 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 process thanks to the city’s expertise in construction and property development, and Hong Kong can definitely serve as a gateway city and commercial platform in the One Belt One Road initiative. I am delighted to see that delegates 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” which stressed the view that retailers need to create an elevated in-store experience to attract consumers. “The conventional relationship model between landlords and tenants is changing,” Mr Ronnie C Chan said. “It’s becoming more important for landlords to develop a direct relationship with consumers, and add a B2C component to the equation.”
In a lively session on urban development, titled “Mayors’ Think Tank: The Attractiveness of Cities,” representatives from Paris, Brisbane and Manchester discussed what makes cities more liveable and viable for both residents and investors, and highlighted the need to strike a balance between community interests and incentive-based regulation schemes. The panel analysed a number of topics revolving around brand-building for cities, soft power strategies and assets, the concerns of offering real estate assets as a form of financing, and smart city development from tech solutions versus strategic long-term planning and growth.
In terms of marketing a city, Mr Eamonn Boylan, Chief Executive, Greater Manchester Combined Authority, said “You have to be your own harshest critic” and be very clear with potential business partners and investors “about a city’s strengths and weaknesses” when marketing a city and developing its brand. “In Manchester, we commissioned an independent economic review. It told us hard truths; we needed to address significant cultural gaps. That drove us to spur cultural activity; it was an important lesson.” Mr Boylan was part of a panel organised by the UK Department of International Trade that showcased UK investment strengths in the midst of a shifting global economic context.
The global property and real estate industry is also embracing new technology, as evidenced by the companies featured at the MIPIM Startup Competition. Nine companies from around the world were selected as finalists for the Hong Kong competition and pitched their ideas and business models to a jury panel.
The three winners from Hong Kong were Snapflat, an app for landlords and tenants, WeMaintain, a marketplace connecting maintenance mechanics and property and facilities managers, and Workwell, a mobile intranet app for large companies. They will compete in the MIPIM Startup Competition finals in Cannes, France at MIPIM 2018, the world’s leading 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 where the industry is facing unprecedented transformational change. While we have observed that capital outflow from China has driven down yields globally and shored up quality deals, we also see the rise of SE Asia, with several emerging economies attracting a great deal of capital.”
The MIPIM Asia Summit closed with the MIPIM Asia Awards Gala Dinner, where 33 of the best architectural projects in Asia from 2017 were recognised for excellence across 11 categories.
Notes for editors
About MIPIM Asia Summit:
MIPIM Asia Summit is the annual property leaders’ summit in Asia Pacific organised by Reed MIDEM, is widely seen as a “must-attend” event for leading industry professionals. It features expert-led conference sessions, premium networking accelerators and an exclusive awards gala dinner over a two-day period. Distinguished speakers, senior executives, high-level business professionals and industry experts from around the world will discuss the latest developments and prevailing trends in the property and retail industry. MIPIM — the world’s property market is the leading and largest global property event. The four day event takes place annually in Cannes every March. 24,200 delegates attended in 2017 with 5,000 investors, and 100 different countries being represented.
About Reed MIDEM:
Founded in 1963, Reed MIDEM is an organiser of professional, international markets that are essential business platforms for key players in the sectors concerned. These sectors are MIPTV, MIPDOC, MIPCOM, MIPJUNIOR in Cannes, MIP China in Hangzhou and MIP Cancun in Mexico for the television and digital content industries; MIDEM in Cannes for music professionals; Esports BAR in Cannes and in Miami for the esports business; MIPIM in Cannes, MIPIM UK in London, MIPIM Asia Summit in Hong Kong and MIPIM PropTech Summit in New York and MIPIM ProTech Europe in Paris for the real estate industry; MAPIC in Cannes, MAPIC Russia in Moscow, MAPIC Italy in Milan, MAPIC China Summit in Shanghai and IRF brought by MAPIC in Mumbai for the retail real estate sector.
About Reed Exhibitions:
Reed Exhibitions is the world’s leading event’s organiser, with over 500 events in over 30 countries. In 2016 Reed brought together over seven million event participants from around the world generating billions of dollars in business. Today Reed events are held throughout the Americas, Europe, the Middle East, Asia Pacific and Africa and organised by 38 fully staffed offices. Reed Exhibitions serves 43 industry sectors with trade and consumer events. It is part of RELX Group, a global provider of information and analytics for professional and business customers across industries. www.reedexpo.com
For additional information about the MIPIM Asia Summit and programme, please visit here.
To download pictures of the event, please click here.